RBC Raises Price Target on Kinder Morgan to $38 From $36
RBC Capital Markets has increased its price target for Kinder Morgan, Inc. from $36 to $38 while maintaining a Sector Perform rating.
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RBC Capital Markets has increased its price target for Kinder Morgan, Inc. from $36 to $38 while maintaining a Sector Perform rating.
Kinder Morgan reported strong Q3 earnings with a record $14.4 billion project backlog, including $13.2 billion in natural gas expansion projects. The company raised its dividend by 2% and saw EPS grow 21% year-over-year. Long-term take-or-pay contracts with creditworthy counterparties are expected to generate approximately $2.5 billion in additional adjusted EBITDA, potentially increasing the company's base EBITDA by at least 37% by 2025.
Morgan Stanley has increased its price target for Kinder Morgan, Inc. to $40 from $38.
Scotiabank has increased its price target for Kinder Morgan, Inc. to $34 from $32.