KMI stock is a buy on this dip
Pipelines are supposed to smooth flowing. But, for industry
stalwart Kinder Morgan (NYSE:KMI), it’s pipelines have been full of kinks
lately. Once a dividend kingpin, KMI was forced to cut its distribution to save
cash, reduce debt and live below its means. And the fruits of that labor have
been working in resulting years. That is until recently. Like much of the
energy sector and market in general, KMI stock has sunk.
Since its peak back in October, Kinder Morgan shares have
plunged about 20% or so. While some of that could be attributed to the recent
overall market decline, a lot has to do with the recent plunge in oil prices.
The question for investors is whether or not, the dip
represents a great buying opportunity to load up on one of the biggest and best
names in the midstream sector.
The answer could be a resounding yes.
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