KMI - Kinder Morgan cut to Sell at Goldman after YTD run-up

todamo/iStock Editorial via Getty Images Kinder Morgan ([[KMI]] -1.9%) moves off YTD highs after Goldman Sachs weighs in with a Sell recommendation, downgraded from Neutral with a $15 price target, "largely a relative valuation call" with shares likely to lag large-cap midstream peers in H2. Kinder Morgan "has outpaced a reasonable valuation level relative to its peers and its history as shares now trade at 11x estimated 2022 consensus EBITDA," 1x above history and a 1x premium to large-cap peers compared with a 0.5x-1x discount historically, analyst Michael Lapides writes. Goldman also upgrades Cheniere Energy Partners ([[CQP]] +1.8%) to Buy from Neutral with a $56 price target, citing recent underperformance vs. peers. Kinder Morgan boasts "an impressive and diverse portfolio of assets which [it should] utilize to drive substantial long-term shareholder rewards," The Value Portfolio writes in a bullish analysis published on Seeking Alpha.

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Kinder Morgan cut to Sell at Goldman after YTD run-up