Should You Buy Kinder Morgan Stock After Its Epic 50%+ Rally?

Kinder Morgan (NYSE: KMI) had been in a rut for the past several years. The natural gas pipeline giant's earnings barely budged as contract expirations offset the benefit of expansion projects. As a result, its stock price had flatlined at around $18 per share since the middle of 2021.However, that has all changed this year. Kinder Morgan's stock has skyrocketed, surging more than 50% so far this year, adding about $10 to the share price. Here's a look at what fueled that rally and whether investors should still buy the pipeline stock.Kinder Morgan generated $7.5 billion in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) last year. That was the same level as 2022. It was also on par with 2018's level after adding back $500 million of earnings from asset sales. In other words, Kinder Morgan's earnings hadn't grown for five years. The main culprit was large contract expirations on some major pipeline systems. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool