HOUSTON - Kinder Morgan , Inc. (NYSE: NYSE:KMI), a major player in North American energy infrastructure, announced Monday the nomination of Amy W. Chronis for election to its board of directors during the upcoming annual stockholders' meeting on May 8, 2024. Ms. Chronis, set to retire from her Senior Partner role at Deloitte on June 1, 2024, has been with the company since June 2002 and has held multiple leadership positions.
Chronis' tenure at Deloitte included serving as Vice Chair and US Energy & Chemicals Industry Leader and as the Managing Partner for the Houston practice. Her extensive experience in the energy sector and her financial expertise, as a CPA licensed in Texas, are expected to contribute to Kinder Morgan’s strategic growth and governance.
In addition to her professional career, Ms. Chronis is actively involved in several non-profit and policy organizations, including the Greater Houston Partnership, the United Way of Greater Houston, Texas 2036, and Central Houston, Inc. Her educational background includes a BSBA degree from The Ohio State University and an Executive Education program at Columbia Business School.
KMI Executive Chairman Richard D. Kinder expressed confidence in Chronis' nomination, highlighting her financial and accounting acumen, knowledge of the energy industry, and expertise in executive leadership, strategic planning, business transformation, technology, sustainability, and enterprise risk management.
Kinder Morgan owns and operates a vast network of pipelines and terminals across North America. The company is dedicated to delivering energy, with a keen focus on advancing energy solutions and lower carbon initiatives.
This announcement is based on a press release statement from Kinder Morgan, Inc.
InvestingPro Insights
As Kinder Morgan, Inc. (NYSE: KMI) prepares for its annual stockholders' meeting and the election of Amy W. Chronis to its board, the company's financial health and market performance remain key factors for investors. Kinder Morgan's commitment to stable growth and governance is reflected in its dividend track record. An InvestingPro Tip notes that KMI has raised its dividend for 6 consecutive years and has maintained dividend payments for 14 consecutive years, underscoring a reliable income stream for shareholders.
On the financial front, Kinder Morgan's current market capitalization stands at $40.7 billion, and the company has demonstrated a solid operating income margin of 27.7% over the last twelve months as of Q4 2023. Despite a revenue decline of 20.14% during the same period, the company's gross profit margin remains strong at 49.49%. These metrics suggest a robust operational efficiency which is critical as the company navigates the dynamic energy sector.
Investors should also take note of the stock's current position. According to another InvestingPro Tip, KMI is trading near its 52-week high, with the price at 99.51% of this peak. This could indicate market confidence in the company's prospects, especially as analysts predict profitability for the year.
For those interested in further insights and metrics on Kinder Morgan, InvestingPro offers additional tips and comprehensive data analysis. Discover more about KMI's performance and get an edge in your investment strategy by using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Keep in mind, there are 9 more InvestingPro Tips available for Kinder Morgan on the platform, offering a deeper dive into the company's financial nuances.
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