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Kinder Morgan, Inc. Stock Price: Quote, Forecast, Splits & News (KMI)

Perplexity Finance

Company Profile

Kinder Morgan, Inc. Price & Performance (KMI)

Stock Performance

Updated Apr 25, 8:00 PM UTC

Kinder Morgan, Inc.

$26.85USD

-$0.02 (-0.07%)

After Hours

+$0.14 (+0.52%)

Open

$26.72

Market Cap

$59.66B

Year High

$31.48

High

$26.89

P/E Ratio

23.2

Year Low

$18.13

Low

$26.59

Dividend Yield

4.28%

Volume

9.26M

Latest News

Analysts Maintain Optimism Despite Kinder Morgan's Mixed Q1 Results
Apr 25, 2025
Kinder Morgan reported first-quarter earnings per share of $0.34, narrowly missing analyst estimates, but revenue surpassed expectations at $4.24 billion. The company reaffirmed its 2025 outlook, projecting steady earnings and dividend growth. Multiple analysts continue to rate the stock as a buy, citing robust operational performance and resilient natural gas demand.123
Investor Sentiment Improves as Kinder Morgan's Dividend Remains Strong
today
Kinder Morgan's dividend yield stands at 4.24%, placing it among the top 25% of dividend payers. Short interest in the stock has decreased by 8.64% recently, signaling growing investor confidence. However, the dividend payout ratio remains high, raising questions about long-term sustainability if earnings growth slows.45
Market Activity Highlights Kinder Morgan’s Resilient Appeal Amid Shareholder Moves
Apr 4, 2025
Recent trading saw MGO One Seven LLC acquiring over 54,000 shares of Kinder Morgan, while Banco Bilbao Vizcaya Argentaria S.A. sold nearly 10,000 shares. The stock price remains stable near $26.87, reflecting both institutional confidence and ongoing debates about valuation as the company maintains solid financials and a steady dividend.67

What's Happening

Peers

Earnings

Report Date

Apr 16, 2025

Reported Revenue

4.2B

Beat +0.04%

Avg 1d Change

1.13%

Report Period

Q1 2025

Reported EPS

0.34

Miss -3.85%

Implied Move 1d

3.16%

Transcript

11m

This optimistic view of the market and its favorable impact on the growth and prosperity of midstream energy companies like Kinder Morgan, was embraced during the last year or so by a significant number of investors and analysts. That view seemed to accelerate with the perceived opportunity for natural gas to fuel AI and data centers. Recently, that optimistic view has been questioned by some on a couple of different grounds. First, in the aftermath of the deep sick seek announcement, it seemed to some critics that growth in gas demand for data centers and electric power in general was too optimistic. Secondly, the announcement of expanded tariffs by the Trump administration inspired others to question whether this would result in less demand for US LNG thereby reducing the amount of feed gas required in this country.

11m 57s

Let me try to put all of this in perspective by detailing how we view the drivers of natural gas demand growth over the rest of this decade. Let's start with some history as prologue to the future. In 02/2005, U. S. Demand for natural gas was approximately 60 Bcf a day.

12m 15s

In 2024, that demand was almost a hundred and nine Bcf a day. An increase of roughly 80%. That's pretty astounding growth over that twenty year span. Now let's look at the future growth between now and the end of this decade with all due deference to Mark Twain's famous quip that making predictions is very especially if they concern the future. Most estimates of growth between now and 02/1930 range between twenty and twenty eight Bcf a day and our internal projections also fall in that range. The overwhelming driver of that growth is increased LNG export demand. We estimate that growth to be somewhere around six sixteen Bcf a day with the great bulk of that coming from facilities already under construction or that have been FID. To FID a project means it is supported by long term contracts with creditworthy entities Otherwise, these facilities simply could not be financed. I might add parenthetically that our contracts with LNG export facilities are also supported by long term contracts. But notwithstanding those facts, the naysayers argue that a trade war with China will lead to a diminution in need for US LNG. In response, let me mention two countervailing factors.

