Kinder Morgan, Inc. (KMI) AI Stock Analysis

Kinder Morgan, Inc. functions as a prominent energy infrastructure provider across North America, operating an extensive network spanning approximately 83,000 miles of pipelines and 140 terminals. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. Natural Gas Pipelines oversees interstate and intrastate networks, underground storage facilities, gathering systems, and liquefied natural gas processing plants. The Products Pipelines segment handles refined petroleum, crude oil, and condensate. Terminals manages liquid and bulk storage for fuels, chemicals, and renewable fuels along with distribution tankers. Founded in 1936 and based in Houston, Texas, the company employs 11,028 people.

Kinder Morgan expanded annual revenue from $16.61B in FY2021 to $19.20B in FY2022, before dropping to $15.33B in FY2023 and $15.07B in FY2024. In FY2025, revenue rebounded 12.5% to $16.95B, delivering a 5-year revenue CAGR of 7.7% from FY2020. Annual net income grew to $3.06B in FY2025 with an operating margin of 28.4% and net margin of 18.0%, up from $1.85B in FY2021. For the trailing twelve months, revenue reached $17.96B with an operating margin of 30.1% and diluted EPS of $1.55. In the latest quarter ended June 30, 2026, quarterly revenue grew 10.8% year-over-year while quarterly earnings expanded 21.2%.

As of June 30, 2026, Kinder Morgan held $89.0M in cash and short-term investments against total debt of $32.25B, resulting in net debt of $32.16B and a debt-to-equity ratio of 1.02. Total assets stood at $74.06B while shareholders' equity reached $31.63B, with a current ratio of 0.51. In FY2025, the business generated $5.92B in operating cash flow and $2.89B in free cash flow. Capital allocation in FY2025 included $3.03B for capital expenditures and $2.60B in dividends paid, while the 5-year share count decreased 1.9%.

Trading at a market capitalization of $76.16B and an enterprise value of $101.90B, KMI trades at a trailing P/E of 22.1x and a forward P/E of 20.0x, above the median of its S&P 500 Energy peers at 17.8x and 13.4x, respectively. Its enterprise value-to-EBITDA multiple of 13.2x and price-to-sales of 4.2x also exceed the peer medians of 7.9x and 2.1x. Over the past year, KMI returned 30.7%, outperforming the S&P 500 (SPY) return of 16.8%. Over five years, KMI delivered a 142.7% return compared to 83.0% for the S&P 500.

Kinder Morgan pays a forward annual dividend of $1.18 per share, which equates to a dividend yield of 3.45% as of October 16, 2026. The company maintains a payout ratio of 77.1% and has paid dividends for 16 consecutive years. Over the past 5 years, the annualized dividend growth rate was 2.3%, with the last ex-dividend date occurring on August 3, 2026.

Among Wall Street analysts, 10 rate the stock a Strong Buy, 2 designate it a Buy, and 13 assign a Hold, with zero Sell or Strong Sell ratings. The mean price target of $36.09 represents 5.5% upside from the last close of $34.20. For the current fiscal year ending December 31, 2026, analysts estimate EPS of $1.56 on revenue of $18.34B. Over the last four quarters, KMI topped EPS expectations in 3 quarters. The next earnings release is scheduled for October 21, 2026.

This page is an AI-written research summary of Kinder Morgan, Inc. (KMI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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