Kinder Morgan (KMI) vs Plains All American Pipeline L.P. (PAA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Plains All American Pipeline L.P. (PAA) has outperformed Kinder Morgan (KMI) over the past year, gaining 48.5% versus a gain of 14.6%. Over five years, PAA leads with a +120.0% price change compared with +74.7% for KMI. Kinder Morgan is the larger company by market cap ($72.35 billion vs $17.17 billion), about 4.2 times the size.
On valuation, Plains All American Pipeline L.P. trades at a lower forward P/E (12.7x vs 21.0x for Kinder Morgan). Plains All American Pipeline L.P. offers the higher dividend yield (6.71% vs 3.63%). Kinder Morgan converts more of its revenue into profit, with a net margin of 18.0% versus 3.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | KMI | PAA |
|---|---|---|
| Share price | $32.49 | $24.34 |
| Market cap | $72.35B | $17.17B |
| 1-day change | +0.74% | -0.33% |
| YTD return | +17.32% | +35.97% |
| 1-year return | +14.61% | +48.54% |
| 5-year return | +74.70% | +120.00% |
| P/E ratio (TTM) | 20.96 | 20.98 |
| Forward P/E | 21.04 | 12.66 |
| EPS (TTM) | $1.55 | $1.16 |
| Dividend yield | 3.63% | 6.71% |
| Annual dividend | $1.18 | $1.63 |
| Revenue (latest FY) | $16.94B | $44.26B |
| Revenue growth (YoY) | +12.17% | -9.46% |
| Net income (latest FY) | $3.06B | $1.44B |
| Gross margin | 67.36% | 8.65% |
| Operating margin | 27.89% | 3.24% |
| Net margin | 18.04% | 3.24% |
| 52-week high | $34.81 | $26.39 |
| 52-week low | $25.60 | $15.69 |
| Distance from 52-week high | -6.66% | -7.77% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +11.08% | +7.35% |
| Average volume | 11.25M | 2.52M |
| Shares outstanding | 2.23B | 705.57M |
| Employees | 11,028 | 3,900 |
| Sector | Utilities | Energy |
| Industry | Natural Gas Distribution | Natural Gas Distribution |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Kinder Morgan is about 4.2 times larger than Plains All American Pipeline L.P. by market value ($72.35B vs $17.17B).
- PAA has outperformed KMI by 33.9 percentage points over the past year.
- Plains All American Pipeline L.P. offers a meaningfully higher dividend yield (6.71% vs 3.63%).
- Kinder Morgan is more profitable, keeping 18.0 cents of every revenue dollar as net income versus 3.2 cents for Plains All American Pipeline L.P..
- Kinder Morgan grew revenue faster in its latest fiscal year (+12.17% vs -9.46%).
- The two companies sit in different sectors: Kinder Morgan in Utilities and Plains All American Pipeline L.P. in Energy.
About Kinder Morgan
KMI stock →Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America.
Utilities · Natural Gas Distribution · 11,028 employees
About Plains All American Pipeline L.P.
PAA stock →Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL.
Energy · Natural Gas Distribution · 3,900 employees
KMI vs PAA FAQ
Which is bigger, Kinder Morgan or Plains All American Pipeline L.P.?
Kinder Morgan (KMI) is larger, with a market capitalization of $72.35B compared with $17.17B for Plains All American Pipeline L.P. (PAA).
Which stock has performed better over the past year, KMI or PAA?
PAA returned +48.54% over the past 12 months, compared with +14.61% for KMI (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, KMI or PAA?
KMI has the lower trailing P/E at 21.0, versus 21.0 for PAA. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Kinder Morgan or Plains All American Pipeline L.P.?
Plains All American Pipeline L.P. has the higher yield at 6.71%, compared with 3.63% for Kinder Morgan.
Are Kinder Morgan and Plains All American Pipeline L.P. in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Utilities sector.