Kinder Morgan Recovers after 7 Weeks of Decline

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Kinder Morgan Recovers after 7 Weeks of Decline PART 1 OF 2

Kinder Morgan Rose 1.4% Last Week

Kinder Morgan rises 1.4%

After seven consecutive weeks of decline, Kinder Morgan (KMI) gained 1.4% in the week ended March 9, 2018. In comparison, the Energy Select Sector SPDR ETF (XLE) rose 2.2% and the Alerian MLP ETF (AMLP) rose 0.6%. Crude oil rose 1.3%. For more about what’s driven crude oil prices, read Record Crude Oil Production and Inventories Pressure Oil Futures.

Kinder Morgan Rose 1.4% Last Week

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The above graph compares Kinder Morgan’s stock with peers and sector ETFs last week. Enterprise Products Partners (EPD) rose 2.9% and ONEOK (OKE) rose 0.4%.

Kinder Morgan is trading 8% below its 50-day moving average and 12% below its 200-day moving average. The stock has fallen 10% year-to-date.

Of Reuters-surveyed analysts covering Kinder Morgan, 45% have recommended “hold” and 55% have recommended “buy.” Kinder Morgan’s consensus target price of $22 implies a 35% return based on its current price of $16.33. In comparison, 96% and 47% of surveyed analysts recommended “buy” for Enterprise Products Partners and ONEOK, respectively.

Protest against Trans Mountain expansion

According to an Associated Press report on March 11, 2018, thousands of protestors marched against Kinder Morgan’s Trans Mountain expansion project in Burnaby, Canada, on March 10. The project, which is owned by Kinder Morgan Canada (KML.TO), faces stiff opposition from environmentalists and some native groups. To learn more about the project, read Kinder Morgan’s Trans-Mountain Expansion Project’s Woes Continue. Let’s take a look at short interest in Kinder Morgan stock next.


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