Melius Research starts coverage of Kinder Morgan stock at USD 38.00

Published on 10/12/2026 at 11:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue hit USD 4.48 billion, up 10.80 percent. Kinder Morgan stock costs EUR 29.15 on October 12, 2026, with EBITDA guidance 5.00 percent above budget.

Key points in brief

Melius Research initiated coverage of Kinder Morgan with a USD 38.00 target on September 22, 2026.
Second-quarter revenue reached USD 4.48 billion, up 10.80 percent year over year.
Kinder Morgan reported EUR 29.15 at Lang & Schwarz on October 12, 2026 at 11:47 a.m. CEST.
The next earnings date is October 28, 2026, after the close.

Dokumentarische Schwarzweißaufnahme von Arbeitern an einer großen Pipeline-Baustelle — Schwarzweiß-Reportagefoto von Pipeline-Bauarbeitern repräsentiert Kinder Morgan, Aktie mit ISIN US49456B1017, dokumentarischer Infrastrukturbau im Gebirge, Illustration mit AI erstellt.

Melius Research initiated coverage of Kinder Morgan stock with a USD 38.00 target on September 22, 2026, according to MarketBeat. The call gives Kinder Morgan a fresh growth narrative, while the company is trading at EUR 29.15 at Lang & Schwarz on October 12, 2026 at 11:47 a.m. CEST.

Three milestones shape the story

Kinder Morgan's April 22, 2026 first-quarter filing described adjusted earnings per share of USD 0.48, up 41.00 percent from the prior year, and a project backlog of USD 10.10 billion, according to StockTitan.

On July 22, 2026, Kinder Morgan reported second-quarter revenue of USD 4.48 billion and net income of USD 867.00 million. Adjusted earnings per share reached USD 0.37, up 32.00 percent from the second quarter of 2025, while adjusted EBITDA rose 12.00 percent, according to Yahoo Finance.

The latest dated milestone was Kinder Morgan's September 30, 2026 Wolfe Research conference presentation. Management described a project opportunity set above USD 10.00 billion and said the balance sheet ended the second quarter at 3.60 times net debt to adjusted EBITDA, according to StockTitan.

What does the outlook mean for cash flow?

Management raised its 2026 ambition to adjusted EBITDA at least 5.00 percent above budget and adjusted earnings per share at least 11.00 percent above its original budget, according to Yahoo Finance. Operating cash flow reached USD 1.96 billion in the second quarter of 2026, giving the company a quantified funding base for expansion and dividends.

The dividend was declared at USD 0.2975 per share for the second quarter of 2026, equal to USD 1.19 on an annualized basis and 2.00 percent above the 2025 level. The contrast is important: growth projects are expanding, but the company is also measuring leverage against a 3.60-times level.

Next report arrives October 28

Kinder Morgan is scheduled to report its next results on October 28, 2026, after the close, according to Yahoo Finance. That report will test whether the second-quarter comparison of 10.80 percent revenue growth and 32.00 percent adjusted earnings per share growth is carrying into the next period.

Stock price and company profile

Kinder Morgan was trading at EUR 29.15 at Lang & Schwarz on October 12, 2026 at 11:47 a.m. CEST. The company is listed on the NYSE under ticker KMI, operates energy infrastructure, and reported a market capitalization of USD 72.3 billion at the October 9, 2026 close.

The further course of trading is shown by the continuously updated real-time quote of Kinder Morgan stock.