最新ニュース Kinder Morgan (NYSE:KMI) 株価情報

Kinder Morgan

Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.

Kinder Morgan Inc

Virtus ETF Trust II Virtus KAR Mid-Cap ETF

Disclosed in the latest SEC filing, a significant insider purchase on November 6, involves Amy W Chronis, Board Member at Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>).
What Happened: Chronis made a significant move by purchasing 2,241 shares of Kinder Morgan as reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001506307/000201345824000012//Archives/edgar/data/1506307/000201345824000012/0002013458-24-000012-index.htm">U.S. Securities and Exchange Commission</a>. The transaction's total worth stands at $55,789.
The latest update on Thursday morning shows Kinder Morgan shares up by 0.19%, trading at $26.4.
<h3>Get to Know Kinder Morgan Better</h3>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Financial Milestones: Kinder Morgan's Journey</h3>
Revenue Growth: Kinder Morgan's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2024, the company experienced a revenue decline of approximately -5.32%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 56.45%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Kinder Morgan's EPS reflects a decline, falling below the industry average with a current EPS of 0.28.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.05.
Financial Valuation Breakdown:
<ul>
<li>
Price to Earnings (P/E) Ratio: Kinder Morgan's current Price to Earnings (P/E) ratio of 23.32 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 3.86 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): A high EV/EBITDA ratio of 13.63 positions the company as being more valued compared to industry benchmarks.
</li>
</ul>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
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<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001506307">Check Out The Full List Of Kinder Morgan's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Massive Insider Trade At Kinder Morgan

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Shares of oil and fossil fuel companies are trading higher following the US presidential election. Investors may be weighing the potential impact of Donald Trump's energy policies on the sector.

Barclays analyst Theresa Chen maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Equal-Weight and raises the price target from $22 to $24.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Kinder Morgan, Raises Price Target to $24

