KML CN

Kinder Morgan Canada Limited

Energy, Event Driven/Special Sit


Presented:05/01/2018
Price:CA$16.65
Cap:$1.40B
Current Price:CA$14.91
Cap:$0.42B

Presented

Date05/01/2018
PriceCA$16.65
Market Cap$1.40B
Ent Value$3.61B
P/E Ratio38.78x
Book ValueCA$8.98
Div Yield3.84%
Shares O/S103.50M
Ave Daily Vol347,002
Short IntN/A

Current

PriceCA$14.91
Market Cap$0.42B
Kinder Morgan Canada Ltd. provides fee-based services to customers from an asset portfolio consisting of energy-related pipelines and liquid and bulk terminalling facilities. It operates through two segments: Pipelines and Terminals. The Pipelines segment consists of trans mountain, Cochin, puget sound and jet fuel pipeline systems. The Terminals segment includes Vancouver wharves terminal facilities located in western Canada that provide merchant storage as well as rail terminals offering loading and delivery services for liquids products. The company was founded on April 7, 2017 and is headquartered in Calgary, Canada.

Publicly traded companies mentioned herein: Kinder Morgan Canada Ltd (KML CN), Kinder Morgan Inc (KMI)

Highlights

Kinder Morgan Canada’s move to suspend all nonessential spending on its Trans Mountain Expansion Project (TMEP) and issue an ultimatum to the government in early April (2018) was a smart one, in the presenter’s opinion. He is long the stock (KML CN) and believes the May 31 deadline for British Columbia to support the project is a near-term catalyst. With a 3.9% yield and C$475MM of expected EBITDA this year supporting its valuation at present levels (C$16.50, or ~13x EV/EBITDA), downside risk should be limited to 10% - 15%. Upside, should the TMEP finally be allowed to move forward, unencumbered by delays, could be ~80%.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.