Stifel Downgrades Kinder Morgan (KMI) to Hold

June 15, 2021 5:04 PM EDT
Get Alerts KMI Hot Sheet
Price: $16.53 +0.24%

Rating Summary:
    6 Buy, 20 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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Stifel analyst Selman Akyol downgraded Kinder Morgan (NYSE: KMI) from Buy to Hold with a price target of $18.00.

The analyst commented, "At this time, we are lowering our rating for KMI to Hold from Buy. Our rating change is driven by KMI’s share price exceeding our target price. Currently, KMI is trading at 11.2x our FY22 EBITDA estimate of $6.9 billion compared to our target multiple of 11.0x. We continue to favor KMI’s diverse assets, natural gas footprint and the potential for possible ESG initiatives through its CO2 segment. That said, KMI's shares have increased by ~40% YTD, and we view the stock as fairly valued."

For an analyst ratings summary and ratings history on Kinder Morgan click here. For more ratings news on Kinder Morgan click here.

Shares of Kinder Morgan closed at $18.84 yesterday.

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