New York, January 23, 2026, 09:06 EST — Premarket
- Kinder Morgan shares edged up roughly 0.8% in premarket trading to $29.93, following Thursday’s close at $29.69.
- The pipeline operator reported fourth-quarter adjusted earnings of 39 cents per share, beating estimates. It also raised its quarterly dividend to $0.2925 per share.
- Investors are awaiting the company’s Jan. 29 update for a closer look at its 2026 budget and project pipeline.
Kinder Morgan’s shares climbed roughly 0.8% in premarket trading Friday, staying close to recent peaks following the U.S. natural gas pipeline operator’s latest quarterly results and revised 2026 outlook.
The timing is key as capital flows back to gas-linked infrastructure plays, drawn by steady fees and rising demand from LNG exports and power generation. Kinder Morgan aims to prove it can expand without increasing leverage.
The stock closed Thursday with a roughly 3.9% gain, following the company’s earnings release after the market closed.
Kinder Morgan posted a fourth-quarter profit of $996 million, or 45 cents per share. Adjusted earnings came to 39 cents per share, beating the Zacks consensus of 37 cents. Revenue hit $4.51 billion.
The company reported adjusted EBITDA, a non-GAAP metric commonly viewed as a cash earnings proxy, climbed 10% year-over-year to $2.27 billion. Adjusted net income, excluding “certain items,” came in at $866 million, influenced by a gain from an asset sale. SEC
The board declared a quarterly cash dividend of $0.2925 per share, set for payment on Feb. 17 to shareholders recorded by Feb. 2, the company announced.
CEO Kim Dang revealed the company holds long-term agreements to transport 8 billion cubic feet per day (Bcf/d) of natural gas feedgas to LNG facilities, with plans to boost that to 12 Bcf/d by the close of 2028. (A Bcf/d equals a billion cubic feet per day.)
Dang highlighted data center locations and rising population as key factors boosting power demand in areas covered by Kinder Morgan’s assets. Executive Chairman Richard Kinder confirmed the company continues to rely on “take-or-pay” contracts, where customers pay for reserved capacity regardless of usage. SEC
Earlier this week, Reuters reported Kinder Morgan moved 48.4 trillion British thermal units of natural gas daily during the quarter, up from 44.5 trillion a year earlier. The company’s project backlog also rose to $10 billion, up from $9.3 billion the previous quarter. CFO David Michels told Reuters the firm is seeing “robust demand” for natural gas, driven by LNG and data center needs. Reuters
Kinder Morgan set its 2026 adjusted earnings per share target at $1.36 and forecasted adjusted EBITDA at $8.6 billion, according to its filing. The company also plans to pay dividends of $1.19 per share for the year. Additionally, it confirmed its goal of a net debt-to-adjusted EBITDA ratio of 3.8 times by the end of the year.
Williams Companies edged up roughly 0.9% in early trading, while Enterprise Products Partners gained about 0.6%. Oneok saw the biggest jump, climbing some 3.6%, according to the latest indicated prices.
Investors remain wary of some weak points. Refined products volumes dropped 2% in the quarter, while crude and condensate volumes slid 8%, the company said, as older contracts expired ahead of a pipeline conversion. Earnings in its CO2 segment also took a hit from lower commodity prices and softer renewable fuel credit (RIN) values. Plus, major growth projects still depend heavily on permits and regulatory timing.
Kinder Morgan will release its annual business update Thursday, Jan. 29. Investors will zero in on details around the 2026 budget and the timeline for projects — what’s being built and when.
