Kinder Morgan Inc's stock surged 5% during intraday trading on Thursday, reflecting strong investor sentiment following the company's latest earnings report.
The pipeline operator reported fourth-quarter adjusted earnings of 39 cents per share, surpassing analysts' estimates of 37 cents. The profit beat was primarily driven by higher volumes of natural gas transported through its pipelines.
Several analysts responded positively to the results, with TD Cowen raising its price target to $35 from $34 and maintaining a Buy rating, while Jefferies increased its target to $31 from $29. Analysts highlighted Kinder Morgan's positioning to benefit from growing LNG demand, which they see as a key driver of U.S. natural gas demand growth through 2030.
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