$EP-PC

Jefferies reduced its price target for Kinder Morgan (KMI) to $33 from $35, citing project timing concerns, while maintaining a Hold rating. The stock trades at $31.31. KMI reported strong Q2 results, beating earnings and revenue estimates, and raised its 2026 guidance. The company's dividend yield is 3.87%, and it has raised dividends for 8 consecutive years.

Kinder Morgan (KMI) plans $1.4B in new gas projects, targeting $1.7B in incremental EBITDA. The company expects U.S. natural gas demand to rise to 160 Bcf per day by 2035, driven by LNG exports and power demand. Projects include expansions in Appalachia, Texas, and the Permian Basin, with growth extending into 2030. KMI's debt-to-EBITDA ratio is 3.6x, near the low end of its target range.

Kinder Morgan (KMI) outlined growth plans at the Barclays Energy-Power Conference, focusing on natural gas, LNG exports, and power demand. The company reported a $9.6B backlog, 90% backed by take-or-pay contracts, and expects it to exceed $10B by year-end. Management anticipates strong demand growth and plans $1.4B in new projects. KMI's debt-to-EBITDA ratio is 3.6x, within its target range, and it can fund $3B+ annual expansion spending from cash flow.

Kinder Morgan (KMI), a $69.9B energy infrastructure company, has underperformed the Pacer American Energy Infrastructure ETF (USAI) over the past year, with a 20.8% gain compared to USAI's 24.3%. KMI is expanding its growth platform through a $5B pipeline project with Phillips 66 (PSX) and HF Sinclair (DINO), and Goldman Sachs expects increased natural gas demand to benefit KMI. The stock has a 'Moderate Buy' consensus with a $36.25 price target, suggesting 13.4% upside.

Enterprise Products Partners (EPD) reported record Q2 2026 adjusted EBITDA of $2.83B. Kinder Morgan (KMI) saw Q2 free cash flow of $978M and a Moody's upgrade. Williams Companies (WMB) raised 2026 EBITDA guidance to $8.3B-$8.5B. ONEOK (OKE) expects 2026 EBITDA of $7.9B-$8.3B. Energy Transfer (ET) raised 2026 EBITDA guidance to $18.8B-$19.1B. All companies increased distributions and highlighted strong cash flows.

Kinder Morgan (KMI) raised its dividend by 2% to $1.19 annually, while Williams Companies (WMB) increased its dividend by 5% to $2.10 annually, with a 52-year payout streak. WMB carries higher leverage but expects deleveraging by 2028. Both companies benefit from strong natural gas sector trends.

US natural gas exports to Mexico hit a record 7.9 Bcf/d in August 2026, driven by strong power and LNG demand. Texas flows set new records, with Mexico's electricity sector and LNG infrastructure supporting growth. Kinder Morgan and ONEOK are investing in pipeline and processing capacity. US LNG exports, led by Cheniere Energy, are also rising, competing for gas supplies. Wood Mackenzie forecasts significant power-sector gas demand growth in North America.

Kinder Morgan (KMI) and other infrastructure stocks reported strong Q2 earnings, with revenues up 14.1% on average. KMI's revenue rose 10.8% YoY, beating estimates. Genesis Energy (GEL) saw a 41% revenue increase, while DHT Holdings (DHT) had 174% growth. Expand Energy (EXE) and Kodiak Gas Services (KGS) also reported, with mixed results. Stocks in the sector are up 9.2% on average since earnings.

Midstream companies are expanding natural gas infrastructure due to increased production and demand. Key projects include new pipelines and processing plants, with a collective $160B backlog. Companies like Kinder Morgan, Energy Transfer, and Targa Resources are involved, raising financial guidance. Permian Basin's gas output is growing, driving infrastructure investments.

Enterprise Products Partners (EPD) reported record volumes in Q2 2026, driven by strong U.S. energy exports. The company has $6.5B in organic projects under construction, including expansions to handle increased exports. EPD's shares rose 23.4% over the past year, trading at an EV/EBITDA of 11.12X. Kinder Morgan (KMI) and Energy Transfer (ET) also benefit from rising U.S. energy exports, with KMI's gas volumes up 7% and ET's NGL exports up 25% in Q2 2026.