• On January 16, 2026, Phillips 66 and Kinder Morgan announced a second open season for the proposed Western Gateway Pipeline, adding new origin points and access to the Los Angeles market via reversals of existing Kinder Morgan lines in California.

• This expansion of the Western Gateway concept strengthens Kinder Morgan’s role as a key connector between midcontinent refineries and high-demand markets in Arizona, Nevada, and California.

• Next, we’ll examine how this expanded pipeline connectivity to Los Angeles shapes Kinder Morgan’s investment narrative for long-term infrastructure exposure.

The end of cancer? These 29 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer’s.

To own Kinder Morgan today, you have to believe in the durability of its fee-based energy infrastructure and the company’s discipline in turning that asset base into steady cash flows and dividends, even with only modest forecast growth. The new Western Gateway open season, with extended access into Los Angeles and added origin points, fits that story as a potential incremental volume driver, but it is unlikely to change the near term picture on its own. The bigger immediate catalysts still sit around how efficiently Kinder Morgan funds its project backlog, manages interest costs given that coverage is not especially comfortable, and maintains dividend growth despite only moderate revenue expansion. The Western Gateway news slightly tilts risks toward execution and regulatory delivery on a more complex multi-pipeline system.

However, investors should be aware that Kinder Morgan’s dividend is not well covered by earnings and cash flows. Kinder Morgan’s shares have been on the rise but are still potentially undervalued by 36%. Find out what it’s worth.

Three Simply Wall St Community fair value views span roughly US$31 to over US$43 per share, reflecting very different expectations. Set those against Kinder Morgan’s rising project execution risk around Western Gateway and consider how outcomes could influence future cash generation.

Explore 3 other fair value estimates on Kinder Morgan – why the stock might be worth as much as 57% more than the current price!

Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.

• A great starting point for your Kinder Morgan research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

• Our free Kinder Morgan research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate Kinder Morgan’s overall financial health at a glance.