Why Kinder Morgan, Ambac Financial, and Sarepta Therapeutics Jumped Today
Stocks didn't move much on Thursday, and major benchmarks were narrowly mixed as earnings season kicked into full gear. Healthcare and utility stocks were generally higher, but the industrials and materials sectors held back gains in the overall market. On the economic front, a solid rise in the Leading Economic Index pointed to the potential for further growth in the U.S. economy in the coming months. Good news from individual stocks helped keep markets from losing much ground, and Kinder Morgan (NYSE: KMI), Ambac Financial (NASDAQ: AMBC), and Sarepta Therapeutics (NASDAQ: SRPT) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Kinder Morgan were up 4.5% after the company reported its second-quarter financial results. The energy giant posted roughly flat earnings for the quarter, with some weakness in its key natural gas pipeline segment. Yet Kinder Morgan said that it expects to boost its quarterly dividend by 60% in 2018 to $0.80 per share annually, and it hopes to make further increases of 25% per year in 2019 and 2020, paying $1 and $1.25 per share in those two years, respectively. The moves would push the company's yield back to 6%, restoring part of the severe cut from nearly $2 per share to $0.50 in late 2015. Investors were also pleased with planned stock buybacks, with hopes that Mr. Market will see the true value of Kinder Morgan shares going forward.
Image source: Kinder Morgan.
Source: Fool.com
Sarepta Therapeutics Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Sarepta Therapeutics stock is not clear.
As a result the target price of 130 € shows a slightly positive potential of 11.54% compared to the current price of 116.55 € for Sarepta Therapeutics.
