Core Insights - Oneok Inc. reported revenue of $9.07 billion for the quarter ended December 2025, reflecting a year-over-year increase of 29.5% but a revenue surprise of -4.5% compared to the Zacks Consensus Estimate of $9.49 billion [1] - The company's EPS was $1.55, slightly down from $1.57 in the same quarter last year, with an EPS surprise of +4.73% against the consensus estimate of $1.48 [1] Financial Performance Metrics - Oneok's shares have returned +12% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3] Key Operational Metrics - Raw feed throughput for Natural Gas Liquids was reported at 1,586.00 MBBL/d, below the two-analyst average estimate of 1,650.68 MBBL/d [4] - Adjusted EBITDA for Natural Gas Liquids was $723 million, compared to the average estimate of $781.79 million [4] - Adjusted EBITDA for Refined Products & Crude was $567 million, below the average estimate of $608.12 million [4] - Adjusted EBITDA for Natural Gas Pipelines was $261 million, exceeding the average estimate of $224.21 million [4] - Adjusted EBITDA for Natural Gas Gathering and Processing was $541 million, slightly below the average estimate of $574.43 million [4]

A month has gone by since the last earnings report for Kinder Morgan (KMI) . Shares have added about 9.6% in that time frame, outperforming the S&P 500.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 drivers.Kinder Morgan Q4 Earnings Beat EstimatesKinder Morgan re ...

Core Insights - TC Energy Corporation (TRP) reported fourth-quarter 2025 adjusted earnings of 70 cents per share, exceeding the Zacks Consensus Estimate of 65 cents, driven by strong performance in its Canadian, U.S., and Mexico Natural Gas Pipelines segments, although down from 75 cents in the previous year due to weaker results in the Power and Energy Solutions segment [1][9] Financial Performance - Quarterly revenues reached $3 billion, surpassing the Zacks Consensus Estimate by $55 million, but decreased by 16.9% year over year [2] - Comparable EBITDA increased to C$3 billion from C$2.6 billion in the prior year [2] - The board declared a 3.2% quarterly dividend hike to 87.75 Canadian cents per common share, translating to an annualized rate of C$3.51 [2] Segment Performance - Canadian Natural Gas Pipelines reported a comparable EBITDA of C$961 million, up 12.9% year-over-year, with deliveries averaging 27.2 billion cubic feet per day (Bcf/d), a 5% increase [3] - U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1,388 million, a 15.7% increase, with daily average flows of 29.6 Bcf/d, marking a 9.5% increase [4] - Mexico Natural Gas Pipelines reported a comparable EBITDA of C$397 million, up 69.7% year-over-year, with flows averaging 2.7 Bcf/d [5] - Power and Energy Solutions segment reported a comparable EBITDA of C$217 million, down 36.4% from the previous year, impacted by an extended outage [6] Expenditure and Balance Sheet - As of December 31, 2025, capital investments amounted to C$5.3 billion, with cash and cash equivalents of C$168 million and long-term debt of C$45.2 billion, resulting in a debt-to-capitalization ratio of 60% [7] 2026 Guidance - The company anticipates 2026 EBITDA to be between C$11.6 billion and C$11.8 billion, with plans for net capital spending of up to C$6 billion [9][10] - Management expects to place approximately C$4 billion of projects into service during the year, contributing to growth [11] - The company aims to fully allocate its C$6 billion annual net capital expenditure target through 2030, with potential for increased investment later in the decade [12]

Core Insights - TC Energy Corporation (TRP) is scheduled to report its fourth-quarter earnings on February 13, with earnings estimated at 65 cents per share and revenues at $2.93 billion [1][7]. Group 1: Recent Performance - In the last reported quarter, TRP's adjusted earnings were 56 cents per share, aligning with consensus estimates, driven by strong performance in its Canadian, U.S., and Mexico Natural Gas Pipelines segments [2]. - TRP's quarterly revenues reached $3.7 billion, exceeding the Zacks Consensus Estimate by $49 million [2]. Group 2: Earnings Surprise History - TRP has beaten consensus estimates in two of the past four quarters, matched in one, and missed once, resulting in an average surprise of 2.49% [3]. - The Zacks Consensus Estimate for fourth-quarter 2025 earnings has experienced one upward and three downward revisions in the past 30 days, indicating a projected 13.33% year-over-year decrease in earnings, while revenues are expected to increase by 14.79% [3]. Group 3: Factors Influencing Q4 Performance - TRP generates income by operating a vast network of pipelines for natural gas and oil transportation, charging fees for these services, and also earns from natural gas storage and power generation [4]. - The company is expected to see improved revenues in the upcoming quarter, but rising expenses may negatively impact its bottom line, as total costs and expenses were higher in the previous quarter [5][7]. Group 4: Earnings Prediction Model - The current model does not predict an earnings beat for TRP this season, as the Earnings ESP is -0.23% and the company holds a Zacks Rank of 3 [6][8].

