In addition to natural gas, Kinder Morgan is also the largest independent transporter of refined petroleum products, independent terminal operator, and carbon dioxide transporter. The company transports oil, renewable natural gas (RNG), and LNG.Kinder Morgan's leading natural gas infrastructure business generates very stable cash flow. Overall, 89% comes from take-or-pay contracts, other fee-based arrangements, or hedges, which have allowed it to generate substantive recurring cash flows for investors.Kinder Morgan allocates its cash flow toward paying a , repurchasing shares, and expanding its natural gas network through capital projects and acquisitions.Acquisitions have become a notable growth driver, as well. Kinder Morgan made two substantial deals in 2021. The company bought Stagecoach Gas Services, a pipeline and storage network in the Northeast, for $1.22 billion. It also bought Kinetrex Energy, an RNG producer, for $310 million. And in 2022, it acquired North American Natural Resources, an RNG facilities company, for $135 million. In 2023, it bought NextEra Energy Partners' South Texas assets (STX Midstream) for $1.82 billion to add pipeline system assets.Kinder Morgan's energy transition ventures business unit (launched in 2021) aims to identify, analyze, and pursue commercial opportunities as the energy sector transitions to lower-carbon fuel sources. Kinder Morgan's extensive natural gas infrastructure footprint makes it potentially suited to store and transport lower-carbon fuel sources such as RNG and , positioning it for the future of energy., These natural gas investments offer exposure to the main bridge fuel of the energy transition., Learn how to pick the right natural gas investments. In their rise as an alternative to oil, natural gas stocks have made millionaires & demand continues to grow..