In a report released yesterday, Michael Blum from Wells Fargo reiterated a Buy rating on Kinder Morgan (KMI – Research Report), with a price target of $33.00.
Michael Blum has given his Buy rating due to a combination of factors including Kinder Morgan’s robust project pipeline and strategic positioning in the natural gas sector. The company announced $660 million in new gas projects and has a strong backlog momentum, with $900 million added this quarter, predominantly tied to power. This brings their total backlog to $8.8 billion, with $7.5 billion dedicated to gas projects, indicating a strong growth trajectory.
Additionally, Kinder Morgan has shown resilience against macroeconomic uncertainties and tariff impacts by maintaining a conservative yet positive outlook for 2025. The management’s proactive measures, such as pre-ordering equipment and negotiating capital expenditures, have minimized tariff impacts, which are estimated to affect only 1% of total project costs. These strategic initiatives, coupled with the reaffirmation of their 2025 budget and potential for expansion in various projects, underpin the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $31.00 price target.
Based on the recent corporate insider activity of 34 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.