RBC Capital Increases Price Target on Kinder Morgan, Inc. (KMI)

Kinder Morgan, Inc. (NYSE:KMI) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

On February 27, Elvira Scotto from RBC Capital increased the firm’s price target on Kinder Morgan, Inc. (NYSE:KMI) from $30 to $32. The analyst reaffirmed her Sector Perform rating on the stock.

Scotto reflected on a $10B growth project backlog for Kinder Morgan, Inc. (NYSE:KMI). She believes it offers strong visibility into the company’s cash flow growth over many years to come. Moreover, she also anticipates upside potential for the stock stemming from the shadow backlog.

As of the close of play on February 27, consensus sentiment around Kinder Morgan, Inc. (NYSE:KMI) remained moderately bullish. The stock received coverage from 8 analysts, 5 of whom assigned Buy ratings and 3 gave Hold calls. With no Sell rating, it has a projected median 1-year price target of $32.14.

Kinder Morgan, Inc. (NYSE:KMI) is an energy infrastructure company that operates natural gas storage and gathering systems, along with processing and treating facilities. It also manages interstate and intrastate natural gas pipelines and terminals. The company specializes in natural gas, crude oil, refined products, and CO2.

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