13m 41s

First, China has not imported any US LNG since February, and yet feed gas demand is setting records. Averaging 15.5 Bcf a day in the first quarter and approaching 17 Bcf a day on several recent days. Secondly, our view is that any loss of the Chinese market will be more than offset by the efforts of governments in the EU and Asia to increase the imports of US LNG to reduce trade imbalances, and put themselves in a better negotiating position with regard to US tariffs. South Korea and Indonesia, for example, are already in specific discussions on that strategy. And regarding the EU, we believe Europe's apparent and off stated reluctance to ever again allow Russia to be the dominant supplier of natural gas to Europe.

14m 38s

Will obviously increase its use of US LNG. Based on all these factors, we remain very bullish on growth in US LNG exports. Now in addition to growth in LNG, feed gas demand we see NYSEQ upticks in exports to Mexico, power demand driven in part by the surge in AI and data centers, and residential commercial use. Anecdotally, the new projects we have announced at Kinder Morgan over the last couple of quarters are supported in large part by long term contracts with utilities in the Southeastern US. An indication of the need for more gas to feed electric generation. The point of all this detail is to put into per sect perspective the drivers of demand for the product we transport. So that any intelligent investor can make a reasoned assessment of the natural gas market for the rest of this decade and not be whipsawed by the perceived ups and downs of just one or two facets of the growth story.

15m 41s

In truth, that growth is supported, we believe, by an array of factors that reflect the strength of natural gas as an important source of energy for years to come.

15m 51s

And with that, I'll turn it over to Kim.

15m 53s

Okay. Thanks, Rich. We had a good quarter.

15m 56s

The financial results, David will take you through, are essentially in line with our expectations. For the year, we currently expect to exceed budget by at least the contribution from the outright Outrigger acquisition. Our natural gas performance versus budget is very strong. In the first quarter, we saw record natural gas demand with demand in the market growing by 6,800,000,000 cubic feet a day driven by 10% increase residential and commercial demand and a 15% increase in LNG demand. Future natural gas fundamentals continue to be strong with demand expected to grow between now and 02/1930 as Rich just took you through. And I would add that even if a portion of the roughly $7,000,000,000,000 in new U. S. Investment the administration has announced occurs. Believe that would drive demand that is not currently captured in projections. During the quarter, we added approximately $900,000,000 to our project backlog. [indiscernible] taking the backlog to $8,800,000,000 after adjusting for the project's placed in service. Of the $900,000,000 over 70% is primarily focused on serving power demand. The largest project Bridge is a $430,000,000 extension of our Elba Express pipeline supported by a thirty year contract. It will deliver about three twenty five million cubic feet a day into South Carolina to primarily serve increased power demand and is easily expandable to over a Bcf a day.

17m 34s

Of course, there's been a lot of attention paid to tariff. At this point, we do not believe that the tariffs will have a significant impact on project economics. For our new large project, Mississippi Crossing South System Expansion four, Trident, GCX, and Bridge, that together comprise approximately two thirds of our backlog we currently estimate the impact of tariffs to be roughly one of project cost. We work to mitigate the potential impact by preordering certain equipment negotiating caps on tariff impacts, and securing domestic steel and mill capacity. For these projects, we've locked in the cost of the finished steel pipe and less than 10% is exposed to tariffs. In addition, to the extent we get some permitting relief, there may be the opportunity to bring these projects or portions of the project in service earlier than planned helping to offset any impact to tariffs. From an operations perspective, we're still in the process of evaluating the impact of tariffs, We don't expect it to be material to 2025. But the uncertainty of tariffs along with commodity prices did cause us to be a little bit more conservative in communicating our outlook for the year at this point.

18m 54s

During the quarter, we closed on the previously announced $640,000,000 acquisition of the Bakken gathering and processing system, which nicely complements our existing assets in that basement. When you look at the results for the quarter, there isn't much impact from this acquisition given that we only owned it for forty five days all the transaction costs were expensed in the quarter. But it is performing in line with our expectations. Despite the volatility in the market, we have a very resilient business. Almost two thirds of the EBITDA is generated from take or pay contracts. Roughly 30% is fee based or hedged with only 5% of our EBITDA exposed to commodity prices.

