Kinder Morgan (KMI) Gets Target Boost from Morgan Stanley; RBC Also Lifts Forecast

Kinder Morgan, Inc. (NYSE:KMI) is included among the 14 Best Dividend Stocks to Invest in Under $50.

On March 3, Morgan Stanley analyst Devin McDermott raised the firm’s price recommendation on Kinder Morgan, Inc. (NYSE:KMI) to $36 from $34. The analyst reiterated an Equal Weight rating on the shares. The analyst said the firm remains cautious about the risk of a near-term pullback in midstream equities. At the same time, he noted that recent US military action in Iran has widened the range of possible outcomes for global oil and gas markets.

A few days earlier, on February 27, RBC Capital analyst Elvira Scotto also raised the price objective on Kinder Morgan. She increased the target to $32 from $30 while maintaining a Sector Perform rating. Scotto said the company’s $10B backlog of growth projects offers visibility into cash flow expansion over the next several years. She also pointed to what she described as a “shadow backlog,” which could provide additional upside beyond the current project pipeline. We have recently added KMI in 11 Best Spring Stocks to Buy Right Now.

Kinder Morgan, Inc. (NYSE:KMI) operates as an energy infrastructure company. The company owns interests in, or operates, about 79,000 miles of pipelines and 139 terminals.

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