BUZZ-Targa Resources more than doubles; U.S. pipeline operators rise in 2024

Shares of several U.S. oil and gas transportation firms rose in 2024 with Alerian Midstream Energy Index .AMNA gaining ~36% YTD

Gains in midstream firms were fueled by hopes of growing electric generation associated with artificial intelligence operations, cryptocurrency mining and data centers

Pipeline operators Targa Resources TRGP.N rose ~104% YTD and DT Midstream was up ~83% YTD, its highest jump in a year

Williams Companies WMB.N up ~55% YTD

"We executed a precedent agreement on another expansion to the Transco Dalton Lateral driven by load growth from data center demand and industrial re-shoring in the Atlanta area," CEO of Williams Companies, Alan Armstrong, said in November

Kinder Morgan KMI.N also climbed 55% YTD

"Data center demand has skyrocketed," KMI CEO Kimberly Dang said in October. The overall gas market could grow by 25 billion cubic feet per day over the next five years, she added

ONEOK OKE.N was up 43% YTD, as the company expanded its asset base with multiple acquisitions in the year

(Reporting by Tanay Dhumal in Bengaluru)

((Tanay.Dhumal@thomsonreuters.com;
Twitter: https://twitter.com/TanayDhumal))