We take a last bite at the apple with another discussion on Kinder Morgan. Seeking Alpha author Dividend Streamer, who has focused on Kinder Morgan in his Seeking Alpha time, discusses how he carves up the company's cash flow and what he sees as the company's enduring advantages.
Topics covered:
3:30 minute mark - KMI - toll road or landlord? 7:00 - KMI's secret sauce - it's in the fine print (and Richard Kinder's imprint on the company) 18:30 - Getting into the risks of the story, if it's not commodity pricing 23:15 - DCF 2.0, distributable cash flow but better... 28:30 - The difference between a trucking company's capital expenditures and a pipeline company's capital expenditures (cap-ex) 33:45 - How to apply DCF 2.0 to valuation, and the trade-off between shareholder returns and growth 44:15 - Factoring in debt 52:00 - The alternative - modeling future cash flows - and the challenges therewith 1:01:30 - Flipping the script - what are final takeaways from this series?