Energy Transfer LP (NYSE:ET) is one of the best cheap stocks to buy for 2026. On January 21, Goldman Sachs increased its price target for Energy Transfer LP (NYSE:ET) to $19.00 from $18.50 and kept a Neutral rating on the stock. The firm attributed the adjustment mainly to the upcoming USAC/J-W Power acquisition in the first quarter of 2026. The other key factor is minor tweaks to assumptions about re-contracting in natural gas liquids (NGLs) and crude oil segments, which led to a roughly 1% rise in longer ...

Core Viewpoint - Enbridge, a Canadian midstream energy company, offers a high dividend yield of 5.7%, making it an attractive option for both dividend and growth investors [1]. Group 1: Company Overview - Enbridge operates in four main business segments: oil pipelines, natural gas pipelines, regulated natural gas utilities, and renewable power, all of which generate reliable cash flows through long-term contracts or regulated operations [2]. - The company has a consistent track record, highlighted by a 30-year streak of annual dividend increases in Canadian dollars [3]. Group 2: Dividend Growth and Returns - Enbridge aims to grow its dividend in line with its distributable cash flow, which is projected to increase by 3% in 2026 and up to 5% thereafter [3]. - Combining a 5% dividend growth with the current yield of approximately 5% results in a total return of around 10%, comparable to the historical returns expected from the S&P 500 index [4]. - The reinvestment of dividends can significantly enhance total returns for growth investors, especially during market downturns [6][7]. Group 3: Investment Strategy - Enbridge's high dividend yield can serve as a financial anchor during bear markets, providing stability for dividend investors and allowing growth investors to reinvest dividends without emotional decision-making [8].

Core Insights - Kinder Morgan Inc. (KMI) reported fourth-quarter 2025 adjusted earnings per share (EPS) of 39 cents, exceeding the Zacks Consensus Estimate of 37 cents, and an increase from 32 cents year over year [1] - Total quarterly revenues reached $4.5 billion, surpassing the Zacks Consensus Estimate of $4.4 billion, and up from $4 billion in the prior-year quarter [1] Segmental Analysis - **Natural Gas Pipelines**: Adjusted earnings before depreciation, depletion, and amortization (EBDA) rose to $1.63 billion from $1.43 billion year over year, driven by higher contributions from the Texas Intrastate system, KinderHawk, and Outrigger Energy assets, with increased natural gas transport and gathering volumes [3] - **Product Pipelines**: EBDA for the segment was $307 million, up from $299 million a year ago, attributed to higher transport rates [4] - **Terminals**: Generated quarterly EBDA of $294 million, an increase from $282 million year over year, with liquids utilization at 92.9%, down from 95.2% in the prior-year quarter, supported by increased rates and ancillary fees at the Houston Ship Channel hub [5] - **CO2**: EBDA decreased to $145 million from $161 million in the year-ago quarter [5] Operational Highlights - Total expenses related to operations and maintenance were $787 million, up from $761 million year over year, while total operating costs increased to $3.14 billion from $2.88 billion [6] - KMI reported a project backlog of $10 billion at the end of the fourth quarter, with natural gas projects comprising approximately 90% of this backlog [6] Balance Sheet - As of December 31, 2025, KMI had $63 million in cash and cash equivalents, with long-term debt amounting to $30.6 billion [7] Outlook - For the current year, KMI projected net income attributable to the company at $3.1 billion and estimated adjusted EPS at $1.36 per share, with a budgeted Adjusted EBITDA for 2026 of $8.6 billion [8] - The company anticipates ending 2026 with a net debt-to-adjusted EBITDA ratio of 3.8x [8]

