Why Kinder Morgan Stock Surged 55% in 2024

2024 was a tremendous year for Kinder Morgan (NYSE: KMI), with shares of the pipeline giant rebounding dramatically, gaining 55.3% in the year, according to data provided by S&P Global Market Intelligence. With those handsome gains, Kinder Morgan stock handily beat the S&P 500 (SNPINDEX: ^GSPC), which rallied around 23% in 2024.After a challenging 2023, Kinder Morgan expected a much stronger year ahead, driven by an acquisition and a growing backlog. With the company delivering strong numbers through 2024 and natural gas prices recovering in the second half, shares of Kinder Morgan continued to rally. The company is now about to make another acquisition, which should drive its earnings even higher in 2025.Kinder Morgan acquired NextEra Energy Partners' South Texas natural gas pipelines, or STX midstream, in December 2023 for $1.8 billion. Thanks to the acquisition, organic expansions, and lower costs, Kinder Morgan's earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 4%, while adjusted earnings per share (EPS) rose by 5% during the nine months ended Sept. 30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool