Kinder's 2024 outlook was a bit better than our expectations. After updating our model, we are increasing our fair value estimate to $20 per share from $17.50 a share. Our narrow moat rating is unchanged.
Kinder Morgan's natural gas midstream footprint is unrivaled in North America, giving it high-return investment opportunities as gas supply/demand fundamentals shift.
Kinder has yet to pursue stakeholder partnerships for new pipeline projects like its large Canadian peers have done, which could help improve stakeholder relations.
|
Metric
|
KMI
|
ET
|
ETRN
|
|---|---|---|---|
Price/Earnings (Normalized) | 15.89 | 10.77 | 14.00 |
Price/Book Value | 1.29 | 1.60 | 4.33 |
Price/Sales | 2.47 | 0.55 | 3.15 |
Price/Cash Flow | 7.37 | 4.42 | 6.81 |
|
Metric
|
KMI
|
ET
|
ETRN
|
|---|---|---|---|
Quick Ratio | 0.25 | 0.81 | 0.65 |
Current Ratio | 0.39 | 1.05 | 0.75 |
Interest Coverage | 2.85 | 3.20 | 1.88 |
|
Metric
|
KMI
|
ET
|
ETRN
|
|---|---|---|---|
Return on Assets (Normalized) | 3.58% | 5.91% | 3.93% |
Return on Equity (Normalized) | 8.12% | 23.09% | 43.47% |
Return on Invested Capital (Normalized) | 6.10% | 9.57% | 8.24% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|
ENB
| Enbridge Inc | Lmgjwxh | $74.6 Bil | |
EPD
| Enterprise Products Partners LP | Pfqg | $57.9 Bil | |
ET
| Energy Transfer LP | Lmhs | $46.3 Bil | |
WMB
| Williams Companies Inc | Thzgx | $44.1 Bil | |
LNG
| Cheniere Energy Inc | Ktppf | $40.5 Bil | |
OKE
| ONEOK Inc | Tbdfhvx | $40.4 Bil | |
TRP
| TC Energy Corp | Hjbwzmn | $39.3 Bil | |
MPLX
| MPLX LP Partnership Units | Dxlwn | $36.4 Bil | |
CQP
| Cheniere Energy Partners LP | Nyt | $29.5 Bil |
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