21 November 2025 | 1:18PM EST Equity Research Energy, Utilities & Mining Pulse: Investors Asking: How to Express Power Demand Through Favorable Valuation Risk/Reward? The most generalist focused themes we continue to write on as a Natural Resources analyst team are electricity demand, AI/power needs and how they flow through to the equities. We continue to be bullish on the themes through Utilities, Nuclear, Gas and Specialty Contractors. That said, we believe investors look for favorable opportunities thro ...

A month has gone by since the last earnings report for Kinder Morgan (KMI) . Shares have added about 1.8% in that time frame, outperforming the S&P 500.But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Kinder Morgan due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.Kinder Morgan Q3 E ...

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Core Insights - The oil and energy market is highly volatile, but risk-averse investors should consider midstream players due to their lower vulnerability to commodity price fluctuations [1][2][7] Midstream Players' Stability - Midstream companies have extensive networks for oil and gas transportation and storage, allowing them to mitigate price and volume risks through long-term contracts [2][7] - Many midstream companies possess significant project backlogs, ensuring stable cash flows and reducing exposure to oil and gas price volatility [3][7] Key Stocks to Watch - Williams (WMB) operates a 33,000-mile pipeline network, generating stable cash flows and positioned to benefit from clean energy demand, currently holding a Zacks Rank 3 [4] - Kinder Morgan (KMI) transports 40% of the natural gas produced in the U.S. and has a project backlog of $9.3 billion, with a Zacks Rank of 1 [5] - Enterprise Products (EPD) has over 50,000 miles of pipeline and a liquid storage capacity of more than 300,000 barrels, generating stable fees and holding a Zacks Rank 3 [6]

Core Insights - Kinder Morgan is experiencing a growth phase despite a recent decline in share price, presenting a potential buying opportunity for long-term investors [1][8] Financial Performance - Kinder Morgan reported a 16% increase in earnings per share for the third quarter, driven by rising gas demand and a recent acquisition from Outrigger Energy, leading to expectations of exceeding financial targets for the year [2] - The company has a market capitalization of $59 billion and a current share price of $26.55, with a dividend yield of 4.5%, significantly higher than the S&P 500's yield of 1.1% [5][6] Growth Projects - Kinder Morgan added $500 million in new growth capital projects during the third quarter, resulting in a backlog of $9.3 billion, up from $3 billion at the end of 2023, with projects expected to enter commercial service by the second quarter of 2030 [3] - The company is pursuing over $10 billion in potential projects, primarily focused on expanding natural gas infrastructure, driven by demand from power generation and LNG export capacity [5] Future Outlook - Significant earnings growth acceleration is anticipated between 2027 and 2029 as three large-scale gas pipeline projects are expected to be completed [7] - The combination of income from dividends and growth from expansion projects positions Kinder Morgan for robust total returns in the coming years, especially given its current lower valuation [8]

Core Insights - Beneficial owners have recently capitalized on opportunities presented by MapLight Therapeutics Inc [1] Group 1 - The recent activities indicate a strategic move by beneficial owners to leverage the current market conditions surrounding MapLight Therapeutics Inc [1]

Core Viewpoint - Kinder Morgan is a significant player in the energy infrastructure sector, boasting a 4.4% dividend yield that has been consistently increased for eight years, making it worthy of investor attention [2][4]. Company Overview - Kinder Morgan operates 79,000 miles of pipeline and 139 terminals, positioning it as one of the largest energy infrastructure companies in the U.S. [2]. - The company has a market capitalization of $58 billion, ranking it sixth in the energy sector [3]. Stock Performance - Year-to-date, Kinder Morgan's stock has declined by 1.3%, underperforming both the energy sector, which has increased by 5.4%, and the S&P 500 index, which has risen by 17.5% [3]. - The forward price-to-earnings ratio stands at 19, the fifth-highest in the energy sector, indicating that the stock is steady but not particularly cheap [5]. Dividend Analysis - The 4.4% dividend yield is competitive compared to the energy sector and S&P 500, but it is only slightly above the 10-year Treasury note yield of 4.11% and about 0.5% lower than investment-grade corporate debt [4]. - Kinder Morgan has a high dividend payout ratio of 95%, suggesting limited room for error in maintaining the dividend [4]. Analyst Ratings - Among analysts, 12 out of 21 rate Kinder Morgan as a buy, while 9 have it as a hold, with no sell ratings. The average 12-month price target is $31, indicating an 18% upside potential [5]. Investment Considerations - Despite the attractive dividend yield, the stock's growth potential is questioned, and it is not currently listed among the top 10 stock recommendations by The Motley Fool Stock Advisor [7][8].

Core Insights - Crude Value Insights provides an investment service and community focused on the oil and natural gas sector, emphasizing cash flow and the companies that generate it, which leads to value and growth prospects with real potential [1] - Subscribers have access to a model account with over 50 stocks, in-depth cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [1] Subscription Offer - A two-week free trial is available for new subscribers, allowing them to explore the oil and gas investment opportunities [2]

Group 1 - Crude Value Insights provides an investment service and community focused on the oil and natural gas sectors, emphasizing cash flow and companies that generate it [1] - The service offers subscribers access to a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [1] Group 2 - A two-week free trial is available for new subscribers, promoting engagement with oil and gas investment opportunities [2]

Company Overview - Kinder Morgan, Inc. (KMI) has a market cap of $58 billion and is one of North America's largest energy infrastructure companies, focusing on the transportation, storage, and handling of various energy commodities [1] - The company operates an extensive network of pipeline systems and storage terminals, essential for power generation, heating, industrial use, and transportation [1] Stock Performance - Over the past 52 weeks, KMI stock has increased by 5.2%, underperforming the S&P 500 Index, which returned 18.1% [2] - In 2025, KMI stock dipped 5.5%, while the S&P 500 gained 17.2% on a year-to-date basis [2] - KMI has outperformed the USCF Midstream Energy Income Fund, which saw a 3.1% increase over the past year [3] Recent Earnings and Financials - Kinder Morgan's Q3 2025 earnings report showed a revenue increase of 12.1% year over year to $4.1 billion, with adjusted EPS rising 16% to $0.29 [4] - Adjusted EBITDA climbed 6% to $1.99 billion, driven by higher natural gas transport volumes [4] - The company raised its quarterly dividend to $0.2925 per share, a 2% increase from Q3 2024, and ended the quarter with a $9.3 billion project backlog [4] Future Projections - Analysts expect steady growth for Kinder Morgan in fiscal 2025, with adjusted EPS projected at $1.28, reflecting an 11.3% year-over-year increase [5] - The company's earnings track record has been mixed, matching Street expectations in two of the past four quarters and falling short in the other two [5] Analyst Ratings - KMI stock has a consensus rating of "Moderate Buy," with 21 analysts covering the stock, including ten "Strong Buys," one "Moderate Buy," and ten "Holds" [5] - The current analyst configuration is more bullish compared to two months ago, when only nine analysts gave "Strong Buy" recommendations [6]