Kinder Morgan (KMI) fell 0.5% in the week ending June 15. The stock outperformed Enterprise Products Partners (EPD) and ONEOK (OKE), which fell 4.0% and 1.0%, respectively, last week. The Energy Select Sector SPDR ETF (XLE) fell 3.6% during the same period. Crude oil prices fell 1.0% during the week. To learn about the latest factors driving crude oil prices, read Crude Oil Futures Might Extend the Recent Rally.
The above graph compares Kinder Morgan stock with Enterprise Products Partners, ONEOK, and XLE last week.
Kinder Morgan has fallen nearly 11% in 2018. In comparison, Enterprise Products Partners and ONEOK have risen 4% and 24%, respectively, year-to-date. Read Is It the Right Time to Invest in Midstream Companies? to learn how Kinder Morgan’s total returns have compared with its peers over the years.
Kinder Morgan stock is trading 3% above its 50-day moving average and 3% below its 200-day moving average. Kinder Morgan’s 50-day moving average might act as a support for the stock in the near term. On the other hand, Kinder Morgan’s 200-day average might act as a resistance for the stock.
Kinder Morgan’s 50-day average has been lower than its 200-day average for more than a year. Kinder Morgan stock has fallen nearly 13% in one year.
According to data released on June 11, the short interest in Kinder Morgan fell 6.7% from 47.9 million shares on May 15 to 44.7 million shares on May 31. Kinder Morgan’s short interest ratio is ~3.0x, which shows that it will take nearly three days to cover all of the open short positions in the stock. Currently, the short interest in Kinder Morgan as a percentage of its float is 2.4%.
To learn about the latest institutional investor activity in Kinder Morgan, read Gauging Institutional Investors’ Interest in Kinder Morgan.