RE:RE:Knife catching specialI like the way they spun it trying to soften the blow. I'm guessing 50% divi cut.
"KMI has now completed its 2016 budget process and expects to generate 2016 distributable cash flow of slightly over $5 billion, which would be sufficient to support dividend growth in the range discussed in the third quarter call. Alternatively, this cash flow can be used to fund some or all of KMI’s equity needs for 2016. KMI’s board will be reviewing the dividend policy and financing plans in the coming days and the company will announce that policy and plan when finalized. KMI will construct its 2016 plan to maintain an investment grade rating with all three agencies. Further KMI does not plan to issue equity at current prices."
Stock will continue to fall until the investment community does exactly what you are doing resourceful701, makes perfect sense.
This would be a new position for me as well. Also a little concerned about the sector right now....
But I just love catching these bounces but I'm guessing we can pick this up in the low 15s right now assiming that support doesn't get shattered as well.