Kinder Morgan's CEO Thinks Investors Are Overly Worried About This 1 Project
Shares of Kinder Morgan (NYSE: KMI) have fallen more than 13% this year. That decline comes despite the fact that the company's results have been right on target and it completed shoring up its balance sheet, which puts it in position to significantly increase cash returns to shareholders next year. Due to that drop, shares trade at a ridiculously cheap valuation these days.
That's because investors remain worried that the company's Canadian subsidiary Kinder Morgan Canada Limited (TSX: KML) won't be able to build its critical Trans Mountain Pipeline expansion, which is the largest project in either company's backlog. CEO Steve Kean addressed those fears during the company's most recent quarterly conference call, making three points that should help investors rest a bit easier.
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Source: Fool.com
Kinder Morgan Inc. Stock
Currently there is a rather positive sentiment for Kinder Morgan Inc. with 5 Buy predictions and 0 Sell predictions.
With a target price of 21 € there is a slightly positive potential of 6.67% for Kinder Morgan Inc. compared to the current price of 19.69 €.
