2024-01-19 06:40:00 ET
Kinder Morgan (NYSE: KMI) made a lot of money in 2023. The natural gas pipeline giant recently reported that it hauled in over $4.7 billion of distributable cash flow for the year. While that was down from 2022's total due to lower commodity prices and higher interest rates, it was more-than-enough cash to cover the company's 6.4%-yielding dividend.
The natural gas infrastructure giant expects to make even more money this year. It recently closed its acquisition of STX Midstream from NextEra Energy Partners , which will give it more fuel to grow its profits in 2024. Here's a look at last year's solid results and the company's expectations for the coming year.
Kinder Morgan recently reported its latest financial results. The pipeline company generated nearly $1.2 billion of distributable cash flow during the fourth quarter, pushing its full-year total to $4.7 billion.
For further details see:
After a Solid 2023, This High-Yield Dividend Stock Expects to Make Even More Money in 2024