FINWIRES · TerminalLIVE
FINWIRES

$KMI

14 stories mentioning KMI

Every FINWIRES story that references KMI, newest first.

Wire

Kinder Morgan's Q2 Likely to be Supported by Business Tailwinds, Monument Deal, UBS Says

Kinder Morgan's (KMI) Q2 results are likely to benefit from tailwinds across its businesses and the closing of the Monument Pipeline acquisition, helping EBITDA exceed Wall Street expectations and company guidance, UBS Securities said.The investment firm said in a Friday research report that it expects Q2 EBITDA of about $2.09 billion, above Wall Street expectations of $2.07 billion and the company's prior guidance of $2.01 billion.The Monument Pipeline acquisition, which closed in May, is expected to contribute about $9 million to Q2 EBITDA and roughly $13 million on a full-quarter basis, according to the note.UBS said investors are likely to focus on updates related to data center opportunities, growth projects and the Monument Pipeline integration during the earnings call. It noted management has been working with hyperscalers on gas-for-power solutions but does not intend to enter the power-generation business.The firm has a buy rating on the company's stock with a price target of $43 per share.Shares of Kinder Morgan were down 1.6% in Monday trading.Price: $31.41, Change: $-0.53, Percent Change: -1.66%

$KMI
Wire

RBC Highlights Preferred Midstream Names as Earnings Season Approaches

BP's midstream benchmark fell 1.6% over the week ended June 11, but still delivered a 16.4% gain so far this year, outperforming the S&P 500's 8.0% advance, RBC Capital Markets said Friday.The sector also outperformed utilities by 1,314 basis points and real estate investment trusts by 160 basis points this year, although it lagged oilfield services by 3,319 basis points and exploration and production companies by 1,306 basis points, RBC said.Commodity prices weakened during the week, with front-month West Texas Intermediate crude dropping about 6% to roughly $88 per barrel and Henry Hub natural gas falling about 7.5% to $3.09 per million British thermal units, according to RBC.Archrock (AROC) led performance among RBC-covered companies with a 3.7% gain, supported by continued strength in the compression market, while Sunoco (SUN) fell 4.4% as investors likely locked in profits, the firm said.C-corporations gained 0.1%, outperforming master limited partnerships, which declined 1.6%.RBC estimates its coverage universe trades at an average 2027 enterprise value-to-adjusted EBITDA multiple of 10.0x and expects midstream stocks to remain sensitive to Iran-related developments that influence commodity prices.The firm said companies with greater perceived commodity exposure, including Targa Resources (TRGP), ONEOK (OKE), and Kinetik Holdings (KNTK), as well as liquefied natural gas-focused names such as Venture Global (VG) and Cheniere Energy (LNG), could react most sharply to geopolitical headlines.Kinder Morgan will kick off the second-quarter earnings season for RBC's coverage universe on July 22. RBC expects management to discuss geopolitical and macroeconomic conditions, stronger export activity, commodity-price support, and growth opportunities across its project pipeline.Among its preferred investments, RBC highlighted Cheniere Energy, citing 95% contracted cash flows through 2035, a $10 billion share repurchase program, and a target to increase dividends by 10% annually through 2030.RBC said Sunoco can build on operational momentum through 2027, benefiting from stronger refining margins at Burnaby, synergies from the Parkland acquisition, and an additional $500 million bolt-on acquisition strategy.The firm also favors Targa Resources, citing customer-backed expansion projects, exposure to leading Permian Basin acreage, and rising gas-to-oil ratios that could support natural gas growth even if crude production levels off.For Williams Companies (WMB), RBC sees growing electricity demand and natural gas consumption creating opportunities for high-return projects tied to Transco expansions and power-related infrastructure through 2030 and beyond.Williams is targeting adjusted EBITDA compound annual growth of more than 10% through 2030, including roughly 9% growth from Haynesville-related projects, while maintaining a balance sheet capable of supporting further expansion, RBC said.Price: $36.67, Change: $+0.59, Percent Change: +1.65%

