Kinder Morgan Is Seeing Surging Demand for Natural Gas
Russia's invasion of Ukraine has changed the game for the U.S. natural gas industry. Energy security has become a top priority for countries, leading them to lock up contracts for supplies of natural gas. That's benefiting the companies that own and develop infrastructure for transporting natural gas and liquefying it for export.
One of those beneficiaries is Kinder Morgan (NYSE: KMI), and its second-quarter results -- delivered after the bell Wednesday -- clearly reflect that. Here's a closer look at those numbers and what its management team sees ahead for the natural gas market.
During the second quarter, Kinder Morgan generated $1.176 billion, or $0.52 per share, of distributable cash flow. That was up 15% overall from the year-ago period, and up 16% on a per-share basis thanks to the positive impact of the company's stock-buyback program. That was enough cash to cover Kinder Morgan's 6.4%-yielding dividend with $545 million to spare.
Source Fool.com
