Kinder Morgan Is Doing Well, But Not Well Enough For An Upgrade

Kinder Morgan remains a 'hold' as upside appears limited despite strong operational performance and a $10B project backlog. Click for this KMI stock update.

I never enjoyed taking anything other than a bullish stance on companies. If the world were a perfect place, every company would do exceptionally well. But that's not the nature of reality.

There are times, even when a company is doing well fundamentally, that you need Summary - Kinder Morgan remains a 'hold' as upside appears limited despite strong operational performance and a $10B project backlog. - KMI's Q1 2026 saw revenue up 13.8% and adjusted operating cash flow rise to $1.83B, with robust growth in Natural Gas Pipelines. - Relative valuation is middling; KMI trades at higher multiples than most peers but boasts one of the lowest net leverage ratios.

- Management prioritizes growth over yield, allocating $3.85B to expansion in 2026, with distributions lower than most comparables. - Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate.

Learn More » Analyst’s Disclosure: I/we have a beneficial long position in the shares of ET either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha).

I have no business relationship with any company whose stock is mentioned in this article.