The price of natural gas is expected to remain low for the foreseeable future because of the ramping production. A lot of it is available, and the infrastructure is improving rapidly. Natural gas production is driven by the need to decarbonize and a need to power AI, which also drives demand. <a href="https://www.marketbeat.com/stocks/sectors/energy/">Demand for natural gas</a> is the salient point because it has to be gathered, processed, stored, and transported, which is where the profits are. Mid-stream operators are insulated from natural gas price swings. They make their money from demand and volume, with <a href="https://www.marketbeat.com/stock-ideas/natural-gas-will-boom-in-2025-and-kinder-morgan-is-the-play/">demand growing steadily</a>&mdash;good news for their revenue, cash flow, and capital returns.&nbsp;
The latest estimates show that natural gas demand growth will run at a 3.5% CAGR over the next 10 years, producing a 35% net increase before the end of this decade and driving business for midstream companies like Kinder Morgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>), Williams Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmb#NYSE">WMB</a>), and others. The critical detail is that these companies produce robust cash flow and pay it to their investors. The takeaway is that their high yields are safe and reliable, distribution growth supports the price action, and the market for their stock is on fire.&nbsp;
<h3>Kinder Morgan Reports Tepid Q3: Stock Price Breaks Out to Multi-Year High</h3>
Kinder Morgan reported a tepid Q3, with revenue and profits missing the consensus estimates, but the outlook overshadowed the bad news. The company&#39;s comments echo those of others in the industry, citing robust demand from the data center industry that is expected to drive significant and sustained volume growth over the next few years. About 300 data centers are under construction in the U.S., all located within easy reach of natural gas infrastructure and all in need of reliable power with the lowest carbon impact.
Kinder Morgan&#39;s stock price surged following the Q3 release, breaking out to a multi-year high that puts it on track to rise by at least another 20% over the next 12 to 24 months. The move is aided by analysts raising their price targets, lifting the consensus by 10% since summer. Consensus implies fair value near $24.50, but revisions suggest a move to the high-end range is likely, which is another 10% higher.&nbsp;
Analysts will likely continue raising targets because of pipeline asset growth, cash flow growth, free cash flow, and capital return growth, including share repurchases. Kinder Morgan share repurchases benefit shareholders, reducing the average count by 1.7% in the year&#39;s first nine months. <a href="https://www.marketbeat.com/stocks/NYSE/KMI/">Regarding the dividend</a>, it yields more than 4.5%.&nbsp;
<img alt="Kinder Morgan KMI stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241021103943_chart-kmi-10212024.png" style="height:305px; width:624px" />
<h3>The Williams Companies Says Demand Grows at Unprecedented Pace</h3>
Williams Companies operates a diverse pipeline and gathering and processing portfolio. The highlights from its F2 report include better-than-expected profitability, accelerated debt reduction, and a 6% increase in the dividend. The <a href="https://www.marketbeat.com/stocks/NYSE/WMB/dividend/">dividend is worth</a> about 3.6%, with the stock trading near a 10-year high and expected to continue growing along with the business. Business growth is supported by demand <a href="https://www.marketbeat.com/stock-ideas/top-3-stocks-to-buy-now-as-energy-sector-hits-buy-zone/">growth and company expansion</a>.
Williams Companies, like Kinder Morgan, is expanding via acquisitions and new projects, many of which are already under construction. Analysts rate this stock as a Moderate Buy and are raising their price targets, lifting the consensus by more than 1300 basis points since the FQ2 release.&nbsp;
<img alt="Williams Companies WMB stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241021103951_chart-wmb-10212024.png" style="height:305px; width:624px" />
<h3>TC Energy Corporation Is a High-Yield Value</h3>
TC Energy Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trp#NYSE">TRP</a>) pipeline assets span North America from Mexico and the Gulf region throughout the U.S. and Canada. Highlights from its FQ2 report include sustained growth, outperformance on top and bottom lines, and robust cash flow.
The story in 2025 will be about organic growth due to expected divestitures. The company is selling off its non-LNG assets to reposition for the future. Regarding the dividend, TRP is the highest-yielding stock on the list, with a payout of nearly 5.8% and shares trading at a 2-year high.&nbsp;
The recent price action is suggestive. The market for TRP stock is in rally mode, advancing by 35% since spring 2024. The move is driven by results and <a href="https://www.marketbeat.com/stocks/NYSE/TRP/earnings/">analysts raising their price targets</a>. Activity since summer includes several upgrades to Buy or higher equivalents with price targets indicating a new all-time high is likely.&nbsp;
<img alt="TC Energy TRP stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241021104001_chart-trp-10212024.png" style="height:305px; width:624px" />
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/bet-on-these-3-high-yield-stocks-as-natural-gas-demand-grows/">Bet on These 3 High-Yield Stocks as Natural Gas Demand Grows</a>&quot; first appeared on MarketBeat.

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Bet On These 3 High-Yield Stocks As Natural Gas Demand Grows

On October 23, a recent SEC filing unveiled that C. Park Shaper, Director at Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) made an insider sell.
What Happened: Shaper's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001506307/000201345824000008//Archives/edgar/data/1506307/000201345824000008/0002013458-24-000008-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday unveiled the sale of 900,000 shares of Kinder Morgan. The total transaction value is $22,263,481.
As of Thursday morning, Kinder Morgan shares are up by 0.59%, currently priced at $24.91.
<h3>Discovering Kinder Morgan: A Closer Look</h3>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Understanding the Numbers: Kinder Morgan's Finances</h3>
Revenue Growth: Kinder Morgan's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 3.56%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: With a high gross margin of 56.45%, the company demonstrates effective cost control and strong profitability relative to its peers.
</li>
<li>
Earnings per Share (EPS): Kinder Morgan's EPS reflects a decline, falling below the industry average with a current EPS of 0.28.
</li>
</ul>
Debt Management: Kinder Morgan's debt-to-equity ratio is below the industry average. With a ratio of 1.05, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 21.92 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 3.63 suggests overvaluation in the eyes of investors, considering sales performance.
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<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Kinder Morgan's EV/EBITDA ratio stands at 13.1, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.
</li>
</ul>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
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<h3>Exploring the Significance of Insider Trading</h3>
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001506307">Check Out The Full List Of Kinder Morgan's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

