Kinder Morgan
Transports natural gas and fuels through pipelines, storage, terminals, and tankers.
Something off on this page? Send us feedback.
Profile
Transports and stores natural gas, refined fuels, crude oil, and carbon dioxide while operating gathering, processing, terminal, and Jones Act tanker assets across the United States. Long-term capacity contracts and regulated tariffs drive much of the fee base, though volumes, contract renewals, and commodity-linked activities still shape results.
Transports and stores natural gas through interstate and intrastate pipelines, gathering and processing systems, storage fields, and LNG facilities. Products Pipelines moves refined fuels, crude oil, and condensate, while Terminals handles liquid and dry-bulk commodities and operates Jones Act tankers. The CO2 segment supplies carbon dioxide for enhanced oil recovery and also houses oil production and renewable natural gas assets.
Connects producing basins with utilities, industrial users, population centers, and LNG export markets across the United States, with additional links into Mexico. Long-term capacity reservations, minimum-volume commitments, and regulated tariffs support much of the fee base, while gathering, marketing, CO2, and oil-production activities retain volume or commodity exposure. Interstate rates and services fall under FERC oversight; expansions also depend on permits, rights-of-way, pipeline-safety rules, and environmental compliance.
Company facts
Key statistics
Year to date +13.9% · Average volume (30d) 10.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 29, 2026 | Morgan Stanley | Target | $35 | $38 | ||
| Jul 23, 2026 | Wells Fargo | Reiterate | Overweight | $27 | $36 | |
| Jun 15, 2026 | UBS | Target | $38 | $43 | ||
| Mar 26, 2026 | Scotiabank | Reiterate | Sector Perform | $30 | $32 | |
| Jan 28, 2026 | Freedom Broker | Upgrade | Sell | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 24, 2026Q2 FY26 | — | $0.39 | — | — | $4.48B | — | −3.38% |
| Jul 22, 2026Q2 FY26 | $0.32 | $0.37 | +15.4% | $4.22B | $4.48B | +6.0% | +0.86% |
| Apr 22, 2026Q1 FY26 | $0.40 | $0.48 | +21.2% | $4.63B | $4.83B | +4.3% | −0.25% |
| Jan 21, 2026Q4 FY25 | $0.36 | $0.39 | +6.9% | $4.32B | $4.51B | +4.4% | +3.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.25B | $4.04B | $4.15B | $4.51B | $4.83B | $4.48B | |
| Gross profit | $1.54B | $1.44B | $1.36B | $3.06B | $2.37B | $3.07B | |
| Operating income | $1.24B | $1.14B | $1.06B | $1.36B | $1.44B | $1.35B | |
| Net income | $717.0M | $715.0M | $628.0M | $996.0M | $976.0M | $867.0M | |
| Diluted EPS | $0.32 | $0.32 | $0.28 | $0.45 | $0.44 | $0.39 | |
| Gross margin | 36.2% | 35.7% | 32.7% | 67.9% | 49.0% | 68.6% | |
| Operating margin | 29.2% | 28.3% | 25.6% | 30.3% | 29.9% | 30.1% |
Fiscal years (4-quarter sums)FY21 $17.53B · FY22 $19.55B · FY23 $15.16B · FY24 $15.07B · FY25 $16.95B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $89.0M · Total debt $32.25B · Total assets $74.06B · Shareholders' equity $31.63B
Dividends
Raised for 9 straight years — most recently to $0.2975 from $0.2925 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 3, 2026 | Aug 3 | Aug 17 | $0.2975 | |
| May 4, 2026 | May 4 | May 15 | $0.2975 | raised from $0.2925 |
| Feb 2, 2026 | Feb 2 | Feb 17 | $0.2925 | |
| Nov 3, 2025 | Nov 3 | Nov 17 | $0.2925 | |
| Jul 31, 2025 | Jul 31 | Aug 15 | $0.2925 | |
| Apr 30, 2025 | Apr 30 | May 15 | $0.2925 | raised from $0.2875 |
| Feb 3, 2025 | Feb 3 | Feb 18 | $0.2875 | |
| Oct 31, 2024 | Oct 31 | Nov 15 | $0.2875 |
Ownership
Shares outstanding 2.23B · Float 1.94B · 86.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Richard D. Kinder · director, 10 percent owner, officer: Executive Chairman | 246.21M | 11.06% | Form 4 | Oct 28, 2025 |
| BlackRock, Inc. | 175.83M | 7.90% | 13F | Aug 7, 2026 |
| State Street Corp | 130.86M | 5.88% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 125.59M | 5.64% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 67.89M | 3.05% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Michael P. Garthwaite | officer: VP (Pres., Products Pipelines) | −1,550 | $32.65 |
| Jul 16, 2026 | Michael P. Garthwaite | officer: VP (Pres., Products Pipelines) | −1,550 | $32.52 |
| Jul 6, 2026 | John W. Schlosser | officer: V.P. (President, Terminals) | −6,166 | $31.90 |
| Jun 16, 2026 | Michael P. Garthwaite | officer: VP (Pres., Products Pipelines) | −1,550 | $31.44 |
| Jun 5, 2026 | John W. Schlosser | officer: V.P. (President, Terminals) | −6,166 | $31.83 |
Peers
- Williams
Transco owner; top US gas pipeline rival in interstate and LNG-demand markets.
- Enbridge
Largest North American midstream; competes in US gas pipelines post-utility buy.
- Energy Transfer
Large US midstream MLP competing in gas pipelines, NGL, crude, and terminals.
- Enterprise Products Partners
Largest US NGL MLP; overlaps KMI in Gulf Coast terminals and gas pipelines.
- TC Energy
Pure-play North American gas pipeline company after 2024 liquids spin-off.
- ONEOK
Post-Magellan NGL giant now spanning NGLs, refined products, and gas pipelines.
- MPLX
MPC-affiliated MLP competing in Appalachian gas G&P and products pipelines.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kinder Morgan | $31.50 | −0.16% | $70.28B | 20.2 | 21.2 | 3.9 | +10.8% |
| Williams | $74.47 | +1.02% | $90.18B | 29.3 | 30.4 | 7.4 | +10.2% |
| Enbridge | $50.26 | +0.12% | $109.62B | 24.2 | 23.4 | 1.6 | +41.2% |
| Energy Transfer | $21.34 | +0.12% | $73.33B | 13.2 | 12.9 | 0.7 | +78.4% |
| Enterprise Products Partners | $39.00 | −0.04% | $84.42B | 13.5 | 12.8 | 1.4 | +60.8% |
| TC Energy | $61.70 | −0.23% | $64.40B | 25.7 | 23.9 | 5.6 | +1.9% |
| ONEOK | $94.50 | −0.26% | $59.71B | 16.3 | 15.6 | 1.5 | +52.8% |
| MPLX | $59.28 | −0.05% | $60.12B | 12.7 | 12.8 | 4.7 | +10.6% |
| Median | 16.3 | 15.6 | 1.6 | +41.2% |