Kinder Morgan(US:KMI) ZACKSยท2025-08-07 15:05Core Insights - Kinder Morgan Inc. (KMI) has experienced a significant increase in its project backlog, rising from $8.8 billion to $9.3 billion in the June quarter of 2025, indicating strong demand for its services and potential for increased cash flows for shareholders [1][7] Project Developments - In the June quarter, KMI initiated $1.3 billion in new projects, including the Trident Phase 2 and Louisiana Line Texas Access projects, aimed at transporting natural gas from Texas to Louisiana, which is crucial for LNG exports [2][7] - Nearly half of KMI's project backlog is supported by increasing power demand, driven by the growth of data centers and population, highlighting the importance of natural gas transportation and storage [3][7] Industry Comparisons - Other companies in the midstream sector, such as Enterprise Products Partners LP (EPD) and Enbridge Inc. (ENB), also report strong backlogs, with EPD having $5.6 billion in projects and ENB securing a capital program of C$32 billion [4][5] Financial Performance - KMI's stock has appreciated by 34.3% over the past year, outperforming the industry average of 29.2% [6] - The company's current valuation shows a trailing 12-month enterprise value to EBITDA (EV/EBITDA) ratio of 13.77X, which is below the industry average of 13.95X [8] Earnings Estimates - The Zacks Consensus Estimate for KMI's 2025 earnings has been revised upward in the past 30 days, indicating positive sentiment among analysts [10]