Kinder Morgan Canada

KML-T

Analysis and Opinions about KML-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
January 17, 2020
(A Top Pick Feb 14/19, Up 5%) Kinder Morgan Canada was purchased by Pembina Pipeline. This was the TMX project. He was hoping for a better price in the acquisition, so the return was muted.
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(A Top Pick Feb 14/19, Up 5%) Kinder Morgan Canada was purchased by Pembina Pipeline. This was the TMX project. He was hoping for a better price in the acquisition, so the return was muted.
DON'T BUY
DON'T BUY
November 1, 2019

The payout ratio on PPL is about 98%, so there is not a lot of wiggle room. He does not own this one. The company is looking to buy KML. He has a short on this simply because they are already long KML. The balance sheet is better than most pipelines out there. However, it does not score cheaply enough on valuations for him to want to buy today. Yield 5.2%

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The payout ratio on PPL is about 98%, so there is not a lot of wiggle room. He does not own this one. The company is looking to buy KML. He has a short on this simply because they are already long KML. The balance sheet is better than most pipelines out there. However, it does not score cheaply enough on valuations for him to want to buy today. Yield 5.2%

DON'T BUY
DON'T BUY
May 22, 2019
The expectation was that the parent company would take what was left over after the sale of Trans Mountain. That has not yet happened, so the stock has dropped in value and returned capital back to investors. There has been no discussion on future plans, so there is nothing to get excited about here. No reason to own it.
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The expectation was that the parent company would take what was left over after the sale of Trans Mountain. That has not yet happened, so the stock has dropped in value and returned capital back to investors. There has been no discussion on future plans, so there is nothing to get excited about here. No reason to own it.
COMMENT
COMMENT
March 6, 2019
Doesn't know why it plunged briefly in January. The pipelines have historically been a great investment--good, long-term contracts--and he likes this space, but he can't really comment on KML itself.
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Doesn't know why it plunged briefly in January. The pipelines have historically been a great investment--good, long-term contracts--and he likes this space, but he can't really comment on KML itself.
BUY
BUY
March 6, 2019
A good midstreamer that pays a decent 5% dividend. Likes this space. This is a steady eddy and he's stick with it even with an earnings miss.
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A good midstreamer that pays a decent 5% dividend. Likes this space. This is a steady eddy and he's stick with it even with an earnings miss.
TOP PICK
TOP PICK
February 14, 2019
The saga is a bit of a shame. They have a stub business left over. They paid a dividend well supported by cash flow. They are in a strategic review to be completed in April. (Analysts’ price target is $29.44)
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The saga is a bit of a shame. They have a stub business left over. They paid a dividend well supported by cash flow. They are in a strategic review to be completed in April. (Analysts’ price target is $29.44)
HOLD
HOLD
December 28, 2018
Entire energy sector has fallen off a cliff. Stay with Kinder Morgan, energy as a whole will come back. The 4-year cycle reset right around the corner should help put a floor under all these sectors that have been under pressure.
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Entire energy sector has fallen off a cliff. Stay with Kinder Morgan, energy as a whole will come back. The 4-year cycle reset right around the corner should help put a floor under all these sectors that have been under pressure.
COMMENT
COMMENT
July 12, 2018

Now they have a lot of cash. The intention of the parent company is not very clear. They could use it for distribution or other things. We don’t know. Next step is doing what they are doing.

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Now they have a lot of cash. The intention of the parent company is not very clear. They could use it for distribution or other things. We don’t know. Next step is doing what they are doing.

DON'T BUY
DON'T BUY
May 30, 2018

What is in it for the shareholders when the Canadian government is involved? Will they make Canada a friendly place to invest again? There is so much uncertainty, so he would not be considering this as an investment.

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What is in it for the shareholders when the Canadian government is involved? Will they make Canada a friendly place to invest again? There is so much uncertainty, so he would not be considering this as an investment.

WATCH
WATCH
April 16, 2018

They have a project that politicians are talking about de-risking but it has not been done and there is no construction taking place. This is a show-me stock.

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They have a project that politicians are talking about de-risking but it has not been done and there is no construction taking place. This is a show-me stock.

COMMENT
COMMENT
March 14, 2018

Kinder Morgan Canada (KML-T) vs Kinder Morgan (KMI-N). He is luke-warm on both of these. Higher interest rates will put downward pressure on these pipeline/utility sector stocks. KML is trading above fair value he thinks and does not have the earnings to support these prices.

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Kinder Morgan Canada (KML-T) vs Kinder Morgan (KMI-N). He is luke-warm on both of these. Higher interest rates will put downward pressure on these pipeline/utility sector stocks. KML is trading above fair value he thinks and does not have the earnings to support these prices.

COMMENT
COMMENT
October 20, 2017

Because it looked kind of dicey to get approval, and its very strange timing of the IPO, he didn’t participate. They priced it down, but not low enough. To help with a financing, they came out with a very attractive preferred, which he bought.

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Because it looked kind of dicey to get approval, and its very strange timing of the IPO, he didn’t participate. They priced it down, but not low enough. To help with a financing, they came out with a very attractive preferred, which he bought.

DON'T BUY
DON'T BUY
August 23, 2017

He looked at it when it came public. If they can get the expansion of the pipeline to go through they could do well. Roll your dice on whether it comes through and he does not know how long it will take.

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He looked at it when it came public. If they can get the expansion of the pipeline to go through they could do well. Roll your dice on whether it comes through and he does not know how long it will take.

COMMENT
COMMENT
June 5, 2017

Kinder Morgan (KMI-N) or Kinder Morgan Canada (KML-T)? In the short term, he would choose neither. If certain things happen, he would look at the Kinder Morgan Canada position. The Canadian subsidiary, without the pipeline expansion, is worth $15. That is just on the assets and the quality of the assets. Since you can get the shares close to $15, you are getting all the optionality. He is waiting for an opportunity to get this under $16. In the US, it is an MLP, and he is not positive on the MLP market. There is just so much debt associated in that area.

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Kinder Morgan (KMI-N) or Kinder Morgan Canada (KML-T)? In the short term, he would choose neither. If certain things happen, he would look at the Kinder Morgan Canada position. The Canadian subsidiary, without the pipeline expansion, is worth $15. That is just on the assets and the quality of the assets. Since you can get the shares close to $15, you are getting all the optionality. He is waiting for an opportunity to get this under $16. In the US, it is an MLP, and he is not positive on the MLP market. There is just so much debt associated in that area.

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