Kinder Morgan (NYSE: KMI) is one of the largest energy infrastructure companies in North America, with a natural gas pipeline network spanning nearly 70,000 miles and moving as much as 40% of the total natural gas production in the U.S.

Kinder Morgan is also the largest independent transporter of refined products in the U.S. Its foothold in the midstream oil and gas industry, coupled with steady and growing dividends, has made the company a popular stock among oil investors over the years.

Yet given how Kinder Morgan stock has underperformed the overall market in recent years, some investors are at odds with the company's prospects. So is Kinder Morgan stock worth buying or avoiding? Here's the bull and bear arguments to help you decide.

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Source Fool.com