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Kinder Morgan Inc Class P KMI

Rating as of

Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Kinder Morgan Trending Ahead of 2021 Plan After Strong First Half, Still Searching For Growth

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $21 per share fair value estimate for Kinder Morgan after the company announced $516 million, or $0.23 per share, of adjusted earnings in the second quarter, keeping it on track to surpass management's initial full-year financial projections. We are reaffirming our no-moat and stable moat trend ratings. The stock trades at a 17% discount to our fair value estimate and a 6% yield as of late July, offering what we think is an attractive investment opportunity.

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Company Profile

Business Description

Kinder Morgan is one of the largest midstream energy firms in North America with 70,000 miles of U.S. natural gas pipelines and nearly 10,000 miles of oil and refined products pipelines. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.

Contact
1001 Louisiana Street, Suite 1000
Houston, TX, 77002
T +1 713 369-9000
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 10,524

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