Kinder Morgan


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SKU: KMI Category:


This is our first report on energy infra major, Kinder Morgan. In 2022, the company was off to a strong start with attractive opportunities for adding growth and robust performance in its base business. As a matter of fact, the balance sheet of the company is quite strong. Kinder Morgan witnessed quite a strong commercial performance in the gas business in recent results with continuous improvements in its contract renewal, particularly in its flexible gas storage services. Kinder Morgan recently joined a Cheniere-led project that is focused on the emissions of a Greenhouse Gas that is associated with the natural gas gathering, transmitting, processing, and storage system operation. On the Permian, the company is working towards developing and commercializing its compressed expansions on the GCX and PHP pipelines. Moreover, Kinder Morgan is continuing to advance in its three projects on renewable gas that it picked up in the acquisition of Kinetrex the previous year. Though the terminals were missed by a bit, Kinder Morgan started to view a good recovery in its rates of Jones Act charter and robust performance in its bulk terminals business. We initiate coverage on the stock of Kinder Morgan with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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