Core Viewpoint - Energy Transfer LP (NYSE:ET) is suspending the development of its Lake Charles LNG export facility due to concerns over a potential LNG supply glut, shifting focus to its more profitable natural gas pipeline operations [3][4]. Group 1: Company Developments - Energy Transfer LP is one of the largest and most diversified midstream energy companies in North America, with a strategic presence across all major US production basins [2]. - The company announced on December 18 that it is halting the development of the Lake Charles LNG facility in Louisiana [3]. - The decision to suspend LNG development is influenced by the company's view of itself as a pipeline operator, especially as LNG margins are being pressured by lower prices [4]. Group 2: Strategic Focus - Energy Transfer plans to increase the transportation capacity of its planned Transwestern pipeline expansion to accommodate significant regional growth demand, raising the pipeline diameter from 42 to 48 inches, which will increase capacity to as much as 2.3 billion cubic feet per day [4]. - The project cost for the Transwestern pipeline expansion has risen from $5.3 billion to $5.6 billion due to the increased capacity [4]. Group 3: Market Context - The company continues to benefit from rising energy demand, particularly amid the ongoing AI boom, and has secured several agreements with hyperscalers to supply natural gas to their data centers [5].

Industry Overview - US natural gas futures surged by approximately 10% in 2025 due to high energy demand from data centers and record LNG exports, but prices have since fallen over 34% due to forecasts of warmer temperatures leading to lower heating demand [1] - The US Energy Information Administration projected domestic gas consumption to rise from a record 90.4 billion cubic feet per day (bcfd) in 2024 to 91.8 bcfd in 2025, driven by the booming LNG sector [2] - The United States shipped 111 million metric tons of liquefied natural gas (LNG) in 2025, making it the world's largest LNG exporter [2] Company Insights - Energy Transfer LP (NYSE:ET) is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint across all major US production basins [7] - Energy Transfer LP announced the suspension of its Lake Charles LNG export facility development to focus on natural gas pipelines, which are seen as more lucrative [8] - The company plans to increase the transportation capacity of its Transwestern pipeline expansion to meet regional growth demand, raising the pipeline diameter from 42 to 48 inches, increasing capacity to 2.3 billion cubic feet per day (cf/day) [9] - Energy Transfer LP has also secured agreements with hyperscalers to supply natural gas to their data centers amid rising energy demand [10] Investment Opportunities - Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company with operations in Canada and the Asia Pacific, and it has an upside potential of 26.67% as of January 5 [11] - Goldman Sachs analyst reinstated coverage of Cenovus with a 'Buy' rating and a price target of $20, indicating a 20% upside from the current share price [12] - Cenovus's acquisition of MEG Energy has added 110,000 barrels per day (bpd) of long-life, low-cost assets, expected to generate strong free cash flow and contribute to a 4% year-over-year growth in production [12] - The sale of a 50% interest in the Wood River and Borger refineries to Phillips 66 has improved Cenovus's fundamentals and simplified its downstream business [13] - Cenovus Energy Inc. offers an annual dividend yield of 3.49%, making it a candidate for portfolio diversification [14]

Core Insights - Kinder Morgan Inc. (KMI) reported third-quarter 2025 adjusted earnings per share of 29 cents, meeting the Zacks Consensus Estimate and increasing from 25 cents year over year [1][9] - Total quarterly revenues reached $4.15 billion, surpassing the Zacks Consensus Estimate of $4.13 billion and up from $3.70 billion in the prior-year quarter [1][9] Business Performance - The in-line earnings and better-than-expected revenue were primarily driven by activities related to natural gas pipelines [2] - Natural Gas Pipelines segment saw adjusted earnings before depreciation, depletion, and amortization (EBDA) rise to $1.4 billion from $1.27 billion year over year, benefiting from higher transported and gathering volumes [3] - Product Pipelines segment's EBDA increased to $288 million from $276 million, attributed to higher diesel fuel volumes [4] - Terminals segment generated EBDA of $274 million, up from $267 million, with liquids utilization at 94.6% [4] - CO2 segment's EBDA decreased to $136 million from $160 million year over year [5] Operational Highlights - Total expenses related to operations and maintenance were $786 million, down from $790 million a year ago, while total operating costs increased to $3.08 billion from $2.68 billion [6] - KMI reported a project backlog of $9.3 billion at the end of the September quarter, with a significant portion related to natural gas projects [6] Financial Position - As of September 30, 2025, KMI had $71 million in cash and cash equivalents, with long-term debt amounting to $31.3 billion [7] Future Outlook - For the year, KMI projected net income attributable to the company at $2.8 billion and estimated adjusted EPS at $1.27, with a net debt-to-adjusted EBITDA ratio anticipated at 3.8x by the end of 2025 [8]