Kinder Morgan, Inc. (KMI) is listed on NYSE and operates in the Oil & Gas Midstream industry (Energy sector).
Kinder Morgan, Inc. operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas liquefaction and storage facilities. The Products Pipelines segment owns and operates refined petroleum products, and crude oil and condensate pipelines; and associated product terminals and petroleum pipeline transmix facilities. The Terminals segment owns and/or operates liquids and bulk terminals that stores and handles various commodities, including gasoline, diesel fuel, chemicals, ethanol, metals, and petroleum coke; and owns tankers. The CO2 segment produces, transports, and markets CO2 to recovery and production crude oil from mature oil fields; owns interests in/or operates oil fields and gasoline processing plants; and operates a crude oil pipeline system in West Texas, as well as owns and operates RNG and LNG facilities. It owns and operates approximately 83,000 miles of pipelines and 143 terminals. The company was formerly known as Kinder Morgan Holdco LLC and changed its name to Kinder Morgan, Inc. in February 2011. Kinder Morgan, Inc. was founded in 1936 and is hea...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 16 |
| Hold | 17 |
| Sell | 1 |
| Strong Sell | 0 |
Kinder Morgan, Inc. is a North American energy infrastructure company headquartered in Houston, Texas. It operates through four main segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment manages interstate and intrastate natural gas pipelines, underground storage, gathering systems, processing and treating facilities, as well as natural gas liquids fractionation and transportation systems. It also includes liquefied natural gas (LNG) liquefaction and storage facilities. The Products Pipelines segment focuses on refined petroleum products, crude oil, and condensate pipelines, along with associated terminals and transmix facilities. The Terminals segment handles liquids and bulk commodities such as gasoline, diesel, chemicals, ethanol, metals, and petroleum coke, and includes tanker operations. The CO2 segment is involved in the production, transportation, and marketing of CO2 for enhanced oil recovery, and operates oil fields, gas processing plants, and a crude oil pipeline system in West Texas. Additionally, it manages renewable natural gas (RNG) and LNG facilities. Kinder Morgan owns and operates approximately 83,000 miles of pipelines and 143 terminals. Founded in 1936, the company was formerly known as Kinder Morgan Holdco LLC until 2011.
Over the past three fiscal years, the company has demonstrated a mixed performance across various financial metrics. Revenue exhibited an inconsistent trend, ultimately growing at a 5.8% CAGR from $15.16 billion in 2023 to $16.95 billion in 2025. Despite this revenue growth, operating margins showed inconsistency, expanding slightly by 1.7pp from 26.7% to 28.4%, indicating some degree of operating leverage. Net margins consistently increased by 2.3pp, reaching 18.0% in 2025, suggesting improved profitability. However, cash flow generation faced challenges, with operating cash flow declining from $6.49 billion to $6.25 billion and free cash flow decreasing from $4.15 billion to $3.22 billion, leading to a consistent decrease in FCF margin by 8.4pp to 19.0%. The company's cash conversion ratio also declined to 2.05, indicating a weakening in the quality of earnings backed by cash. On the capital efficiency front, asset turnover improved to 0.23, while the cash conversion cycle decreased to 2.7 days, reflecting better working capital management. Despite these improvements, liquidity remains a concern with a current ratio of 0.64, and interest coverage is thin at 2.8x, highlighting potential vulnerabilities in meeting short-term obligations.
Recent news for Kinder Morgan (KMI) is dominated by anticipation surrounding its upcoming Q1 earnings report. Scheduled for release soon, analysts are keenly awaiting key performance metrics and insights, as highlighted by multiple previews from Zacks Investment Research. In addition to earnings anticipation, Kinder Morgan has been spotlighted as a strong dividend stock, with its adjusted EBITDA showing significant growth from 2020 to 2025, according to The Motley Fool. On the trading front, there has been notable institutional activity. Mirae Asset Global Investments Co. Ltd. increased its stake in Kinder Morgan, while Baxter Bros Inc. purchased 21,840 shares, and Asset Advisors Investment Management LLC acquired 95,521 shares. These transactions reflect ongoing interest and confidence in the company's stock. Additionally, Kinder Morgan, in partnership with Phillips 66, is advancing a new fuel pipeline on the US West Coast, signaling strategic growth in infrastructure. These developments collectively underscore Kinder Morgan's robust market position and strategic initiatives amidst a dynamic energy sector landscape.