Kinder Morgan up premarket on expanding gas ventures, profit beat
BUZZ-Kinder Morgan up premarket on expanding gas ventures, profit beat ** Shares of US pipeline operator Kinder Morgan KMI.N rise 2.65% to $34.87 premarket after approving $4.7 bln for two gas pipeline joint ventures and beating qtrly profit estimates
** The investment includes ~$3.1 bln for the Southeast Connector project and ~$1.6 bln for the Permian Link project to meet surging demand from power plants, data centers and LNG exporters
** The approvals lift the co's total project backlog to a record $14.4 bln
** Co posted an adjusted profit of 35 cents per share for the three months ended September 30, compared with analysts' estimate of 32 cents per share
** 14 of 26 brokerages rate the stock "buy" or higher, 12 "hold"; their median PT is $36 - LSEG-compiled data
** As of last day's close, stock up 23.6% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))
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Kinder Morgan up premarket on expanding gas ventures, profit beat
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Kinder Morgan, Inc. reports results for the quarter ended September 30 - Earnings Summary