Mizuho Highlights Kinder Morgan's (KMI) $9.3 Billion Project Backlog and 4.5% EBITDA CAGR

Kinder Morgan Inc. (NYSE:KMI) ranks among the 9 hot energy stocks to buy. Mizuho reduced its price target for Kinder Morgan Inc. (NYSE:KMI) from $32 to $31 on November 14, while retaining an Outperform rating after the company’s third-quarter earnings report. The company reported earnings per share of $0.29, slightly lower than analyst expectations of $0.30. Despite the modest miss in EPS, Kinder Morgan Inc. (NYSE:KMI) outperformed revenue estimates, with solid performance in its natural gas infrastructure division.

Mizuho emphasized Kinder Morgan’s substantial $9.3 billion project backlog, which includes $8.4 billion in natural gas potential. The firm acknowledged the possibility of higher growth if projects from the company’s estimated $10 billion growing potential backlog come through.

The firm also upgraded its 2025-2027 expectations for Kinder Morgan Inc. (NYSE:KMI) and began predictions for 2028-2029, forecasting a 4.5% adjusted EBITDA CAGR through 2029.

Kinder Morgan Inc. (NYSE:KMI) is an energy infrastructure company focused on transporting and storing energy products through a vast network of pipelines and terminals. Its business involves moving natural gas, gasoline, crude oil, and other products, as well as storing and handling commodities like chemicals, renewable fuels, and more.

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Disclosure: None. This article is originally published at Insider Monkey.