SEATTLE (Oil Monster): Kinder Morgan Inc. (KMI) reported fourth quarter 2022 earnings. The quarterly profits recorded jump on natural gas earnings. The company’s Natural Gas Pipelines segment performed well above plan during the quarter, said the press release.
The company reported net income attributable to KMI of $670 million during Q4 last year, compared to net income attributable to KMI of $637 million in the same quarter a year before. The distributable cash flow totalled $1,217 million, compared to $1,093 million a year before. The adjusted earnings surged higher from $609 million in Q4 2021 to $708 million in Q4 last year.
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The company made good progress on the three Kinetrex Energy renewable natural gas facilities during the quarter. All of the above facilities are on track to be placed in service during the current year itself.
Kinder Morgan board of directors approved a cash dividend of $0.2775 per share for the quarter, payable on February 15, 2023, to stockholders of record as of the close of business on January 31, 2023.
Commenting on the outlook, KMI said that expects to generate net income attributable to KMI of $2.5 billion or $1.12 per share in 2023.
| Forozan Blend | 75.61 | |
| Iran Heavy | 75.71 | |
| Iran Light | 77.66 | |
| Forozan Blend | 63.07 | |
| Iran Heavy | 62.92 | |
