Why Kinder Morgan Inc. Shares Fell 5% in August, Lagging Its Midstream Peers
Share of midstream oil and natural gas giant Kinder Morgan Inc. (NYSE: KMI) fell around 5% last month. The decline was more than similarly large and diversified peer Enterprise Products Partners (NYSE: EPD) and smaller but well-respected Magellan Midstream Partners (NYSE: MMP). More interesting, however, is that it follows a month in which Kinder easily outdistanced peers -- in July, Kinder was up over 6% while Enterprise and Magellan were flat to lower.
Generally speaking, Kinder's stock price followed the general trend of both Enterprise and Magellan in August. So, in some respect, there was nothing odd about Kinder's price movements. It just represented broader investor sentiment about the midstream space.
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Source: Fool.com
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