Kinder Morgan Is Entering 2020 in Its Best Shape in Years
Kinder Morgan (NYSE: KMI) has undergone a dramatic transformation over the past few years. The energy company has gone from being in a very tight financial situation to having significant flexibility. Because of that, the pipeline giant has the potential to create additional value for its investors in the coming years if it uses its flexibility wisely.
Kinder Morgan has slowly chipped away at its debt over the past several years. Not only has it sold several non-core assets, but it has also used its retained cash flow to finance nearly all its expansion projects. The company has pushed its leverage ratio from a concerning 5.9 times debt-to-EBITDA at the end of 2015 to 4.7 at the end of the third quarter, which was just above its 4.5 times target.
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Source Fool.com
