4 Things You Didn't Know About Kinder Morgan, Inc.
Most investors likely know something about Kinder Morgan (NYSE: KMI) since it is one of the largest and most popular energy infrastructure companies in North America. If nothing else, many know the company for its above-average dividend, which it supports with a vast portfolio of pipelines and storage terminals that generate stable fee-based cash flow. That said, while many know the basics, few probably know these four interesting facts about the company.
Before forming Kinder Morgan, Executive Chairman Richard Kinder was the president of Enron. However, he stepped down in 1997 -- several years before Enron's implosion -- and teamed up with William Morgan and other investors to buy the general partner of a small publicly traded pipeline company called Enron Liquids Pipeline. They called their new endeavor Kinder Morgan Energy Partners and set out with a plan to use the master limited partnership (MLP) structure as a growth vehicle to build and buy energy infrastructure assets. At the time, the company only had 175 employees and an enterprise value of $325 million. However, $59 billion of investments and acquisitions later, and the company is one of the largest operators of energy infrastructure assets in North America.
Image source: Getty Images.
Source: Fool.com
