Kinder Morgan downgraded to Hold from Buy at Truist

Truist downgraded Kinder Morgan to Hold from Buy with a price target of $20, down from $22. The company’s leading natural gas operations historically has caused the stock to trade at a premium but peers have done a good job of closing the gap, resulting in what could be a lesser premium going forward, the analyst tells investors in a research note. While the firm forecasts growth out of the Kinder Morgan’s natural has segment, it anticipates limited products pipeline, yerminals, and CO2 segments growth and a more in-line trading multiple. It cites valuation for the downgrade.