$AROC$KMI$KNTK$LNG$OKE$SUN$TRGP$VG$WMB
Wire

Kinder Morgan Poised to Benefit From Growing Gas, Power Demand, RBC Says

Kinder Morgan (KMI) is "well-positioned" to benefit from rising natural gas and power demand, supportive commodity prices and its growing project backlog, RBC Capital Markets said in a report emailed Friday.The company has a greater likelihood of exceeding expectations than missing them amid increased export activity and commodity price tailwinds, said the firm, which expects the company to report Q2 earnings on July 22.The firm raised its 2026 earnings before depreciation and amortization estimate for the CO2 segment following higher oil prices and the impact of the Monument acquisition.Kinder Morgan's project pipeline also continues to advance, with the GCX expansion expected to enter service in June and the SSE4 expansion and MSX Pipeline on track to receive federal permits by the end of July, the firm said. Discussions on the Western Gateway project are ongoing, while more projects could be added to the company's backlog, according to the report.RBC maintained the company's sector perform rating and $35 price target.Price: $32.09, Change: $+0.73, Percent Change: +2.33%

$KMI
Kinder Morgan Poised To Benefit From Rising Natural Gas, Power Demand, RBC Says
US Markets

Kinder Morgan Poised To Benefit From Rising Natural Gas, Power Demand, RBC Says

Kinder Morgan (KMI) is favorably positioned to benefit from rising demand for natural gas and power, RBC Capital Markets said in a note, adding that the company is likely to beat Wall Street expectations for the fiscal second quarter.RBC increased its adjusted earnings before interest, taxes, depreciation, and amortization forecast for the second quarter to $2.05 billion from $2.01 billion amid higher-than-expected oil prices, benefits from the company's carbon dioxide business, and the inclusion of the Monument acquisition. The FactSet-polled consensus is at $2.06 billion.In April, Kinder Morgan said it agreed to acquire Monument Pipeline, a natural gas pipeline system serving Houston and the surrounding metropolitan area, for $505 million in cash.RBC also highlighted Kinder Morgan's growing backlog and said the company remains confident in its ability to sanction a material portion of its shadow backlog this year. Kinder Morgan's project backlog in the first quarter rose by $145 million sequentially to $10.1 billion, it said in April."Heading into earnings, we see more potential to beat expectations vs miss especially given the macrobackdrop (increased exports across the docks, commodity price tailwinds)," RBC analyst Elvira Scotto wrote in the note emailed Friday.The energy infrastructure company is expected to report second-quarter results next month.RBC said the Gulf Coast Express pipeline expansion is expected to come online in June, while the South System Expansion 4 and the Mississippi Crossing pipeline are on track to receive approval from the Federal Energy Regulatory Commission by the end of July, after which construction is expected to begin.The brokerage maintained its Sector Perform rating on the stock, with a price target of $35.

$KMI
Commodities

US Gas Market Seen Tightening into 2027, Potential Oversupply in 2028, TPH Says

US natural gas markets are projected to remain a key focus for investors assessing tightening near-term fundamentals before a shift toward oversupply later in the decade, according to TPH Energy Research in a Tuesday note.Matt Portillo, analyst at TPH, said that end-of-summer 2027 gas balances will reach 4.1 trillion cubic feet, with investors increasingly focused on when to position for longer-dated holdings beyond 2028.TPH said the outlook reflects a market still supported by regional constraints and rising demand before new supply and infrastructure changes alter the trajectory.Regional pricing dynamics remain in focus, including Permian-driven growth, Waha basis spreads in 2027, and medium-term balance trends at Agua Dulce. Portillo also noted emerging structural concerns at Gillis beyond 2028 as demand-supply imbalances deepen.TPH said global gas markets could tip into oversupply by 2028, with implications for global pricing trends over the next decade. The bank sees European benchmark TTF prices potentially easing toward $6-7 per million British thermal units over time.Simultaneously, Gulf Coast supply constraints are expected to support Henry Hub prices, potentially narrowing the arbitrage between US and global gas markets by 2029.On the upstream side, investor interest centered on Antero Resources (AR), EQT Corporation (EQT), Expand Energy (EXE), Range Resources (RRC), BKV Corporation (BKV) and Comstock Resources (CRK).Midstream companies, including DT Midstream (DTM), TC Energy, Williams Companies (WMB, Energy Transfer (ET), Kinder Morgan (KMI), Cheniere Energy (LNG), and Venture Global (VG), were also widely discussed.TPH said this underscores expectations that LNG export growth and pipeline bottlenecks will remain central to market direction over the next several years.Price: $34.72, Change: $-0.80, Percent Change: -2.25%

