Kinder Morgan (KMI) Gets Positive Analyst Updates After Q4 Results

Kinder Morgan, Inc. (NYSE:KMI) is one of the 12 Best Oil and Gas Stocks to Buy Right Now. On January 28, Freedom Capital Markets upgraded its rating from Sell to Hold on Kinder Morgan, Inc. (NYSE:KMI) with a price target of $32.

This update comes after the company reported solid Q4 results, which beat market expectations for adjusted EPS estimates by 8.3%, as noted by Freedom Capital Markets analyst Sergey Pigarev. The research firm pointed out that Kinder Morgan, Inc. (NYSE:KMI) reduced its net debt to improve its debt profile and received upgrades to its credit ratings. Freedom Capital Markets expects the company to have a solid Q1, but it believes the stock is now trading close to its fair value, which leaves limited room for further upside.

Earlier, on January 23, Scotiabank increased its price target on Kinder Morgan, Inc. (NYSE:KMI) from $29 to $30 and kept its Sector Perform rating.

Scotiabank highlighted that Kinder Morgan, Inc.’s (NYSE:KMI) sanctioned project backlog has now grown to about $10 billion, with the company pursuing another $10 billion in potential opportunities. The company saw another quarter of sequential growth in its net backlog.

Kinder Morgan, Inc. (NYSE:KMI) is one of the largest energy infrastructure companies in North America. It owns and operates pipelines and terminals that transport natural gas, gasoline, crude oil, and other products.

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Disclosure: None. This article is originally published at Insider Monkey.