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- 1 KMI stock price showed a bullish market trend in one month but now changed its path.
- 2 In the recent week, KMI stock price drop more than 3% while similar
Kinder Morgan (NYSE: KMI) stock price once again started showing bears’ dominance from the last two days of trading. In the last month, KMI stock price rose 0.81% while following an all-time bearish trend and over 45% of price decline. The average volume of the stock is nearly 13 Million while experiencing bulls’ dominance in the market last month.
KMI Stock Price Analysis
At the beginning of this week, KMI stock was trading above its 20-day moving average with bulls’ dominance. The stock price then started accumulating active bears which pulled the stock price down.
At press time, in the pre-market session, KMI stock price is resting near its 50 and 100-day moving average, according to TradingView, a web-based social network for traders.
Due to the recent dominance of active bears in the market, the RSI of Kinder Morgan stock started showing a downward trend. Notably, on August 2, 2023, Wednesday, KMI stock price traded in between the price range of $17.22 to $17.43 and noted closing at $17.36 with a 1.14% price decline.
Furthermore, in the oil and gas pipelines industry stocks, Energy Transfer LP Unit (NYSE: ET) noted over 14 Million volume in a day. On the other hand, Kinder Morgan is following Energy Transfer with nearly 10.62 Million of volume in one day, as shown in the above chart.
The analysts have set their price target at $20.36, up by over 17% from the recent closing price of KMI stock. The maximum price estimate set by the analysts is resting at $23.00 while the minimum estimate is showing at $18.00. Due to its recent bearish performance, its technical rating is indicating “sell” in one day.
The Financial Highlights of Kinder Morgan
On July 19, 2023, Kinder Morgan Inc., a natural gas transportation company, reported its second quarter (Q2) 2023 earnings and revenue report. According to the quarterly report, its net income is $582.00 Million while the market cap of the company is nearly $38.68 Billion.
KMI’s price-to-sales ratio is 2.42 and the company has an Enterprise Value to EBITDA ratio of 12.89. KMI dividends are paid quarterly while the last dividend per share was $0.28 and as of today, the Dividend Yield (TTM)% is 6.45%.
As per its Q2 2023 report, KMI EPS is $0.24 whereas the estimation was $0.24 which accounts for a -0.21% surprise. The revenue for the same period amounts to $3.50 Billion despite the estimated figure of $4.55 Billion. The estimated EPS for the next quarter is $0.25, and revenue is expected to reach $4.91 Billion.
In 2022, the revenue of Kinder Morgan Inc. amounted to $19.20 Billion, most of which — $12.66 Billion— came from its highest-performing source at the moment, “natural gas pipelines”.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