$AR$BKV$CRK$DTM$EQT$ET$EXE$KMI$LNG$RRC$VG$WMB
Oil & Energy

Crude, NGL Firms See Firmer Q2 Outlook on Exports, Pricing Tailwinds, TPH Says

Midstream energy companies focusing on natural gas liquids and crude logistics are heading into Q2 on a constructive note, buoyed by robust volume growth, elevated commodity prices, and soaring exports, TPH Energy Research strategists said in a note on Wednesday.TPH Energy Research strategists said the observations were based on industry interactions at the Energy Infrastructure Council conference.AJ O'Donnell, analyst at TPH Energy, said a key driver for the optimistic outlook is the strengthening of liquefied petroleum gas and NGL export fundamentals.O'Donnell said midstream executives said rising engagement with global buyers, especially from Asia, who are increasingly prioritizing supply diversity and security.The soaring demand comes as the market grapples with the impact of prolonged shipping disruptions in the Strait of Hormuz, a critical global energy chokepoint. The urgent demand for alternative supply routes has shifted the industry's focus toward infrastructure expansions.TPH said while several new export dock projects are already scheduled to come online over the next few years, executives are focused on the "next wave" of capacity expansions and additional brownfield opportunities.Targa Resources (TRGP) is seeing significant optionality at its Galena Park asset, with potential expansions expected to deliver improving economics as fixed costs are spread across a larger throughput base.The energy firm noted that incremental expansions at the site would yield progressively stronger economics as fixed operational costs are distributed across a larger volume base.Optimism also extended into the crude logistics sector, where Plains All American Pipeline (PAA) is re-evaluating its strategic footprint.Following its recent divestiture of certain NGL assets, the energy firm's management is focusing heavily on organic growth opportunities across its extensive pipeline network connecting the Permian Basin to the US Gulf Coast.Meanwhile, US midstream infrastructure firms are witnessing a robust pipeline of natural gas and power-related projects alongside strengthening demand trends across North America.Kinder Morgan (KMI) is advancing its Gulf Coast Express expansion project, which is expected to come online this quarter, while also progressing its Tennessee Gas Pipeline expansion, originally sized at about 500 million cubic feet per day.Trident Energy also continues to scale its development portfolio, targeting 1.5 billion cubic feet per day of capacity in 2027 and a further 0.5 Bcf/d in 2028, with major contract awards expected to begin in late 2027.DT Midstream (DTM) reported rising Northeast US demand, with its management pointing to about 7.5 Bcf/d of largely utility-scale demand, and noting potential upside from emerging modular power requirements.TPH Energy strategists said the energy firm also highlighted the flexibility of its Midwest Incremental Supply Transportation project, which can source gas from both the Northeast and western supply basins via interconnected pipeline networks.Energy Transfer (ET) said it continues to see strong demand across its system, particularly in the Permian Basin and around Abilene, Texas, where it is positioning itself as a key provider of redundancy and integrated gas services.The company also noted uncertainty around uncontracted "behind-the-pipe" gas volumes, though such volumes remain contractually protected in the near term.On the gas distribution side, Kodiak Gas Services (KGS) plans to grow its base business by 3% to 4% while expanding its power build-out ambitions, citing a 2-gigawatt development pipeline, supported by equipment-sourcing capacity and continued inbound interest in additional megawatt-scale projects.Meanwhile, Cheniere Energy (LNG) continues to advance its Corpus Christi and Sabine Pass liquefaction expansions, Van Everen said, with sufficient commercial agreements in place to support much of the two-train development.Once completed, the projects are expected to add about 6 million metric tons per annum of LNG capacity, with the firm targeting long-term contracted levels near historical averages of about 90%.Elsewhere, Excelerate Energy (EE) pointed to project opportunities in Jamaica, Vietnam and India, as the company looks to deploy floating LNG infrastructure to support emerging gas import markets.Price: $33.66, Change: $-0.65, Percent Change: -1.89%

$DTM$EE$ET$KGS$KMI$LNG$PAA$TRGP
Research

Research Alert: CFRA Keeps Buy Opinion On Shares Of Kinder Morgan

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price remains $36, based on a combination of our relative valuation and DCF models. On a relative basis, we apply an 11x multiple of enterprise value to projected '27 EBITDA, slightly above KMI's historical forward average. We think a slight premium is reasonable in light of growing demand for natural gas, helped by the twin secular drivers of LNG exports and data centers, and this multiple yields a value of $33 per share. Meanwhile, our DCF model, using free cash flow growth of 7.8% per year for 10 years and terminal growth of 2.5%, discounted at a WACC of 6.2%, yields intrinsic value of $39 per share. We raise our '26 EPS estimate by $0.12 to $1.48, but cut '27's by $0.03 to $1.47. Although the EIA's estimates of natural gas pricing have come slightly off the boil, we still think pricing in the high $3 per MMBtu range (which is what we see for 2026-2027) is sufficient to encourage incremental demand for gas midstream services, which KMI provides.

