Kinder Morgan Inc Class P (KMI)

Over the past six months, Kinder Morgan's stock price has decreased by 13.39%, but it has increased by 28.73% over the past year. In Q2 2025, KMI reported earnings that met EPS expectations and surpassed revenue forecasts, also announcing a 2% increase in its quarterly dividend. The company issued its 2024 Sustainability Report. Analysts have provided various ratings and price targets, with an average target price of $31.82. KMI's subsidiary acquired Outrigger Energy II LLC's natural gas network in the Bakken Shale for $640 million. S&P Global Ratings revised its outlook on KMI to positive, affirming its 'BBB' rating. ArcLight Capital Partners, LLC acquired a 25% stake in the Natural Gas Pipeline Company of America from Kinder Morgan.

Demand seasonality for Kinder Morgan's products and services is influenced by natural gas, refined petroleum products, and CO2. Natural gas demand is higher during colder months for heating and warmer months for power generation. Refined petroleum products demand increases during peak travel seasons. CO2 demand is tied to crude oil production activities and EOR project economics. Kinder Morgan's fee-based contracts help mitigate the impact of demand seasonality and commodity price volatility.

Kinder Morgan, Inc. (KMI) is a North American energy infrastructure company specializing in the transportation and storage of energy products and other commodities. It operates in the Industrial Services sector, specifically in Oil & Gas Pipelines. KMI's business is primarily fee-based, with about 95% of its 2025 budgeted cash flow from take-or-pay, fee-based, or hedged contracts. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment includes various natural gas facilities, making KMI the largest natural gas pipeline operator in the U.S. The Products Pipelines segment focuses on transporting and storing refined petroleum products. The Terminals segment handles liquids and dry bulk terminal operations across North America. The CO2 segment is involved in carbon dioxide production, transportation, and marketing.

Kinder Morgan's infrastructure network spans across North America, primarily serving the United States and Canada. The company owns or operates approximately 83,000 miles of pipelines and 143 terminals, including about 72,000 miles of natural gas pipelines. The Trans Mountain pipeline, previously a significant asset in Canada, is now publicly owned and operated.

Kinder Morgan's brand reputation appears stable, with a positive outlook from analysts and a focus on natural gas infrastructure growth. The company is highlighted for its stable cash flows and strategic positioning in the U.S. natural gas market. S&P Global Ratings revised its outlook on KMI to positive in February 2025. KMI is strategically shifting towards becoming a pure-play natural gas company, capitalizing on growing infrastructure demand. The company has a significant project backlog, with natural gas-focused projects accounting for about 93% of the queue. The acquisition of Outrigger Energy II LLC's network in the Bakken Shale further solidified KMI's position in natural gas gathering and processing. The issuance of its 2024 Sustainability Report indicates a commitment to transparency and addressing environmental factors.

Kinder Morgan's ownership is a mix of institutional, retail, and individual investors. Institutional investors hold approximately 66.72% to 74.23% of the shares, with major holders including Vanguard Group Inc and BlackRock, Inc. Retail investors hold approximately 60.69% of the stock. Insiders own about 0.78% to 13% of the company, with Richard Kinder, the Executive Chairman, holding the most shares.