• In February 2026, Kinder Morgan reported strong fourth-quarter and record full-year results, announced its ninth consecutive annual dividend increase of about 2%, and detailed plans to invest roughly US$3.30 billion in 2026 expansion projects and joint ventures while an executive sold 8,000 shares and prior insider buying by a director came to light.
• Together, the fresh dividend increase, multibillion-dollar pipeline expansion backlog, and mixed insider trading activity highlight Kinder Morgan’s effort to balance long-term natural gas and LNG infrastructure growth with ongoing cash returns to shareholders.
• With Kinder Morgan pairing another dividend increase with a US$3.30 billion 2026 expansion plan, we’ll examine how this reshapes its investment narrative.

Find 53 companies with promising cash flow potential yet trading below their fair value.

Kinder Morgan Investment Narrative Recap

To own Kinder Morgan, you have to believe that long-lived North American gas and pipeline assets will keep throwing off steady cash flows, even as the energy transition advances. The latest results, dividend bump, and US$3.30 billion 2026 expansion plan support that income-and-infrastructure story, while the recent insider sale does not appear to materially change the near term catalyst of LNG-linked volume growth or the main risk around high leverage and interest coverage.

The most directly relevant piece of news here is Kinder Morgan’s ninth consecutive annual dividend increase, to US$1.17 per share. That decision, paired with a growing expansion backlog, puts more emphasis on the company’s ability to keep funding both shareholder payouts and new projects from internal cash generation, which ties straight into the risk that rising maintenance needs and an aging asset base could strain free cash flow over time.

Yet behind the steady dividend growth, investors should be aware of the pressure that Kinder Morgan’s sizeable debt load could…

Read the full narrative on Kinder Morgan (it’s free!)

Kinder Morgan’s narrative projects $20.2 billion revenue and $3.7 billion earnings by 2028. This requires 8.2% yearly revenue growth and about a $1.0 billion earnings increase from $2.7 billion today.

Uncover how Kinder Morgan’s forecasts yield a $31.76 fair value, a 3% downside to its current price.

Exploring Other Perspectives

Three members of the Simply Wall St Community value Kinder Morgan between US$31.76 and US$49.77 per share, showing how far apart individual views can be. You can weigh those against the current focus on LNG driven expansion and Kinder Morgan’s ongoing exposure to long term energy transition risks when thinking about the company’s future earnings power.

Explore 3 other fair value estimates on Kinder Morgan – why the stock might be worth as much as 52% more than the current price!

The Verdict Is Yours

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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