Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Kinder Morgan’s second quarter of 2026 results demonstrated continued operational strength and financial performance above both prior year and internal forecasts.</li><li>Adjusted EBITDA increased by 12%, and adjusted earnings per share (EPS) rose by 32% compared to the second quarter of 2025, with every business segment contributing positively to the quarter’s results.</li><li>The company has raised its full-year guidance, now anticipating adjusted EBITDA at least 5% above the 2026 budget and adjusted EPS at least 12% higher than initially projected.</li></ul>

Kinder Morgan’s second quarter of 2026 results demonstrated continued operational strength and financial performance above both prior year and internal forecasts.Adjusted EBITDA increased by 12%, and adjusted earnings per share (EPS) rose by 32% compared to the second quarter of 2025, with every business segment contributing positively to the quarter’s results.The company has raised its full-year guidance, now anticipating adjusted EBITDA at least 5% above the 2026 budget and adjusted EPS at least 12% higher than initially projected.

Kinder Morgan’s $9.6 Billion Pipeline Backlog Signals A Major Infrastructure Buildout!

<ul><li>Kinder Morgan reported a strong first quarter in 2026, marked by significant growth across all business segments and a continued positive outlook for natural gas demand in the U.S. The company noted a 41% increase in adjusted EPS and an 18% growth in EBITDA compared to the first quarter of 2025.</li><li>This performance was largely driven by heightened natural gas demand due to weather events like Winter Storm Fern and sustained demand from the Northeast, coupled with broader structural growth in LNG feed gas and gas-fired power generation.</li><li>Kinder Morgan highlights that natural gas demand is expected to rise 27% by 2031, with pipeline utilization already exceeding 90%, underscoring the firm’s pipeline expansion opportunities, backed by a backlog of $10.1 billion in projects aimed at addressing future capacity needs.</li></ul>

Kinder Morgan reported a strong first quarter in 2026, marked by significant growth across all business segments and a continued positive outlook for natural gas demand in the U.S. The company noted a 41% increase in adjusted EPS and an 18% growth in EBITDA compared to the first quarter of 2025.This performance was largely driven by heightened natural gas demand due to weather events like Winter Storm Fern and sustained demand from the Northeast, coupled with broader structural growth in LNG feed gas and gas-fired power generation.Kinder Morgan highlights that natural gas demand is expected to rise 27% by 2031, with pipeline utilization already exceeding 90%, underscoring the firm’s pipeline expansion opportunities, backed by a backlog of $10.1 billion in projects aimed at addressing future capacity needs.

Kinder Morgan: A $10.1 Billion Backlog Signals Capacity Growth Opportunities!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>
<a href="https://smartkarma.com/entities/kinder-morgan-inc-de">Kinder Morgan</a> is a premier North American energy infrastructure firm, uniquely positioned to capitalize on the secular growth of U.S. natural gas and LNG exports.</li>
  <li>The company's business model is anchored by a vast and difficult-to-replicate network of assets that generate stable, fee-based cash flows from long-term contracts, largely insulating it from direct commodity price volatility.</li>
  <li>A significant project backlog, focused on expanding natural gas transportation capacity, provides visible future growth, though execution is subject to regulatory oversight and potential delays.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Kinder Morgan is a premier North American energy infrastructure firm, uniquely positioned to capitalize on the secular growth of U.S. natural gas and LNG exports.
  The company's business model is anchored by a vast and difficult-to-replicate network of assets that generate stable, fee-based cash flows from long-term contracts, largely insulating it from direct commodity price volatility.
  A significant project backlog, focused on expanding natural gas transportation capacity, provides visible future growth, though execution is subject to regulatory oversight and potential delays.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Kinder Morgan (KMI US) - Mar 2026

<ul><li>Kinder Morgan Inc.'s latest quarterly financial disclosure highlights notable performance improvements and strategic directions, which can influence potential investment decisions.</li><li>The company demonstrated strong results, particularly in the natural gas sector, but also continues to face industry challenges that require analysis.</li><li>Over the fourth quarter of 2025, Kinder Morgan Inc. reported a robust financial performance.</li></ul>

Kinder Morgan Inc.'s latest quarterly financial disclosure highlights notable performance improvements and strategic directions, which can influence potential investment decisions.The company demonstrated strong results, particularly in the natural gas sector, but also continues to face industry challenges that require analysis.Over the fourth quarter of 2025, Kinder Morgan Inc. reported a robust financial performance.

