Kinder Morgan, Inc. (KMI): A Silver Lining

We experienced unanticipated twists and turns over the past number of months with Kinder Morgan, Inc. (KMI). The oil and gas sector’s cyclical downturn was well underway, KMI’s cash flow remained strong, yet the share price fell with others in the sector. The negative sentiment also turned to KMI’s increased debt that was used in part to fund the […]

Kinder Morgan, Inc. (KMI): Opportunity for the Patient Investor

The KMI investment has hit a rough patch right along with the entire midstream infrastructure sector. The share price decline in KMI is disappointing and causes investors to wonder if we missed something. We did a thesis [Source], analyzed the data and came to the conclusion that KMI has the potential for a good risk […]

A Closer Look at Kinder Morgan (KMI) Part II

This is the second part of a two part follow up on the Kinder Morgan investment thesis [Source] where we estimated Kinder Morgan Inc. (KMI), had the potential for attractive returns in a three to five year time frame. In Part I [Source] we take a closer look at KMI’s distribution and the company’s guidance for […]

A Closer Look at Kinder Morgan (KMI) Part I

We posted the investment thesis in October, 2014 [Source] after we estimated Kinder Morgan Inc. (KMI), had the potential for attractive returns in a three to five year time frame. In Part I we take a closer look at KMI’s distribution and the company’s guidance for distribution growth. In Part II, we’ll do the same […]

Dear Blog Readers

Dear Blog Readers, Just wanted to share an upcoming change with you. In the past we posted on the reported quarterly results of each company in the Value by George (VBG) portfolio and how the quarterly results impacted our investment thesis. In doing so it was pretty much the same material the company or others […]

Kinder Morgan Inc. (KMI), Reports Good 2Q15 Results

Last week Kinder Morgan Inc. (KMI), reported second quarter 2015 (2Q15) results. Overall it was a decent report and our investment thesis remains on track. You will recall our investment thesis’ total return centers on management’s projected dividend growth and the resultant share price appreciation resulting from the consolidation of the Kinder Morgan companies last […]

Brookfield Asset Management (BAM) 1Q15: Creating Opportunity with Work

Brookfield Asset Management (BAM): reported [Source] Funds from operations (FFO) during the 1Q15 were $557 million, or $0.82/share, up 14% from the 1Q14. FFO benefitted from expansion of the asset management operations, contributing a 27% increase in fee related earnings. Additional contributions from growth initiatives were offset by reduced contributions from renewable energy when compared […]

Brookfield Infrastructure (BIP) Reports 1Q15; Solid Quarter of Progress

Financial Summary: Funds from Operations (FFO), BIP’s measure of cash flow, for the first quarter 2015 (1Q15) was $186 million or $0.89/unit unchanged when compared to 1Q14. Results were unchanged as contributions from new investments and improvements in existing businesses were largely offset by a $15 million impact foreign exchange movements resulting from the strong […]

American International Group (AIG) 1Q15: Management Focused on the Right Things

AIG reported 1Q15 earnings [Source] and it is a good report. Management is focused on improving operating performance and rightly so as this will be the source of future returns for shareholders. Most management teams, the smart ones anyway, tell shareholders that shareholder returns are important to them. However their actions demonstrate if this is […]

Brookfield Property Partners (BPY) Reports 1Q15 Results, Continued Good Progress

Brookfield Property Partners (BPY) reported [Source] Funds from Operations (FFO) of $181 million or $0.25/unit for the first quarter of 2015 compared with $157 million or $0.28/unit for the 1Q14. The increase in FFO was driven the additional interests in Brookfield Office Properties Inc. (BPO) and Canary Wharf Group plc (Canary Wharf) and same store […]