As of Oct. 23, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to Benzinga Pro. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Centrus Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>)</h3>
<ul>
<li>On Oct. 17, The U.S. Department of Energy awarded the company&#8217;s subsidiary, American Centrifuge Operating, a contract aimed at expanding domestic commercial production of High-Assay, Low-Enriched Uranium. The company's stock gained around 86% over the past month and has a <a href="https://www.benzinga.com/quote/LEU">52-week high of $104.50</a>.</li>
<li>RSI Value: 76.32&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>LEU Price Action: Shares of Centrus Energy fell 1.2% to close at $93.36 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</h3>
<ul>
<li>On Oct. 16, Kinder Morgan reported third-quarter revenue of $3.699 billion, missing the consensus estimate of $3.975 billion, according to Benzinga Pro. The company reported quarterly earnings of 25 cents per share, missing analyst estimates of 27 cents per share. "The company had a solid third quarter on increased financial contributions from our Natural Gas Pipelines and Terminals business segments, with Adjusted EBITDA up 2% versus the third quarter of 2023. Further, KMI's balance sheet remains very strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times," said Kim Dang, CEO of Kinder Morgan. The company's stock gained around 12% over the past month and <a href="https://www.benzinga.com/quote/KMI">has a 52-week high</a> of $25.43.</li>
<li>RSI Value: 75.33</li>
<li>KMI Price Action: Shares of Kinder Morgan rose 0.3% to close at $24.81 on Tuesday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41479244/dow-edges-lower-as-investors-watch-earnings-reports-with-caution-fear-index-remains-in-greed-zone">Dow Edges Lower As Investors Watch Earnings Reports With Caution: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Short Ideas

Pre-Market Outlook

Top 2 Energy Stocks That May Implode This Quarter

UBS analyst Manav Gupta maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Buy and raises the price target from $25 to $30.

UBS Maintains Buy on Kinder Morgan, Raises Price Target to $30

RBC Capital analyst Elvira Scotto maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Sector Perform and raises the price target from $24 to $26.

RBC Capital Maintains Sector Perform on Kinder Morgan, Raises Price Target to $26

A semiconductor rally pushed the S&amp;P 500 to new all-time highs on Thursday, with strong earnings from Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) boosting tech sentiment after a weak report from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41383732/stock-of-the-day-taiwan-semiconductor-breaks-out-as-buyers-push-prices-higher">earlier in the week.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 2.3%, leading sector gains. NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit fresh record highs, reaching $141 per share during the morning session.
The Nasdaq 100 outperformed major indices, while small caps underperformed as the Russell 2000 faced resistance at a key technical level. The Dow briefly touched a record high of 43,289 points before pulling back slightly.
On the macro front, September retail sales exceeded expectations, and jobless claims fell last week, reinforcing views of strong economic resilience. However, this also slightly hit hopes for Fed rate cuts as economists voiced doubts about the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">need for further easing in November.</a>
The U.S. dollar strengthened, with the dollar index (DXY) climbing to levels last seen in early August. The euro fell 0.4% as the European Central Bank cut interest rates amid weak economic data and ongoing disinflation.
Gold prices, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.5%, setting new records despite rising Treasury yields. The 10-year Treasury yield gained 8 basis points to 4.10%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slid 1.6%, marking its worst session since early August.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.4%, taking a breather after four consecutive sessions of gains.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,304.26</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,865.46</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,231.61</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.25</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $584.45.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.4% higher to $432.52.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 0.7% to $494.15.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $226.02.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Semiconductor stocks rallying Thursday on the heels of strong TSM earnings were Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), up 4%; Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), up 4%; Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), up 3.6% and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), up 3.1%.</li>
<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) soared over 7% to fresh record highs after a strong quarterly report. </li>
<li>Other stocks reacting to company earnings included CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), down 6%; Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), up 0.1%; Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), up 2%; Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), down 2.5%; Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), up 6%; Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), down 3%; Marsh &amp; McLennan Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up 0.1%; Elevance Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 12%; Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 8%; Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1.2%; M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), up 5%; Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8% and KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 1.5%.</li>
<li>Companies slated to report their earnings after the close include Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>). </li>
</ul>
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Photo: Shutterstock