Kinder Morgan Just Pulled Off a Smart Asset Sale—The Capital Recycling Strategy With REAL Upside!

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>The LNG buildout rewards infrastructure over commodity exposure, and Kinder Morgan’s scale, network reach and gas-focused backlog position it at the centre of structurally rising U.S. feed-gas demand.</li>
<li>Robust cash flows, dominated by take-or-pay and fee-based revenues, underpin earnings visibility, support balance-sheet resilience and enable Kinder Morgan to deleverage while growing dividends through the LNG cycle.</li>
<li>Compared with higher-yield peers, Kinder Morgan offers a defensive LNG expression, combining solid margins, disciplined leverage and pipeline connectivity to monetise volume growth without relying on commodity price upside.</li>
</ul>


The LNG buildout rewards infrastructure over commodity exposure, and Kinder Morgan’s scale, network reach and gas-focused backlog position it at the centre of structurally rising U.S. feed-gas demand.
Robust cash flows, dominated by take-or-pay and fee-based revenues, underpin earnings visibility, support balance-sheet resilience and enable Kinder Morgan to deleverage while growing dividends through the LNG cycle.
Compared with higher-yield peers, Kinder Morgan offers a defensive LNG expression, combining solid margins, disciplined leverage and pipeline connectivity to monetise volume growth without relying on commodity price upside.


Kinder Morgan: The Durable Beneficiary of Rising U.S. LNG Exports

United States

Kinder Morgan, Inc. of Delaware operates as a pipeline transportation and energy storage company. The Company owns and operates pipelines that transport natural gas, gasoline, crude oil, carbon dioxide, and other products, as well as terminals that store petroleum products and chemicals and handle bulk materials like coal and petroleum coke.

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Kinder Morgan (KMI US)

Kinder Morgan’s $9.6 Billion Pipeline Backlog Signals A Major Infrastructure Buildout!

Kinder Morgan’s second quarter of 2026 results demonstrated continued operational strength and financial performance above both prior year and...

Baptista Research

Kinder Morgan: A $10.1 Billion Backlog Signals Capacity Growth Opportunities!

Kinder Morgan reported a strong first quarter in 2026, marked by significant growth across all business segments and a continued positive outlook...

Baptista Research

Primer: Kinder Morgan (KMI US) - Mar 2026

Kinder Morgan is a premier North American energy infrastructure firm, uniquely positioned to capitalize on the secular growth of U.S. natural...

αSK Primers

Kinder Morgan Just Pulled Off a Smart Asset Sale—The Capital Recycling Strategy With REAL Upside!

Kinder Morgan Inc.'s latest quarterly financial disclosure highlights notable performance improvements and strategic directions, which can...

Baptista Research

Kinder Morgan: The Durable Beneficiary of Rising U.S. LNG Exports

Kinder Morgan's strong infrastructure and gas-focused backlog make it a key player in the growing U.S. LNG market, with stable cash flows and...

Mint Finance

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52-week Range

Market Cap (USDm)

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Kinder Morgan’s $9.6 Billion Pipeline Backlog Signals A Major Infrastructure Buildout!

Kinder Morgan’s second quarter of 2026 results demonstrated continued operational strength and financial performance above both prior year and...

Baptista Research

Kinder Morgan: A $10.1 Billion Backlog Signals Capacity Growth Opportunities!

Kinder Morgan reported a strong first quarter in 2026, marked by significant growth across all business segments and a continued positive outlook...

Baptista Research

Primer: Kinder Morgan (KMI US) - Mar 2026

Kinder Morgan is a premier North American energy infrastructure firm, uniquely positioned to capitalize on the secular growth of U.S. natural...

αSK Primers

Kinder Morgan Just Pulled Off a Smart Asset Sale—The Capital Recycling Strategy With REAL Upside!

Kinder Morgan Inc.'s latest quarterly financial disclosure highlights notable performance improvements and strategic directions, which can...

Baptista Research

Kinder Morgan: The Durable Beneficiary of Rising U.S. LNG Exports

​Kinder Morgan's strong infrastructure and gas-focused backlog make it a key player in the growing U.S. LNG market, with stable cash flows and...

Mint Finance

Kinder Morgan's strong infrastructure and gas-focused backlog make it a key player in the growing U.S. LNG market, with stable cash flows and...