Kinder Morgan Inc Class P (KMI)

Over the past six months, Kinder Morgan's stock price has seen an appreciation. As of June 18, 2025, the share price was $27.57, an increase of 39.24% from $19.80 on June 20, 2024. More recently, as of June 27, 2025, KMI shares had gained 45.4% in the past year, outperforming the oil-energy sector and the S&P 500. Key events that may have impacted the stock include the acquisition of South Texas assets, acquisition in North Dakota, natural gas transportation contract, first quarter 2025 financial results, sale of stake in Natural Gas Pipeline Company of America, investor meetings and outlook, pipeline expansion open season, and Southern Natural Gas pipeline system expansion.

The demand for Kinder Morgan's products and services is influenced by fluctuations in supply and demand for commodities, with natural gas demand affected by weather conditions, especially during winter. Kinder Morgan's management anticipates a significant increase in demand for its services, driven by the expanding U.S. gas industry. They project total gas demand in the U.S. to rise by 19% by 2030, with LNG and Mexican exports expected to surge by 98% over the same period. The company also sees substantial growth opportunities in power sector gas demand, including from AI and data centers, coal conversions, and new capacity to support renewable energy. Kinder Morgan's LNG operations offer a reliable supply, with redundant systems and mobile fueling stations to meet extra demand or peak shaving needs, which can be particularly useful for temporary or seasonal operations.

Kinder Morgan, Inc. (KMI) is one of the largest energy infrastructure companies in North America, specializing in owning and controlling oil and gas pipelines and terminals. The company operates primarily in the midstream energy sector, focusing on the transportation, storage, and distribution of energy products. Its main business segments include natural gas pipelines, products pipelines, terminals, and CO2. Kinder Morgan's business model is largely fee-based, generating revenue from transporting, storing, and handling energy products, which helps reduce exposure to commodity price volatility.

Kinder Morgan's operations are primarily located in the United States and Canada. The company owns an interest in or operates approximately 79,000 to 83,000 miles of pipelines and 139 to 143 terminals throughout North America. Its extensive infrastructure network serves as a crucial link between producers, suppliers, and consumers, facilitating the efficient distribution of essential commodities. The company has a strong operational presence in major regions such as Texas and has expanded its natural gas gathering and processing capabilities in the Bakken Shale.

Kinder Morgan is recognized for its commitment to safety and environmental stewardship, receiving an MSCI ESG rating upgrade to AAA in 2024. Operationally, it has achieved an approximately 8% reduction in methane emissions since 2021 and surveys 100% of its natural gas compressor stations quarterly. Kinder Morgan has also set ambitious climate commitments, aiming for net-zero emissions by 2050 for both Scope 1 and Scope 2 emissions, and a near-term target to reduce methane emissions intensity to 0.31% by 2025. However, historically, Kinder Morgan has faced reputation challenges related to environmental incidents and past legal issues, including environmental concerns, pipeline leaks and explosions, and past legal issues.

Kinder Morgan, Inc. has a mixed ownership structure, including institutional, individual, and retail investors. Institutions hold a significant stake in Kinder Morgan, with approximately 68% ownership. Richard D. Kinder, a co-founder and Executive Chairman, is the largest individual shareholder, owning 11.57% of the company. The general public, typically individual investors, holds approximately a 20% to 47.38% stake in Kinder Morgan.