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Kinder Morgan Continued to Fall Last Week

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Kinder Morgan’s price performance

Kinder Morgan (KMI) fell 1.4% for the week ending May 12, 2017. It fell 2.1% the previous week ending May 5, 2017. The broader energy sector (XLE) rose 0.7% last week and outperformed Kinder Morgan. Kinder Morgan underperformed XLE in the previous week ending May 5.

In comparison, NYMEX near-month WTI crude oil futures price rose 3.5% week-over-week. Crude oil fell 6.3% in the week ending May 5.

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Preliminary prospectus for Kinder Morgan Canada

Kinder Morgan Canada Limited updated a preliminary prospectus for an IPO (initial public offering) of ~79.5 million to 92.1 million restricted voting shares on May 10, 2017. Kinder Morgan expects to raise $1.75 billion Canadian dollars to fund its Trans Mountain expansion project through the IPO.

The IPO for its Trans Mountain expansion project is one step that the company is taking towards strengthening its balance sheet.

1Q17 results

Kinder Morgan announced its 1Q17 results on April 19, 2017. The company missed consensus EPS (earnings per share) and adjusted net income estimates for the quarter. Lower contributions from the Southern Natural Gas pipeline following a 50% sale of the pipeline during 3Q16 partly impacted the results.

In this series, we’ll take a look at Kinder Morgan’s key technical indicators, short interest, and analysts’ recommendations for the stock.

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