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Market Update (NYSE:KMI): Kinder Morgan Terminals Signs 10-Year Agreement with Nucor Corporation

[Business Wire] – Kinder Morgan, Inc. today announced it has entered into a new, 10-year agreement with Nucor Corporation to provide in-plant services for five of Nucor’s facilities at Decatur, Alabama; Hertford, North Carolina; Berkeley, South Carolina; and two facilities at Blytheville, Arkansas. Read more on this. Kinder Morgan, Inc. (KMI) , valued at $40.15B, began trading this morning at $18.16. Looking at the equity, the company’s one day range is $17.97 to $18.26 with a trailing 52-week range being $11.20 to $38.58. Priced at 26.13x this year’s forecasted earnings, KMI shares are relatively expensive compared to the industry’s -13.16x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.50 per share annually in dividends, yielding 2.90%. According to a consensus of 17 analysts, the earnings estimate of $0.15 per share would be $0.01 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $0.70, which would be a $0.02 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.43 Billion. If reported, that would be a 0.87% decrease over the year-ago quarter. More recently, Credit Suisse downgraded KMI from Outperform to Neutral (Mar 17, 2016). Previously, Stifel upgraded KMI from Hold to Buy. The average price target for KMI shares is $20.79, which is 14.48% above where the stock opened this morning. See more in (NYSE:KMI) Similar Articles: Market Update: Kinder Morgan Inc (NYSE:KMI) – Kinder Morgan Units Award EPC Contract To IHI E&C For Planned LNG Export Facility At Elba Island, Georgia Market Update: Kinder Morgan Inc (NYSE:KMI) – Kinder Morgan Closes Previously Announced Acquisition of 15 Terminals and Infrastructure from BP Products North America Stock Update: Kinder Morgan Inc (NYSE:KMI) – KINDER MORGAN 2016 Analyst Conference
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