Kinder Morgan (KMI +2.31%) is a leader in operating energy infrastructure in North America. It controls the nation’s largest natural gas transmission network, which moves 40% of the natural gas produced in the U.S. As of mid-2026, it had 78,000 miles of natural gas pipelines and 706 billion cubic feet of storage capacity — about 15% of U.S. storage capacity. Kinder Morgan’s infrastructure connects every major natural gas resource play to key demand centers.
In addition to natural gas, Kinder Morgan is also the largest independent transporter of refined petroleum products, an independent terminal operator, and a carbon dioxide transporter. The company transports oil, renewable natural gas (RNG), and LNG.
Kinder Morgan’s leading natural gas infrastructure business generates a very stable cash flow. Overall, 96% of its cash flow comes from take-or-pay contracts, other fee-based arrangements, and hedges, which have enabled it to generate substantial, recurring cash flows for investors.
Kinder Morgan allocates its cash flow toward paying a high-yielding dividend, repurchasing shares, and expanding its natural gas network through capital projects and acquisitions. A string of acquisitions has added pipeline and storage capacity in recent years. In addition, Kinder Morgan has expanded its gas gathering and processing capability.
Kinder Morgan’s extensive natural gas infrastructure makes it well-suited to store and transport lower-carbon fuel sources such as RNG and hydrogen, positioning it for the future of energy. In addition, it has a $9.6 billion project backlog to build out gas infrastructure to meet power demand.