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SOXX

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iShares Trust Barclays 20+ Year Treasury Bond Fund

Chipmakers Rally, Nvidia Smashes Records On TSMC Blowout Earnings, Gold Hits All-Time Highs: What's Driving Markets Thursday?

B of A Securities analyst Jean Ann Salisbury reinstates Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Buy and announces $27 price target.

Initiation

B of A Securities Reinstates Buy on Kinder Morgan, Announces $27 Price Target

Wells Fargo analyst Michael Blum maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Overweight and raises the price target from $22 to $27.

Wells Fargo Maintains Overweight on Kinder Morgan, Raises Price Target to $27

Truist Securities analyst Neal Dingmann maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Hold and raises the price target from $22 to $25.

Truist Securities Maintains Hold on Kinder Morgan, Raises Price Target to $25

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the energy sector.
<h3 class="wp-block-heading">DHT Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHT#NYSE">DHT</a>)</h3>
<ul>
<li>Dividend Yield: 9.64%</li>
<li>BTIG analyst Gregory Lewis initiated coverage on the stock with a Buy rating and a price target of $16 on Oct. 15. This analyst has an accuracy rate of 74%.</li>
<li>Stifel analyst Benjamin Nolan maintained a Hold rating and raised the price target from $12 to $13 on July 24. This analyst has an accuracy rate of 68%</li>
<li>Recent News: On Oct 9, DHT Holdings said it estimates third-quarter time charter equivalent earnings for its fleet at $42,400 per day.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1"> latest DHT news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="895" height="836" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073726/image-139.png" alt="" class="wp-image-600371" style="width:731px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073726/image-139.png 895w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073726/image-139-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073726/image-139-768x717.png 768w" sizes="(max-width: 895px) 100vw, 895px" /></a></figure>
<h3 class="wp-block-heading">Vitesse Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTS#NYSE">VTS</a>)</h3>
<ul>
<li>Dividend Yield: 8.35%</li>
<li>Alliance Global Partners analyst Jeff Grampp maintained a Buy rating and cut the price target from $28 to $26 on Aug. 7. This analyst has an accuracy rate of 63%.</li>
<li>Roth MKM analyst John White initiated coverage on the stock with a Buy rating and a price target of $30.5 on Oct. 16, 2023. This analyst has an accuracy rate of 69%.</li>
<li>Recent News: On Aug. 5, Vitesse Energy posted downbeat quarterly earnings.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1"> latest VTS news</a>.</li>
</ul>
<figure class="wp-block-image is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1"><img decoding="async" src="blob:https://editorial.benzinga.com/19417708-7b2c-49b3-ae19-35dee5e6ef0f" alt="" style="width:711px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Kinder Morgan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</h3>
<ul>
<li>Dividend Yield: 4.61%</li>
<li>Morgan Stanley analyst Devin McDermott upgraded the stock from Underweight to Equal-Weight with a price target of $24 on Sept. 16. This analyst has an accuracy rate of 80%.</li>
<li>Barclays analyst Theresa Chen maintained an Equal-Weight rating and boosted the price target from $21 to $22 on Sept. 13. This analyst has an accuracy rate of 78%.</li>
<li>Recent News: On Oct. 16, Kinder Morgan reported third-quarter revenue of $3.699 billion, missing the consensus estimate of $3.975 billion, according to Benzinga Pro.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1">trend in KMI stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="910" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073908/image-141.png" alt="" class="wp-image-600380" style="width:669px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073908/image-141.png 910w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073908/image-141-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17073908/image-141-768x711.png 768w" sizes="(max-width: 910px) 100vw, 910px" /></a></figure>
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<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
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<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41377157/top-3-risk-off-stocks-which-could-rescue-your-portfolio-this-quarter">Top 3 Risk Off Stocks Which Could Rescue Your Portfolio This Quarter</a></li>
</ul>

