A Message From Behind the Markets
Fellow Investor,
Yesterday, the deadline hit.
The biggest energy deadline in American history...
And it's now aimed its full firepower at ONE company.
If you missed it, you're not too late.
Yet.
See, on July 4th, the One Big Beautiful Bill Act killed the federal tax credits that powered alternative energy for years.
But here's what almost nobody knows:
When the White House killed credits for solar, wind, EVs, and every other renewable energy source in America…
They left one untouched.
Not only that - they reclassified it alongside oil and nuclear...
And gave it eight years of credits.
Because in June 2025, a drilling crew working near the Grand Canyon...
Unearthed a well of clean energy producing almost 8 times the output of the largest oil well in Saudi Arabia...
Capable of powering civilization for two million years.
Right here on American soil.
Everything changed that day.
Google signed a 15-year contract...
Bill Gates wrote a $100 million check.
And on July 4th, the government handed this energy source its biggest advantage ever.
One company owns the entire chain.
Yesterday's deadline is behind us.
Now every day you wait, the "early investor" window gets smaller.
I recommend placing your trade before market closes.
Go here now for the Grand Canyon breakthrough ticker >>
"The Buck Stops Here,"
Dylan Jovine, CEO and Founder
Behind the Markets
Wednesday's Bonus Article
Why Kinder Morgan's Chairman Just Bought $15 Million in Stock
By Jeffrey Neal Johnson. Posted: 11/10/2026.
Key Points
- Executive Chairman Richard Kinder bought 500,000 Kinder Morgan shares worth about $15 million in early November, signaling confidence after a share price dip.
- Kinder Morgan's project backlog reached a record $14.4 billion, driven largely by natural gas infrastructure tied to AI data centers and electric utility demand.
- Approximately 96% of Kinder Morgan's 2026 segment earnings come from take-or-pay or fee-based contracts, supporting a dividend yield near 3.8% despite near-term capital spending pressures.
- Special Report: Why so many Americans are betting it all on red
When shares of Kinder Morgan, Inc. (NYSE: KMI) briefly dipped below $30 in early November, Executive Chairman Richard Kinder stepped into the open market to buy 500,000 shares for about $15 million. The opportunistic purchase came shortly after the pipeline operator released its third-quarter earnings results, which included roughly $5.4 billion in new projects.
As hyperscalers and electric utilities secure 20-year natural gas capacity for dedicated power turbines, the midstream provider's total project backlog has reached a record $14.4 billion. Long-term contracts support predictable cash flow, while an improved credit profile helps underpin a reliable dividend. Combined with this added insider conviction, Kinder Morgan's exposure to long-term power demand presents a compelling setup for investors.
Executive Conviction: Why Richard Kinder Bought $15 Million in KMI Stock
On Nov. 6, 2026, Kinder Morgan filed an updated investor presentation before the market opened.
Later that day, Richard Kinder executed his 500,000-share purchase at an average price of $29.99. The $15 million investment came as the stock touched a 50-day low of $29.98, pulling back from its late-October highs.
For investors evaluating the transaction, a discretionary open-market purchase of this size may signal Kinder's confidence in the company's long-term prospects, particularly after the recent share-price pullback.
The brief November pullback contrasted with Kinder Morgan's third-quarter operational performance. The company reported adjusted earnings of 35 cents per share, up 21% from a year earlier and above consensus estimates. Revenue grew 9.3% to $4.53 billion. Shares have since rebounded past $31, but the underlying narrative extends well beyond a single quarter's earnings beat.
AI Data Centers Drive Kinder Morgan's $14.4 Billion Backlog
The true driver of Kinder Morgan's long-term valuation is its rapidly expanding project pipeline.
During the third quarter, the company's sanctioned project backlog increased by a net $4.7 billion, from about $9.6 billion to a record $14.4 billion. Natural gas infrastructure accounts for roughly $13.2 billion, or 92%, of the total backlog.
Two major joint venture projects anchored the recent $5.4 billion in gross additions. First, the Permian Link project secured an A-rated hyperscaler counterparty to supply natural gas for AI data center power generation. Second, the Southeast Connector project is designed to serve electric utility load growth in the Southeastern United States. Management noted that large-load electric interconnection requests across the Southeast now exceed 200 gigawatts, potentially translating into demand for approximately 8 billion cubic feet per day of natural gas.
