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Kinder Morgan Inc.

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Kinder Morgan has the largest network of natural gas pipeline in North America that spreads over almost 70,000 miles. Most importantly, the company’s midstream properties are linked to all the prospective plays in the United States that are rich in natural gas. These extensive pipeline networks, for which billions of dollars have been invested to date, have been providing Kinder Morgan with stable fee-based revenues. In fact, the company generated majority of its cash flow in 2017 from stable fee-based contracts. However, the company’s total debt now stands higher than equity capital, reflecting balance sheet weakness. Moreover, one-year pricing chart shows that Kinder Morgan underperformed the industry. During the aforesaid period, the stock lost 24.7% against the 13.6% decline of the broader industry.

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