Kinder Morgan Energy Partners LP Receives “Neutral” Rating from Zacks (KMP)
Kinder Morgan Energy Partners LP (NYSE:KMP)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday, Stock Ratings Network.com reports. They currently have a $87.00 price target on the stock. Zacks‘ price objective indicates a potential upside of 5.28% from the stock’s previous close.
Zacks‘ analyst wrote, “Kinder Morgan Energy Partners is a premier MLP, with an impressive track record of distribution growth and financial discipline. The partnership raised its distribution by 5% year over year to $1.36 per unit ($5.44 annualized) for the fourth quarter. Kinder Morgan has invested a significant amount in a number of projects that should help drive growth in the coming years. We also like the partnership’s focus on stable, fee-based, well-diversified assets and its strong balance sheet. Going forward we expect the partnership to seize attractive investment opportunities in the near term, particularly in the Eagle Ford and Haynesville shale plays. However, the partnership remains vulnerable to macro conditions, unstable oil & gas prices and interest rate fluctuations. Therefore, we see limited upside potential and are sticking with our market Neutral recommendation.”
A number of other firms have also recently commented on KMP. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Kinder Morgan Energy Partners LP in a research note to investors on Thursday, January 16th. They now have a $90.00 price target on the stock. Separately, analysts at Morgan Stanley downgraded shares of Kinder Morgan Energy Partners LP from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday, January 8th. Finally, analysts at Simmons upgraded shares of Kinder Morgan Energy Partners LP from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $75.80.
Shares of Kinder Morgan Energy Partners LP (NYSE:KMP) traded down 0.24% during mid-day trading on Friday, hitting $82.438. 709,763 shares of the company’s stock traded hands. Kinder Morgan Energy Partners LP has a 52-week low of $77.13 and a 52-week high of $92.99. The stock’s 50-day moving average is $80.02 and its 200-day moving average is $81.52. The company has a market cap of $36.093 billion and a P/E ratio of 22.78.
Kinder Morgan Energy Partners LP (NYSE:KMP) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Analysts expect that Kinder Morgan Energy Partners LP will post $2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of 1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Wednesday, January 29th. This is a positive change from Kinder Morgan Energy Partners LP’s previous quarterly dividend of $1.35.
Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a pipeline transportation and energy storage company in North America.
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