Both projects are backed by minimum 20-year take-or-pay contracts and are scheduled to enter service between 2030 and 2032. Management estimates an attractive 5.7x EBITDA build multiple across approximately $13.7 billion of the backlog, meaning these capital investments are expected to generate highly predictable returns once operational. Kinder Morgan is also advancing other major conduits, including the South System Expansion Four, Mississippi Crossing and the Trident intrastate pipeline, extending earnings visibility well into the next decade.
How Kinder Morgan's Contracts Support Its Dividend
One of the primary reasons investors allocate capital to midstream energy companies is to secure reliable income that is insulated from commodity-price volatility.
Kinder Morgan currently offers a quarterly dividend of just under 30 cents per share, or $1.19 annualized, translating to a forward yield near 3.8%.
The structural safety of this dividend rests heavily on how the company earns its revenue.
Approximately 96% of Kinder Morgan's budgeted 2026 segment earnings come from take-or-pay contracts, fee-based arrangements or hedged activities, with 65% derived from strict take-or-pay contracts.
Under a take-or-pay arrangement, customers pay fixed reservation fees for pipeline capacity whether or not they actually transport gas.
Within the core natural gas pipelines segment, 88% of transportation and storage cash flows were derived from take-or-pay contracts under the company's 2025 budget. Natural gas transportation contracts had an average remaining term of approximately seven years at year-end 2025.
Beyond natural gas, the company is diversifying its fee-based revenue streams. In August, Kinder Morgan reached a final investment decision alongside Phillips 66 (NYSE: PSX) and HF Sinclair Corporation (NYSE: DINO) to develop the Western Gateway refined products pipeline, using existing assets to minimize upfront capital requirements.
Financially, Kinder Morgan's balance sheet appears well-positioned to support both the dividend and the infrastructure buildout. S&P Global Ratings and Fitch rate the company's senior unsecured debt BBB+, while Moody's assigns a Baa1 rating. These investment-grade ratings help Kinder Morgan maintain access to financing at competitive rates.
While Kinder Morgan's yield is slightly lower than those of some midstream peers, such as ONEOK, Inc. (NYSE: OKE), which yields closer to 4.9%, and the master limited partnership Enterprise Products Partners L.P. (NYSE: EPD), which yields just over 6%, Kinder Morgan's traditional corporate structure and growing natural gas infrastructure investments offer a distinct blend of income and growth potential.
Pipeline Construction Costs and Earnings Risks Remain
While the long-term narrative appears solid, investors should weigh near-term headwinds. Building major pipeline infrastructure requires substantial upfront capital.
In the third quarter, Kinder Morgan spent about $1.05 billion on capital expenditures, resulting in a $120 million free cash flow deficit after dividends.
However, free cash flow after dividends remained positive at $226 million for the first nine months of 2026.
Because anchor projects such as Permian Link will not enter commercial service until the early 2030s, investors face a multiyear gap between when capital is spent and when the resulting cash flow is realized.
Elevated industry demand for natural gas turbines and pipeline compression equipment is tightening supply chains and could pressure construction timelines. Investors should also note that Kinder Morgan's strong 2026 earnings performance includes roughly $225 million from nonrecurring items, such as favorable weather and wider pricing spreads, which should eventually normalize.
Despite these operational hurdles, internal corporate sentiment remains highly constructive. While a few vice presidents have small, routine stock-selling programs, Richard Kinder's $15 million purchase stands out. Over the past year, insider purchases have outpaced sales by more than five to one in dollar value.
The consensus rating is a Moderate Buy, with an average price target near $37.15, suggesting double-digit upside from current levels.
What Richard Kinder's Insider Buy Means for Long-Term Investors
The shift toward artificial intelligence and the expansion of the broader electrical grid will require reliable baseload power. Natural gas remains one of the most viable fuel sources for meeting this rapidly growing demand.
Kinder Morgan operates a vast network that currently moves roughly 40% of all U.S. natural gas production, positioning it as a primary beneficiary of the ongoing infrastructure buildout. Income-focused investors may want to add Kinder Morgan to their watchlist as the company continues to convert data center and utility demand into long-term, fee-based cash flow.
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