Abdul Rahman
1 min read
In This Article:
Kinder Morgan, Inc. (NYSE:KMI) is one of Goldman Sachs’ top energy stock picks. On June 16, UBS reiterated a ‘Buy’ rating and a $38 price target on the stock. The bullish stance is in response to the proposed expansion of Arizona projects expected to increase the company’s project backlog.
An energy executive observing a wind turbine farm from a remote location.
UBS is optimistic that Kinder Morgan will be one of the beneficiaries of the Arizona Corporation Commission’s expansion of natural gas infrastructure in the state. The expansion will result in substantial demand for gas transportation to the state and the Desert Southwest region, driven by industrial use, population growth, and coal plant retirement.
Kinder Morgan has already proposed the Cooper State Connector Project and Arizona Storage projects. The projects are poised to add 0.5Bcf/d of incremental load, supporting the need for expanded infrastructure. Additionally, the company’s strong financial position and track record of raising dividends position it to take advantage of expansion opportunities.
Kinder Morgan, Inc. (NYSE:KMI) is one of the largest energy infrastructure companies in the world. It owns and operates pipelines that transport natural gas, gasoline, crude oil, and other products, as well as terminals that store and handle various commodities.
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Disclosure: None.
