Key Stats for Kinder Morgan Stock
- This Week Performance: +1.6%
- 52-Week Range: $23.9 to $33.4
- Current Price: $33.3
What Happened?
Kinder Morgan stock currently trades at $33.27, just cents below its 52-week high of $33.35, as record LNG feed gas demand rewrites its growth ceiling entirely.
Specifically, S&P upgraded KMI to BBB+ in January, while Fitch had already upgraded to BBB+ in summer 2025, with Moody’s placing the company on positive outlook.
The engine behind this re-rating is KMI’s $10.0 billion project backlog, with 60% tied to power demand and LNG feed gas projected to hit 19.8 Bcf per day in 2026.
However, the market is actively reclassifying KMI from a slow-yield pipeline operator to a high-conviction infrastructure compounder fueled by data center and LNG supercycles.
CEO Kimberly Dang stated on the Q4 earnings call that “we are in various stages of development to potentially serve more than 10 Bcf a day of natural gas demand in the power generation sector,” underscoring the scale of KMI’s pipeline opportunity network.
Additionally, Bank of America analysts flagged that Permian gas production growth will accelerate in the second half of 2026 once new pipeline capacity enters service, directly benefiting KMI’s Gulf Coast Express expansion.
Looking ahead, KMI’s position serving 40% of U.S. LNG feed gas demand today, against a backdrop of demand projected to exceed 34 Bcf per day by 2030, cements its structural advantage for years ahead.
Wall Street’s Take on KMI Stock
KMI’s record dual credit upgrades to BBB+ directly expand its addressable project universe, accelerating the $10.0 billion backlog conversion into cash-generating infrastructure.
Fundamentally, KMI grew revenue 12.2% to $16.9 billion in 2025, with adjusted EBITDA reaching $8.4 billion, and analysts project further revenue growth of 5.0% and EPS of $1.4 in 2026.
Wall Street currently shows 10 buys, 2 outperforms, 9 holds, and 1 underperform, with a mean price target of $32.1, implying roughly 3.4% downside from the current $33.3 price.
Nevertheless, the spread between the $26.0 low target and $38.0 high target reflects a genuine fork: pipeline execution on Trident and MSX drives upside, while commodity-linked volume softness anchors the bear case.
What Does the Valuation Model Say?
KMI’s $10.0 billion backlog and strengthening balance sheet support the TIKR mid-case target of $40.5, implying a 21.7% total return over 4.8 years at a 4.1% annualized IRR.
The market underestimates KMI’s power demand exposure, treating it as a slow-yield pipeline rather than a structural LNG and data center infrastructure compounder.
The TIKR model targets $40.5, implying 21.7% total return from current levels.
KMI already serves 40% of U.S. LNG feed gas demand, with that figure projected to grow past 34.0 Bcf per day by 2030.
Furthermore, Management’s three simultaneous on-budget major projects and S&P’s BBB+ upgrade confirm execution credibility, not speculation.
However, Waha Hub prices averaging just $0.8 per mmBtu year-to-date versus a five-year average of $2.9 signals persistent Permian basis risk that could compress gathering margins before new pipelines enter service mid-2026.
The single most important event to watch is the mid-2026 in-service date for the Gulf Coast Express expansion and Blackcomb pipeline, as new egress capacity directly unlocks accelerated Permian gathering volume growth.
KMI appears moderately undervalued at $33.3, with the TIKR mid-case target of $40.5 grounded in LNG feed gas demand growth, though the pipeline execution timeline through mid-2026 remains the key gating risk.
Should You Invest in Kinder Morgan, Inc.?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up KMI stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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