KMI — Kinder Morgan, Inc.
Energy · Oil & Gas Midstream
About Kinder Morgan, Inc.
Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America. It operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and 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 gasification, 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, renewable fuel and feedstocks, 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. 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 1997 and is headquartered in Houston, Texas.
The midstream & LNG industry
Midstream companies own the infrastructure between the wellhead and the customer — pipelines, gathering and processing plants, storage, and export terminals. Most earn fees on volumes moved under long-term contracts, so their cash flow is steadier than the producers they serve, and much of it is paid out as high dividends or distributions (several names here are partnerships with special tax treatment). Cheniere (LNG) is the standout business model: it liquefies US natural gas and ships it abroad under decade-long contracts — a toll road on the global gas trade. The read here is contract quality and payout coverage, not the daily oil price: these are income vehicles first, commodity plays second. Kinder Morgan owns one of the biggest US natural-gas pipeline networks, increasingly pitched as a data-center power-demand story.
Key data · delayed ~15 min, as of 1 August 2026
| Ticker | KMI |
| Company | Kinder Morgan, Inc. |
| Price | $32.18 |
| Market cap | $71.6B |
| Sector / industry | Energy / Oil & Gas Midstream |
| Analyst mean target | $36 (21 analysts, buy) |
Valuation read
What the price implies: the market is pricing in roughly ~6%/yr earnings growth (moderate), on a reverse-DCF of forward earnings ($1.54). Run your own assumptions in the fair-value calculator.
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