$KMI
Commodities

Kinder Morgan Q1 Earnings Beat Estimates, Lifts 2026 Outlook, RBC Says

Kinder Morgan's (KMI) Q1 earnings exceeded expectations, supported by stronger volumes, winter weather tailwinds and firmer commodity prices, RBC Capital Markets strategists said in a note on Friday.RBC analysts said it now expects 2026 adjusted EBITDA to come in at least 3% above its prior budget, reflecting stronger operating conditions across its network.However, despite the upbeat results, Kinder Morgan shares edged lower following the release, which analysts attributed to limited backlog growth, uncertainty surrounding its Western Gateway project and investor positioning ahead of other earnings in the sector.The broader midstream space has continued to outperform this year. The Alerian MLP Index rose 1.6% in the week ended April 23, outpacing the S&P 500, which gained 1%. Year-to-date, the midstream benchmark is up 14.5%, compared with a 3.8% rise in the S&P 500.RBC said that strength in the sector has been supported by steady cash flows and growing demand for natural gas infrastructure, even as commodity prices remain volatile.Front-month West Texas Intermediate crude rose about 2% on the week to about $97 per barrel, while Henry Hub natural gas prices slipped about 2% to $2.59 per million British thermal units.Cheniere Energy (LNG), in contrast, declined 2.1%, in what RBC analysts said could reflect positioning ahead of earnings and a rotation into other midstream names.Master limited partnerships modestly outperformed C-corporations during the week, with MLPs up 1.2% versus a 1% gain for corporates.Going forward, investors are focused on upcoming earnings from Enterprise Products Partners (EPD) and Oneok (OKE), both scheduled to report on April 28.Market participants will be watching for commentary on the impact of higher commodity prices, producer activity, project ramp-ups, export demand and capital allocation plans, as well as the effects of winter weather and evolving price spreads across key basins.RBC analysts flagged potential read-throughs for other operators, including Williams Companies (WMB), Energy Transfer (ET), Targa Resources (TRGP) and Sunoco (SUN), citing expected tailwinds from seasonal demand, marketing optimization and commodity price volatility.

$EPD$ET$KMI$LNG$OKE$SUN$TRGP$WMB
Commodities

Kinder Morgan Q1 Gas Transport Volumes Rise; Oil, Refined Product Volumes Decline

Kinder Morgan (KMI) reported Q1 earnings Wednesday, showing total transported natural gas volumes rose to 49,475 billion British thermal units per day over the year, from 45,978 billion Btu/d a year earlier.Total oil segment delivery volumes declined to 1.97 million barrels per day in Q1 2026, compared with 2.05 million b/d a year earlier.Within the oil segment, transported volumes of crude and condensate fell to 420,000 b/d in the quarter, down from 476,000 b/d a year earlier.Total refined product volumes edged lower, with transported volumes at 1.5 million b/d in Q1 2026, compared with 1.6 million b/d a year earlier.In the Products Pipelines segment, transported gasoline volumes dropped to 912,000 b/d from 933,000 b/d in Q1 2025, and jet fuel volumes also fell to 293,000 b/d from 302,000 b/d a year ago.In contrast, diesel fuel volumes increased to 340,000 b/d from 336,000 b/d in the year-ago period."Our Natural Gas Pipelines segment drove the bulk of that outperformance, benefiting from winter storm Fern and extended cold weather," Chief Executive Officer Kim Dang said.Executive Chairman Richard D. Kinder said geopolitical uncertainty surrounding the Middle East conflict remained elevated."The geopolitical landscape became even more turbulent this quarter, with conflict in the Middle East joining the ongoing war in Ukraine as a source of significant commodity price volatility," Kinder said, adding that the company was "largely insulated from that volatility.""Longer-term, these global conflicts highlight the benefits of securing liquefied natural gas supplies from the United States, driving incremental demand for the services we provide those shippers," he said, noting that domestic natural gas demand growth projections, particularly in the power sector, continue to be robust.On April 20, KMI and Phillips 66 (PSX) closed a second open season for the proposed Western Gateway Pipeline system with sufficient customer commitments to advance the project, subject to agreements and respective board approvals.The refined products pipeline aims to connect Midwest and Gulf Coast refinery supplies to Phoenix, Arizona and California markets with connectivity to Las Vegas, Nevada, via Kinder Morgan's CALNEV Pipeline. Completion is targeted for mid-2029.

