RBC Capital Remains a Hold on Kinder Morgan Canada (KML)
Shares of Kinder Morgan Canada (KML) were revisited by a Wall Street analyst today. RBC Capital’s analyst Robert Kwan reiterates their Hold rating on the shares, with a C$15 price target.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 12.8% and a 75.5% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Fortis Inc, and TransAlta.
The word on The Street in general, suggests a Hold analyst consensus rating for Kinder Morgan Canada with a C$14.29 average price target, a -2.7% downside from current levels. In a report released today, National Bank also downgraded the stock to Hold with a C$15 price target.
Based on Kinder Morgan Canada’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$11.6 million. In comparison, last year the company earned revenue of C$178 million and had a net profit of C$8.9 million.
Kinder Morgan Canada Ltd. engages in the provision of fee-based services to customers from an asset portfolio consisting of energy-related pipelines and liquid and bulk terminalling facilities. It operates through the Pipelines and Terminals segment.
The company’s shares closed last Thursday at C$14.68, close to its 52-week low of C$10.55.