Citi analyst Spiro Dounis initiated coverage of Kinder Morgan with a Neutral rating and $19 price target. The analyst launched coverage of 23 midstream stocks with a "constructive cash flow outlook" but acknowledges the "need to be selective in this environment." The sector offers a "compelling combination of growth and yield," Dounis tells investors in a research note. His top picks are Enterprise Products Partners LP (EPD), Targa Resources (TRGP) and Cheniere Energy (LNG). Dounis says that with leverage and capital spending "down substantially," the midstream sector has "arguably never been better prepared for macro headwinds."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on KMI:
- Kinder Morgan sees FY23 EPS $1.12, consensus $1.11
- Soros Fund Management buys Sierra Wireless, exits Kinder Morgan in Q3
- Freeport LNG will likely cancel shipments through December, Bloomberg says
- Here are 2 Midstream Energy Stocks to Consider Buying
- Here are Kinder Morgan’s (NYSE:KMI) Q3 Earnings Results