Kinder Morgan (KMI)

Kinder Morgan (KMI) is the largest energy infrastructure company in North America. They own an interest in or operate approximately 84,000 miles of pipelines and approximately 180 terminals. Their pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and their terminals transload and store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. They are also the leading producer and transporter of CO2, which is utilized for enhanced oil recovery projects in North America. Their common stock trades on the NYSE under the symbol “KMI.”

Free Trial of Client Portal

Mind the Gap in the Kinder Morgan Outlook

Kinder Morgan (KMI) is guiding to a strong performance in 2023, a somewhat surprising development given our perspective on the year ahead. In our company Blueprint Financial Model, East Daley is well under KMI’s outlook for 2023.

KMI released guidance for 2023 last Thursday (Dec. 8). The company expects EBDA of $8.2 billion, ~7% above East Daley’s current forecast of $7.65 billion in our KMI Blueprint (see chart). KMI attributes the gains to demand for gas transport and storage services, tariff escalations on liquids pipelines, G&P and products growth, as well as Jones Act tanker recontacting.

Read Full Article