Kinder Morgan expects earnings to decline in 2020

) on Thursday said it expects core earnings to decline next year but signaled it would move to cut its debt load and increase its dividend.

Kinder Morgan said it expected adjusted pre-tax earnings of $7.6 billion next year, in line with Wall Street estimates but down from a forecast of $7.8 billion in 2019. Kinder Morgan expected to generate $5.1 billion of distributable cash flow in 2020, about 3% higher than the current forecast for 2019.

It expects to reduce the ratio of debt to adjusted pre-tax earnings to 4.3 next year, compared with an anticipated 4.4 by year end and 4.7 in the third quarter. It will use proceeds from asset sales, including the sale of the U.S. portion of its Cochin pipeline and its Canadian unit, to pay down debt.

They ought to build windmills with that pipe! 💡

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Billionaire businessman Ken Langone talks about stocks he likes, including JP Morgan and GEThe Home Depot co-founder says he used Tuesday's stock market drop as a buying opportunity. As a huge Trump supporter who claims he is doing a great job, why is deficit exploding, why is Dow up only 3 pct in past 23 months, why is GDP falling hard ? We have a shrinking economy with a flatish market and a staggering debt. This is good ? Obama 1 million more new jobs
Source: CNBC - 🏆 12. / 72 Read more »

A ‘clear, unambiguous and broad-based’ economic slowdown means stocks go nowhere in 2020, says top Deutsche Bank strategistAfter a banner year for the U.S. stock markets, many investors wonder how much further equities can rise in 2020. According to this Deutsche Bank strategist: absolutely nowhere.
Source: MarketWatch - 🏆 3. / 97 Read more »