SWN - Kinder Morgan's Stock Pullback Creates A Strong Buying Opportunity
2024-01-24 01:59:34 ET
Summary
- Kinder Morgan closed out FY23 with mixed results but remained resilient in managing operations and investing in growth projects.
- The company experienced strength in natural gas transport and saw an uptick in renewable diesel volumes.
- KMI plans to establish itself in the energy transition and increase capacity for renewable natural gas, renewable diesel, and expand its footprint in the LNG export markets.
Kinder Morgan ( KMI ) closed out FY23 with mixed results. Between sliding revenue due to the soft commodities market and strengthening EBITDA margins, the firm has remained resilient in both managing operations and investing in growth projects and asset acquisition. I believe the runway for Kinder Morgan is strong as the firm bolsters its Texas intrastate assets, its renewable natural gas and renewable diesel assets, and increases its capacity to service the growing LNG export capacity. I recommend KMI with a BUY recommendation with a price target of $18/share, or 8x FY24 DCF....
Kinder Morgan's Stock Pullback Creates A Strong Buying Opportunity