Author Bio
Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo
Kinder Morgan (NYSE:KMI) has agreed to acquire Stagecoach Gas Services, a natural gas pipeline and storage joint venture currently owned by
Crestwood Equity Partners (NYSE:CEQP). It s paying $1.225 billion in cash for Stagecoach, which comprises four natural gas storage facilities and three pipelines in the Northeast.
It s a notable deal for all parties. The transaction will provide an immediate boost to Kinder Morgan s cash flow. Meanwhile, it will significantly bolster the financial profile of both sellers. Those benefits will enhance all three companies ability to pay their high-yielding dividends.
Crestwood Equity Partners LP (CEQP) Q1 2021 Earnings Call Transcript
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Crestwood Equity Partners LP (CEQP) Q1 2021 Earnings Call Transcript
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.