Truist analyst Neal Dingmann raised the firm’s price target on Kinder Morgan to $25 from $22 and keeps a Hold rating on the shares after its Q3 results. The company continued to highlight the material potential for natural gas growth driven by LNG, exports to Mexico, power, and industrial usage, with higher y/y EBITDA driven by natural gas pipelines, terminal pipelines, and CO2 segments, the analyst tells investors in a research note. Kinder Morgan reported slightly lower gathering volumes, but the downside is likely to be short lived given the higher production volumes needed to meet LNG growth, the firm added.
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