Kinder Morgan (NYSE:KMI) shares rose 1% intra-day today after UBS analysts increased their price target for the company to $24 from $22 while maintaining a Buy rating.
The analysts highlighted several key factors expected to influence investor sentiment, including confidence in the 2024 EBITDA midpoint of $8.16 billion, concerns about capital expenditure increases, regulatory risks associated with the Good Neighbor Plan, and capital allocation priorities.
Looking forward, the analysts believe Kinder Morgan is well-positioned for multi-year growth, driven by opportunities in new natural gas long-haul projects, LNG supply, storage, and data centers. Investors will seek clarity on the assumptions underlying the company’s guidance midpoint during upcoming earnings calls, with particular focus on the detailed sensitivities around the Q1 earnings and annual EBITDA budget presented during the Investor Day.