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Kinder Morgan cut to Hold at Argus as energy price outlook worsens

Sep. 10, 2019 2:39 PM ETKinder Morgan, Inc. (KMI) StockKMIBy: Carl Surran, SA News Editor41 Comments
  • Kinder Morgan (KMI -1.2%) is lower after Argus downgrades shares to Hold from Buy, citing the likelihood of restricted volume and capacity demand as prices for crude oil, natural gas and natural gas liquids trend lower.
  • "As a result, we see the potential for further reductions in KMI's adjusted EBITDA rate, which should lead to a lower earnings growth rate in the near-term," Argus analyst Bill Selesky writes.
  • Selesky says a Neutral rating for KMI is appropriate "until commodity markets begin to mount a sustainable rebound," even though he is confident in management's goal of reaching a $1.25/share dividend in 2020.
  • KMI's average Sell Side Rating is Outperform, while both the Seeking Alpha Authors Rating and Quant Rating are Bullish.

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