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KINDER MORGAN, INC.

(KMI)
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Kinder Morgan to Buy Kinetrex Energy for $310 Million

07/16/2021 | 09:10am EDT

By Dave Sebastian

Kinder Morgan Inc. said it has agreed to buy renewable natural gas developer Kinetrex Energy from an affiliate of Parallel49 Equity for $310 million.

The deal includes two small-scale, domestic liquefied natural gas production and fueling facilities, as well as a 50% interest in a landfill renewable natural gas facility, Kinder Morgan said Friday. The transaction also includes three additional renewable natural gas facilities with signed commercial arrangements, it said.

Kinder Morgan said it expects the deal to add to its shareholders as the three renewable natural gas facilities become operational in the next 18 months.

Kinder Morgan said key members of the Kinetrex management team will be joining the company to pursue new projects. Kinetrex President and Chief Executive Aaron Johnson will serve as president of renewable natural gas at Kinder Morgan and report to Kinder Morgan Energy Transition Ventures President Jesse Arenivas, Kinder Morgan said.

The companies expect the deal to close in the third quarter.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

07-16-21 0909ET

Stocks mentioned in the article
ChangeLast1st jan.
KINDER MORGAN, INC. 0.24% 16.53 Delayed Quote.20.92%
WTI 0.93% 73.961 Delayed Quote.52.07%
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Analyst Recommendations on KINDER MORGAN, INC.
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Financials (USD)
Sales 2021 14 896 M - -
Net income 2021 1 707 M - -
Net Debt 2021 31 515 M - -
P/E ratio 2021 22,0x
Yield 2021 6,53%
Capitalization 37 466 M 37 466 M -
EV / Sales 2021 4,63x
EV / Sales 2022 5,25x
Nbr of Employees 10 524
Free-Float 95,4%
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Technical analysis trends KINDER MORGAN, INC.
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Mean consensus HOLD
Number of Analysts 24
Last Close Price 16,53 $
Average target price 18,75 $
Spread / Average Target 13,4%
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Managers and Directors
Steven J. Kean Chief Executive Officer & Director
Kimberly Allen Dang President & Director
David Patrick Michels Chief Financial Officer & Vice President
Richard D. Kinder Executive Chairman
Mark E. Huse Chief Information Officer & Vice President
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