Analyst Gabe Moreen of Mizuho Securities maintained a Buy rating on Kinder Morgan (KMI – Research Report), with a price target of $22.00.
Gabe Moreen’s Buy rating for Kinder Morgan is founded on a blend of the company’s strategic positioning and its capacity for growth in the natural gas market. Kinder Morgan’s extensive pipeline network and pivotal presence in high-demand regions position it well to capitalize on the increasing natural gas demand projected in North America. By 2030, this demand is expected to grow significantly, driven by various factors including industrial demand and the need for backup to renewable power sources.
Moreover, Kinder Morgan’s approach to growth involves leveraging brownfield projects to meet incremental demand, while also preparing for more substantial greenfield projects to address larger-scale demand surges. The company’s financial strategy, which includes using balance sheet flexibility for mergers, acquisitions, and buybacks, further supports its growth prospects. This combination of a strong, existing infrastructure and a clear path for expansion underlines Moreen’s confidence in Kinder Morgan’s potential for enhanced shareholder value, justifying the Buy rating.
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Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KMI in relation to earlier this year.
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Kinder Morgan (KMI) Company Description:
Texas-based Kinder Morgan, Inc. is an energy infrastructure company. The company is engaged in the operation of pipelines and terminals that transport natural gas, gasoline, crude oil, carbon dioxide (CO2) and other products. It also stores petroleum products, chemicals and handles bulk materials like ethanol, coal, petroleum coke and steel. It operates through the following segments: Natural Gas Pipelines, CO2, Terminals, and Products Pipelines.
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