19m 37s

We expect to continue to generate nice cash flow and fund our attractive backlog of projects which are substantially backed by long term contracts from creditworthy entities while maintaining a strong balance sheet. Finally, on management succession, Paul Martin has announced his intention to retire in January 2026 at which time he will assume an advisory role to the Board of Directors and to the Office of the chairman. In that role, he will continue to help the company on our tremendous backlog of natural gas projects. At that time, Dax Sanders, who many of you already know, will succeed Tom as president. Dax is currently President of the Products business segment, and has a thorough understanding of the company, having been here for approximately twenty three years and served in a variety of different roles. Tom and Dax will start the transition process in August at which time Mike Garthwaite will become President of Products Pipeline. This is the plan we contemplated and prepared for in our succession planning. And with that, I'll turn it over to Tom to give you more details on the business performance for the quarter.

20m 45s

Thanks, Kim. Starting with the natural gas business unit,

Key Insights

Kinder Morgan remains bullish on long-term natural gas demand, projecting U.S. demand growth of 20-28 Bcf/day by 2030, primarily driven by increased LNG export demand, with most new capacity already under construction or backed by long-term contracts.
The company reported a strong quarter, with financial results in line with expectations and natural gas performance versus budget described as "very strong." Record U.S. natural gas demand was noted in Q1, with a 10% increase in residential/commercial demand and a 15% increase in LNG demand.
Kinder Morgan added approximately $900 million to its project backlog during the quarter, bringing the total to $8.8 billion. Over 70% of new projects are focused on serving power demand, including a $430 million Elba Express pipeline extension supported by a 30-year contract.
Management does not expect recently announced tariffs to have a significant impact on project economics or 2025 results, estimating tariff impact at roughly 1% of project cost for major projects and noting that less than 10% of steel pipe costs are exposed to tariffs.
The company closed a $640 million acquisition of the Bakken gathering and processing system, which is performing in line with expectations. Kinder Morgan continues to generate strong cash flow, with nearly two-thirds of EBITDA from take-or-pay contracts and only 5% exposed to commodity prices. Management succession plans were also announced, with Dax Sanders set to become president in January 2026.

Recent Transcripts

Kinder Morgan expects robust natural gas demand growth, driven by LNG exports and power sector.

Kinder Morgan reported strong 2024 results, record expansion backlog, and positive growth outlook.

Income Statement

Revenue

	2020	2021	2022	2023	2024
Revenue	$12B	$17B	$19B	$15B	$15B
Cost of Revenue	$4.7B	$8.6B	$11B	$7.7B	$6.7B
Gross Profit	$7B	$8B	$7.8B	$7.6B	$8.4B
Gross Profit %	60%	48%	40%	49%	56%
R&D Expenses	$0	$0	$0	$0	$0

2020

2021

2022

2023

2024

Revenue

$12B

$17B

$19B

$15B

Cost of Revenue

$4.7B

$8.6B

$11B

$7.7B

$6.7B

Gross Profit

$7B

$8B

$7.8B

$7.6B

$8.4B

Gross Profit %

60%

48%

40%

49%

56%

R&D Expenses

Cash Flow

Net Income

	2020	2021	2022	2023	2024
Net Income	$180M	$1.9B	$2.6B	$2.5B	$2.7B
Dep. & Amort.	$2.2B	$2.1B	$2.3B	$2.3B	$2.4B
Def. Tax	$345M	$355M	$692M	$710M	$647M
Stock Comp.	$73M	$59M	$60M	$63M	$0
Chg. in WC	-$123M	-$58M	-$258M	$1.2B	-$73M

2020

2021

2022

2023

2024

Net Income

$180M

$1.9B

$2.6B

$2.5B

$2.7B

Dep. & Amort.

$2.2B

$2.1B

$2.3B

$2.4B

Def. Tax

$345M

$355M

$692M

$710M

$647M

Stock Comp.

