S&P Capital IQ Reiterates its Strong BUY Rating on the LP Units of Kinder Morgan Energy Partners

October 21 00:00 2011

NEW YORK, October 21 (RainbowNewsLine.com) – Analyst Tanjila Shafi of S&P Capital IQ reiterates STRONG BUY rating on the LP units of Kinder Morgan Energy Partners (NYSE:KMP), while reducing the estimates for the company. The target price is set to $88.

Analyst Tanjila Shafi, in a research note published yesterday, mentions that the company reported its adjusted Q3 earnings short of the estimates due to lower earnings in its natural gas pipeline and product pipelines segments. The company raised its cash distribution for Q3, 2011 & 12 by 4.5%, 5% and 6.3%, respectively, analyst adds. The earnings per unit estimate for 2011 has been reduced from $1.74 to $ 1.67, based on Q3 results.