Kinder Morgan Sees Strong Q3 Momentum, RBC Says

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Kinder Morgan (KMI) enters Q3 with strong momentum driven by commodity price tailwinds and operational execution, RBC Capital Markets said in an earnings preview Tuesday.

The company is expected to report Q3 results on Oct. 21.

RBC said that in addition to the Western Gateway joint venture, Kinder Morgan could add an incremental $400 million of projects to its backlog in the near term.

The investment firm said that based on the change in WTI crude prices and its 2026 WTI price forecast of around $85 per barrel, it increased the company's carbon dioxide segment earnings before depreciation, depletion, and amortization forecasts by $27 million for Q3 and $104 million in 2026.

RBC maintained its sector perform rating on the stock and raised its price target to $36 per share from $35.

Price: 31.70, Change: -0.02, Percent Change: -0.08

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