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Kinder Morgan Underperformed Peers Last Week

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Kinder Morgan Underperformed Peers Last Week PART 1 OF 3

Kinder Morgan Underperformed Peers Last Week

KMI fell 1.1%

Kinder Morgan (KMI) stock closed 1.1% lower last week after a 1% rise in the previous week ended September 1, 2017. KMI underperformed Enterprise Products Partners (EPD) and ONEOK (OKE), which rose 0.6% and 2.9%, respectively, for the week. The Energy Select Sector SPDR ETF (XLE) also ended the week with a 1.3% gain. Crude oil prices were up 0.4% for the week.

Kinder Morgan Underperformed Peers Last Week

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The above graph compares the performance of KMI with OKE, EPD, XLE, and crude oil for the week. Learn how crude oil prices are impacting energy investments in Crude Oil: How It Influences Your Energy Investments.

Moving averages

Kinder Morgan stock continued to trade below its 50-day moving average last week. After rising 1% in the previous week ended September 1, 2017, the stock hit resistance near its 50-day moving average and fell. KMI may continue to be weak until it crosses above this key average. Notably, KMI is trading 7.4% below its 200-day moving average.

Kinder Morgan has lost 7.6% year-to-date. Though an announcement of an expected 60% dividend increase in 2018 boosted KMI stock, the recovery wasn’t sustainable.

Institutional investment

Institutional investors in Kinder Morgan, however, seem to be bullish on the stock. Learn more in Institutional Investors Seem Bullish on Kinder Morgan.

Short interest as a percentage of floating shares in Kinder Morgan is 1.6%, slightly lower compared to 1.7% in mid-August. The latest short interest data is scheduled to release on September 12, 2017.

Kinder Morgan Canada Limited selected contractors for the Trans Mountain expansion project last week. We’ll discuss that next.

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