$73M

$59M

$60M

$63M

Chg. in WC

-$123M

-$58M

-$258M

$1.2B

-$73M

Balance Sheet

Cash

	2020	2021	2022	2023	2024
Cash	$1.2B	$1.1B	$745M	$83M	$88M
ST Investments	$119M	$113M	$1M	$0	$0
Cash & ST Inv.	$1.2B	$1.1B	$745M	$83M	$88M
Receivables	$1.3B	$1.6B	$1.8B	$1.6B	$1.5B
Inventory	$348M	$562M	$634M	$525M	$555M

2020

2021

2022

2023

2024

Cash

$1.2B

$1.1B

$745M

$83M

$88M

ST Investments

$119M

$113M

$1M

Cash & ST Inv.

$1.2B

$1.1B

$745M

$83M

$88M

Receivables

$1.3B

$1.6B

$1.8B

$1.6B

$1.5B

Inventory

$348M

$562M

$634M

$525M

$555M

Go Deeper

Financial information provided by Financial Modeling Prep. Options data provided by Unusual Whales. Live transcripts provided by Quartr. Reported revenue and EPS data from Earnings powered by FinChat.io. All data is provided for informational purposes only, and is not intended for trading purposes or financial, investment, tax, legal, accounting or other advice. · See all tickers.

Overview
Latest News
Earnings
Income Statement
Cash Flow
Balance Sheet
Related

Earnings

Report Date

Apr 16, 2025

Reported Revenue

4.2B

Beat +0.04%

Avg 1d Change

1.13%

Report Period

Q1 2025

Reported EPS

0.34

Miss -3.85%

Implied Move 1d

3.16%

Transcript

11m

11m 57s

12m 15s

13m 41s

14m 38s

15m 41s

In truth, that growth is supported, we believe, by an array of factors that reflect the strength of natural gas as an important source of energy for years to come.

15m 51s

And with that, I'll turn it over to Kim.

15m 53s

Okay. Thanks, Rich. We had a good quarter.

15m 56s

17m 34s

18m 54s

19m 37s

20m 45s

Thanks, Kim. Starting with the natural gas business unit,

Key Insights

Kinder Morgan remains bullish on long-term natural gas demand, projecting U.S. demand growth of 20-28 Bcf/day by 2030, primarily driven by increased LNG export demand, with most new capacity already under construction or backed by long-term contracts.
The company reported a strong quarter, with financial results in line with expectations and natural gas performance versus budget described as "very strong." Record U.S. natural gas demand was noted in Q1, with a 10% increase in residential/commercial demand and a 15% increase in LNG demand.
Kinder Morgan added approximately $900 million to its project backlog during the quarter, bringing the total to $8.8 billion. Over 70% of new projects are focused on serving power demand, including a $430 million Elba Express pipeline extension supported by a 30-year contract.
Management does not expect recently announced tariffs to have a significant impact on project economics or 2025 results, estimating tariff impact at roughly 1% of project cost for major projects and noting that less than 10% of steel pipe costs are exposed to tariffs.
The company closed a $640 million acquisition of the Bakken gathering and processing system, which is performing in line with expectations. Kinder Morgan continues to generate strong cash flow, with nearly two-thirds of EBITDA from take-or-pay contracts and only 5% exposed to commodity prices. Management succession plans were also announced, with Dax Sanders set to become president in January 2026.

Kinder Morgan, Inc. Price & Performance (KMI)

Stock Performance

Open

Market Cap

Year High

High

P/E Ratio

Year Low

Low

Dividend Yield

Volume

Latest News

What's Happening

Peers

Earnings

Report Date

Reported Revenue

Avg 1d Change

Report Period

Reported EPS

Implied Move 1d

Transcript

Key Insights

Recent Transcripts

Income Statement

Cash Flow

Balance Sheet

Go Deeper

Related

Go Deeper

Latest News

Recent Transcripts

Earnings

Report Date

Reported Revenue

Avg 1d Change

Report Period

Reported EPS

Implied Move 1d

Transcript

Key Insights