| Alerian Index Up, Analyst Cites Oil Price & Kinder Morgan Conference Call For Strength | |
| | |
|
MLP names have had a tough year, but began to recover on Thursday. Pointe Capital Management provided more color regarding Alerian MLP Index (INDEX: AMZ) trading up 5 percent on the day. Pointe Capital's James Carroll, in a conversation with Benzinga, believes that there were two factors contributing to strength in Alerian MLP Index. His initial thoughts turned to Kinder Morgan Inc (NYSE: KMI)'s earnings, saying, "[The] conference call was good, investors were pleased with the Cap. Ex cut for next year. Kinder Morgan is beginning to take serious steps to improve their balance sheet and improve distribution coverage." View more earnings on KMI Despite the solid Kinder Morgan call, Carroll attributes the strength more to oil prices: "Most of the move today was related to sharp recovery in global crude oil prices. No real news on crude oil, but it's [crude oil] dramatically oversold so far this year." Kinder Morgan closed Up 15.5 percent at $13.87. See more from Benzinga © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
|
|
|
Kinder Morgan
|
|
|
CODE : KMP |
ISIN : US4945501066 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinder Morgan is a producing company based in United states of america. Kinder Morgan is listed in Germany and in United States of America. Its market capitalisation is US$ 46.0 billions as of today (€ 36.7 billions). Its stock quote reached its lowest recent point on June 25, 1999 at US$ 10.00, and its highest recent level on November 26, 2014 at US$ 102.03. Kinder Morgan has 450 600 000 shares outstanding. |