Goldman Sachs analyst John Mackay has maintained their bullish stance on KMI stock, giving a Buy rating on September 4.
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John Mackay has given his Buy rating due to a combination of factors that highlight Kinder Morgan’s potential for growth and value. Despite some challenges such as weaker RNG performance and modest gathering volume headwinds, the company continues to outperform in its core natural gas transmission and products business. Mackay believes that the market is not fully recognizing Kinder Morgan’s improved growth outlook, particularly in light of its year-to-date stock underperformance and its discounted valuation compared to peers like WMB and DTM.
Furthermore, Mackay anticipates that Kinder Morgan’s management will maintain a positive outlook on the gas market and emphasize the potential for new project additions in the coming quarters. Although the company might not announce major projects this quarter, the focus remains on future pipeline projects, especially after the recent setback with the Arizona project. Mackay expects the management to provide qualitative insights into their larger pre-FID backlog, reinforcing confidence in the company’s growth trajectory.
In another report released on September 4, Barclays also maintained a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock.