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Kinder Morgan Inc Class P KMI

Morningstar Rating
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Stock XNYS Rating as of
$21.37 +0.30 (1.42%)
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As of Delayed Price Closed
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Company Report

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Kinder Morgan Earnings: New SNG Project to Serve Growing Power Generation Demand

Stephen Ellis

Kinder's second-quarter earnings were solid, in our view. We see no reason to change our $22 per share fair value estimate or narrow moat rating. The firm reaffirmed 2024 guidance of $8.16 billion in EBITDA, essentially matching our view, which is up 8% over 2023 levels. Due to its expansive footprint of assets, we continue to think Kinder is one of the better-positioned US midstream firms to capture artificial intelligence and data center demand out to 2030, as well as higher US LNG exports and Mexican natural gas exports.

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Price vs Fair Value

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KMI is trading at a 435% premium.
Price
$21.37
Fair Value
$32.00
Uncertainty
Medium
1-Star Price
$56.50
5-Star Price
$29.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Kinder Morgan's natural gas midstream footprint is unrivaled in North America, giving it high-return investment opportunities as gas supply/demand fundamentals shift.

Bears

Kinder has yet to pursue stakeholder partnerships for new pipeline projects like its large Canadian peers have done, which could help improve stakeholder relations.

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Trading Information

Previous Close Price
$21.07
Day Range
$21.14–21.43
52-Week Range
$15.89–21.86
Bid/Ask
$21.16 / $21.63
Market Cap
$47.43 Bil
Volume/Avg
12.6 Mil / 14.1 Mil

Key Statistics

Price/Earnings (Normalized)
18.91
Price/Sales
3.09
Dividend Yield (Trailing)
5.31%
Dividend Yield (Forward)
5.38%
Total Yield
5.76%

Company Profile

Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. 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.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Mid Value
Total Number of Employees
10,891
Website
https://www.kindermorgan.com

Competitors

Valuation

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Metric
KMI
ET
EPD
Price/Earnings (Normalized)
 18.9113.1711.63
Price/Book Value
 1.561.812.35
Price/Sales
 3.090.651.26
Price/Cash Flow
 7.445.107.96
Price/Earnings
KMI
ET
EPD

Financial Strength

Metric
KMI
ET
EPD
Quick Ratio
 0.230.930.60
Current Ratio
 0.371.180.93
Interest Coverage
 2.783.185.43
Quick Ratio
KMI
ET
EPD

Profitability

Metric
KMI
ET
EPD
Return on Assets (Normalized)
 3.57%5.75%8.33%
Return on Equity (Normalized)
 8.24%22.11%21.22%
Return on Invested Capital (Normalized)
 6.22%9.47%12.29%
Return on Assets
KMI
ET
EPD
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Oil & Gas Midstream Industry Comparables

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1-Day Chart
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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
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HphyBnlnk$54.9 Bil
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WMB
DnsltlqvNzxkrj$51.8 Bil
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MPLX
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PrnjfcyMgngwkj$43.6 Bil
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DjvzzptqzYdwp$40.5 Bil
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NcfrvsrtFpdk$29.2 Bil

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