Kinder Morgan sees FY24 EPS $1.21, consensus $1.22

The company states: “For 2024, KMI‘s preliminary budget published on December 4, 2023 forecasted, among other metrics, EPS of $1.21 and DCF per share of $2.21. It did not include the acquisition of NextEra Energy Partners’ STX Midstream assets that closed on December 28, 2023. KMI is updating its budget to incorporate the acquisition of the STX Midstream assets, which results in a final 2024 budgeted EPS of $1.22, up 15% versus 2023, DCF per share of $2.26, and Adjusted EBITDA of $8.16 billion, both up 8% versus 2023 and a year-end 2024 Net Debt-to-Adjusted EBITDA ratio of 3.9 times. KMI’s expectation to declare dividends of $1.15 per share for 2024 is unchanged. The preliminary and final budgets assume average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $82 per barrel and $3.50 per million British thermal unit (MMBtu), respectively, consistent with the forward curve during the company’s annual budget process.”