Kinder Morgan CEO Steve Kean has released a video pitching KMI shares at an all to low price. Kean points out that those low prices are unreasonable due to the fee based nature of Kinder Morgans businesses. Kean points to numerous facts including the likelihood that new Kinder Morgan projects will not be cancelled during a period when the competition is seeing future projects being cancelled at an alarming rate.
Kean believes that the sell off in its stock price this year has been completely indiscriminate, which is creating a buying opportunity for investors. And insiders are backing up his opinion with their own money. Kinder Morgan has very little exposure to commodity prices as its cash flow is locked up while its growth is actually primarily driven by demand for inexpensive natural gas. That's why he remains confident that the company's current dividend is safe and so is the plan to grow the payout by 10% per year through 2020.
Watch the video below.
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