Kinder Morgan Crushed the S&P 500 in 2024. Can the High-Yielding Pipeline Giant Produce High-Octane Total Returns Again in 2025?
Shares of Kinder Morgan (NYSE: KMI) broke out in 2024. The natural gas pipeline giant had rallied more than 50% heading into the last few trading days of the year. Add in its high-yielding dividend (currently above 4% after its rally), and the total return is over 60%. That has absolutely crushed the S&P 500Â index, which has delivered a total return approaching 30%.
Here’s what powered the pipeline stock‘s monster rally in 2024 and whether it has the fuel to continue outperforming in 2025.
Kinder Morgan had been in a rut in recent years. In 2023, the natural gas pipeline giant produced $7.5 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). That’s the same level as 2018 after adjusting for the impact of asset sales.
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