$KMI$PSX
Research

Research Alert: Kmi: Natural Gas Is Hitting On All Cylinders

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:KMI delivered a solid Q1 earnings beat with adjusted EPS of $0.48 vs. $0.34, beating consensus by $0.09, while adjusted EBITDA of $2.54B rose 18% Y/Y. Natural gas segment results were strong, with transport volumes up 8% and gathering volumes surging 15%, though crude oil and condensate volumes fell 12%. We think near-term demand for natural gas logistics remains acute, driven by LNG exports and data center expansion, with pipeline utilization at 90% vs. 74% a decade ago. KMI reiterated 2026 guidance for adjusted EPS of $1.36 (+5%) and EBITDA of $8.6B (+2%), though management noted the company is tracking 3% above that pace. Project backlog edged higher to $10.1B with 92% tied to natural gas projects. The balance sheet continues improving with net debt-to-EBITDA falling to 3.6x from 3.8x, while free cash flow surged 73% to $687M. We believe the company has the financial flexibility for continued dividend growth or debt reduction, with the quarterly dividend up 2% to $0.2975.

$KMI
Commodities

Phillips 66, Kinder Morgan Push Western Gateway Project to Supply West Coast Markets

Phillips 66 (PSX) and Kinder Morgan (KMI) said Monday they are advancing the Western Gateway Pipeline after securing shipper commitments, targeting refined product flows to western US markets.The companies said the project moved forward after a successful open season attracted sufficient long-term commitments, pending final agreements and board approvals.The Western Gateway Pipeline is planned to connect Midwest and Gulf Coast refineries into key markets in Phoenix and California, while also linking into Las Vegas through Kinder Morgan's California-Nevada Pipeline.The development combines a newly built line from Borger, Texas to Phoenix with the conversion of Kinder Morgan's Santa Fe Petroleum Pipeline between Colton and Phoenix, enabling products to move westward into California.Feedstock will originate from refinery networks connected at Borger, Texas, with Phillips 66's Gold Pipeline set to be reversed to redirect product flows toward Borger and supply the new system.Phillips 66 Chief Executive Officer Mark Lashier said strong customer participation highlights the project's role in meeting long-term fuel transport needs, adding it is expected to enhance supply flexibility and reliability across West Coast markets.Kinder Morgan Chief Executive Officer Kim Dang said the firm will use its existing pipeline network to support growth in Arizona and California, leveraging its footprint to deliver an efficient transport solution.

$KMI$PSX
Sectors

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 3.9% and The United States Natural Gas Fund (UNG) was 0.3% higher.Front-month US West Texas Intermediate crude oil was 5.8% higher at $88.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 5.1% to $94.95 per barrel, and natural gas futures were up 1.6% at $2.72 per 1 million British Thermal Units.Eni (E) shares were up 0.7% after the company said it has made a gas discovery in the Kutei Basin off the coast of Indonesia.Phillips 66 (PSX) and Kinder Morgan (KMI) said they are advancing the proposed Western Gateway Pipeline after a successful second open season secured sufficient long-term shipper commitments, subject to final approvals. Phillips 66 stock was up more than 1% premarket.Sable Offshore (SOC) shares were up more than 3% after the company said capital expenditure across its assets is expected to be around $180 million from April through December this year.

$E$KMI$PSX$SOX$UNG$USO$XLE
Equities

Phillips 66, Kinder Morgan Advance Western Gateway Pipeline Toward 2029 Start

Phillips 66 (PSX) and Kinder Morgan (KMI) said Monday they are advancing the proposed Western Gateway Pipeline after a successful second open season secured sufficient long-term shipper commitments, subject to final approvals.The project will transport refined products from Midwest and Gulf Coast hubs to Arizona and California, with connectivity to Nevada, including a new Borger-to-Phoenix pipeline and the reversal of existing lines to support westward flows.The Western Gateway Pipeline is targeting a mid-2029 in-service date, the companies added.

$KMI$PSX
Wire

TD Cowen Adjusts Kinder Morgan Price Target to $37 From $35, Maintains Buy Rating

Kinder Morgan (KMI) has an average rating of overweight and mean price target of $35.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $31.41, Change: $-0.38, Percent Change: -1.20%

$KMI