The numbers were never going to be pretty for North American energy midstream companies. Management teams warned this spring that Covid-19 fallout was crushing volumes on both the upstream and downstream ends of the business. But with Kinder Morgan Inc. (NYSE: KMI) clearly managing these turbulent times, investors can afford to remain patient with this sector.
With the virus still spreading and shutdowns continuing, forecasting COVID-19’s eventual damage to human health and the global economy is still a matter of conjecture, making it difficult for management teams to set guidance for the rest of 2020.
However, Q1 numbers and guidance, to be released over the next several weeks, will be absolutely critical to making good decisions, particularly where dividend safety is concerned.
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Roger's current take and vital statistics on more than 200 essential-services stocks.