Kinder Morgan (NYSE: KMI) is a growing company with highly visible revenue and cash flow. While visibility can hinder stock price action by enabling the market to accurately price in the outlook, Kinder Morgan’s trends are bullish—this market is perpetually catching up with an improving outlook. Key details from the Q3 results include monetizing prior investments alongside $4.7 billion in newly approved pipeline investments, representing its share of two joint ventures.
The takeaway is that Kinder Morgan, which primarily self-funds its growth, is adding two major natural gas pipelines to its network, backed by long-term distribution agreements that cement its growth trajectory and visibly increase its long-term revenue-generating and cash-flow potential. Its stock price could follow. Both projects are expected to begin service in 2030, subject to regulatory approvals.
