Keep an eye on Kinder Morgan (SYM: KMI) as another beneficiary of the artificial intelligence data center demand boom.
For one, skyrocketing electricity loads will need another energy source if renewables cannot generate enough power, says CNBC. That other energy source is natural gas, which could provide about 60% of the power demand growth from AI and data centers, they added.
“As much as 8.5 billion cubic feet per day of natural gas could be required additionally to match the rise in demand,” says Tudor Pickering, as noted by Reuters.
Even better, while we wait for further upside in the Kinder Morgan stock, we can always sit back and collect its current yield of 5.85%. Analysts at Wells Fargo also just upgraded KMI to an overweight rating with a price target of $22.
