Truist analyst Neal Dingmann raised the firm’s price target on Kinder Morgan to $25 from $22 and keeps a Hold rating on the shares after its Q3 results. The company continued to highlight the material potential for natural gas growth driven by LNG, exports to Mexico, power, and industrial usage, with higher y/y EBITDA driven by natural gas pipelines, terminal pipelines, and CO2 segments, the analyst tells investors in a research note. Kinder Morgan reported slightly lower gathering volumes, but the downside is likely to be short lived given the higher production volumes needed to meet LNG growth, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KMI:
- Kinder Morgan reinstated with a Buy at BofA
- Kinder Morgan price target raised to $27 from $22 at Wells Fargo
- Closing Bell Movers: Alcoa up 6%, Steel Dynamics up 3% after Q3 results
- KMI Earnings: Kinder Morgan Misses Top and Bottom-Line Q3 Expectations
- Kinder Morgan reports Q3 adjusted EPS 25c, consensus 27c