Kinder Morgan to pay $1.2B for Crestwood-Consolidated Edison natural gas JV

“Kinder had a $1.4 billion cash balance as of March 31, 2021, boosted by a first-quarter 2021 $759 million gross margin from the February 2021 winter storm and cold snap,” Fitch Ratings said. “The storm demonstrates the value of gas storage and pipeline assets, and Fitch views the Stagecoach assets favorably given the regulatory issues facing construction of new assets, particularly in the northeast.”


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