KMI
Kinder Morgan Inc
NYSE: KMI · ENERGY · OIL & GAS MIDSTREAM
$31.94
+1.85% today
Updated 2026-06-12
Market cap
$69.95B
P/E ratio
21.10
P/S ratio
3.99x
EPS (TTM)
$1.49
Dividend yield
3.81%
52W range
$25 – $35
Volume
11.5M
Kinder Morgan Inc (KMI) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed KMI price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$31.94
Today
Analyst consensus
$33.81
+5.85% · 12M
2030 Base
—
— future
NPV today
—
@ — WACC
22 analysts:
6 Buy10 Hold0 Sell
Management guidance
Kinder Morgan management has guided to 2026 financial expectations with strong natural gas demand tailwinds. The company added $900M in new gas projects to its backlog as of March 2026, supporting future revenue growth. CEO guidance emphasizes fee-based revenue stability and capital project execution through 2030, though specific revenue targets for outer years were not disclosed in available materials.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
KMI · Kinder Morgan Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
—
NPV today: —
Base case (2030)
—
NPV today: —
Bull case (2030)
—
NPV today: —
WallStSmart.com
KMI financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $16.9B | $17.9B | $18.7B | $19.4B | $20.2B | $21.0B |
| Revenue growth | 12.5% | 5.4% | 4.5% | 4.0% | 3.9% | 4.1% |
| Net margin | — | — | — | — | — | — |
| EPS | $1.28 | $1.38 | $1.49 | $1.58 | $1.68 | $1.78 |
| Diluted shares | — | — | — | — | — | — |
| Net debt | — | — | — | — | — | — |
| P/S multiple | — | 2.0x | 2.0x | 2.0x | 2.0x | 2.0x |
| Implied price (base) | — | $95.61 | $102.21 | $105.50 | $108.80 | $112.10 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $21.0B | $21.0B | $21.0B |
| P/S multiple | 1.0x | 2.0x | 4.0x |
| Diluted shares | 0M | 0M | 0M |
| Net debt | — | — | — |
| Implied P/E † | — | — | — |
| 2030 Price | $— | $— | $— |
| NPV @ — | $— | $— | $— |
† Implied P/E: Multiples remain elevated across all three scenarios because KMI is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $— base case
KMI catalysts and risks
Growth catalysts
+ Western Gateway Pipeline expansion (extended open season indicates strong shipper demand for refined products capacity into LA market)
+ Natural gas demand surge from AI data centers, industrial electrification, and LNG export growth (Qatar-Exxon Golden Pass LNG started production Q1 2026)
+ Contracted backlog expansion ($900M new projects added Q1 2026; fee-based revenue model provides revenue visibility)
+ Rising natural gas utilization from Arctic cold weather patterns and winter energy demand
+ Dividend growth continuation (27 consecutive years of increases among peers indicates sector sustainability)
Key risks
- Regulatory headwinds on pipeline permitting (Western Gateway extension indicates execution risk, though shipper interest is strong)
- Commodity price volatility affecting throughput volumes (though fee-based contracts mitigate this)
- Interest rate sensitivity (debt-to-equity of 1.03; rising rates could pressure returns)
- Long-term energy transition risk (LNG exports and natural gas growth may face headwinds post-2030 from renewable acceleration)
- Macroeconomic slowdown impacting industrial and petrochemical demand
Methodology · Kinder Morgan Inc 2030 stock forecast model
Kinder Morgan Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 22 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (-100% cumulative for KMI by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory (— by 2030) |
| 3. Time value | NPV calculated using — WACC (sector fallback) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 2.0x / bull 4.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.
KMI price target FAQ
How is the Kinder Morgan Inc 2030 stock forecast calculated?
The KMI 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
What is the analyst consensus on KMI stock?
22 analysts cover KMI with an average 12-month price target of $33.81. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.