Tuesday, May 24, 2011

Kinder Morgan (KMP) Gets Fueled by Janney Montgomery Scott

Analysts from Janney Montgomery Scott gave some fuel to Kinder Morgan Energy Partners LP (NYSE: KMP), initiating coverage on them with a "Buy" rating.

The "Buy" rating did little for Kinder Morgan Monday, as the market wasn't too interested in the company, with volume down almost 20 percent from the 3-month daily average.

The stock also traded in a tight range of $72.71 - $73.36.

Shares of Kinder Morgan closed down Monday at $73.19, dropping $0.31, or 0.42 percent. In after hours trading the company took some more damage, falling another $0.30 a share, to $72.89.

Kinder Morgan Energy Partners, L.P. owns and participates in the management of energy transportation and storage assets.

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