Wall Street's Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields

Kinder Morgan shares are trading lower after the company reported worse-than-expected Q3 financial results and said it expects FY24 Adj. EBITDA and Adj. EPS to be below budget.

Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) reported third-quarter financial results after the market close on Wednesday. Here&#8217;s a look at the <a href="https://www.benzinga.com/pressreleases/24/10/b41367646/kinder-morgan-reports-third-quarter-2024-financial-results">key details from the quarter</a>.
Q3 Earnings: Kinder Morgan reported third-quarter revenue of $3.699 billion, missing the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $3.975 billion, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported quarterly earnings of 25 cents per share, missing analyst estimates of 27 cents per share.
Distributable cash flow came in at 49 cents per share after the company generated $1.2 billion in cash from operations and approximately $600 million in free cash flow during the quarter.
The company&#8217;s board approved a dividend of $0.2875&nbsp;per share for the&nbsp;third quarter, payable on Nov. 15 to shareholders of record as of Oct. 31.
&#8220;The company had a solid&nbsp;third quarter&nbsp;on increased financial contributions from our Natural Gas Pipelines and Terminals business segments, with Adjusted EBITDA up&nbsp;2%&nbsp;versus the&nbsp;third quarter&nbsp;of 2023. Further, KMI&#8217;s balance sheet remains very strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,&#8221; said Kim Dang, CEO of Kinder Morgan.
&#8220;Discussions around opportunities related to significant new natural gas demand for electric generation associated with coal conversions at power plants, artificial intelligence operations, cryptocurrency mining, data centers and industrial re-shoring also continued during the quarter, and we now see an opportunity set well in excess of 5 Bcf/d in that area.&#8221;
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we">Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
Outlook: Kinder Morgan had been anticipating full-year 2024 distributable cash flow of $5 and adjusted EBITDA of $8.16 billion, both up 8% year-over-year. The company also previously expected to end the year with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times.
&#8220;Due to lower than budgeted commodity prices and start-up delays on our RNG facilities, partially offset by higher contributions from natural gas transmission and storage, we now expect to be below budget on Adjusted EBITDA by approximately&nbsp;2%&nbsp;and on Adjusted EPS by approximately&nbsp;4%, although we expect Adjusted EBITDA to be up&nbsp;5%&nbsp;and Adjusted EPS to be up&nbsp;9%&nbsp;for the full year versus 2023. We expect to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times,&#8221; Dang said.
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
KMI Price Action: <a href="http://benzinga.com/quote/kmi">Kinder Morgan shares</a> were up approximately 41% year-to-date heading into the print. The stock was down 3.81% after hours at $23.98 at the time of publication Wednesday, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we"> • Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
Photo: Shutterstock.

Earnings

Guidance

After-Hours Center

Movers

Kinder Morgan Q3 Earnings: Revenue Miss, EPS Miss, Guidance Lower, Shares Slide

Kinder Morgan For FY24 Expects To Be Below Budget On Adj. EBITDA ~2% And Adj. EPS By ~4%; Expects Adj. EBITDA Up 5% And Adj. EPS Up 9% YoY

Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) reported quarterly earnings of $0.25 per share which missed the analyst consensus estimate of $0.27 by 7.41 percent. The company reported quarterly sales of $3.699 billion which missed the analyst consensus estimate of $3.975 billion by 6.94 percent. This is a 5.32 percent decrease over sales of $3.907 billion the same period last year.

Earnings Misses

Kinder Morgan Q3 2024 Adj. EPS $0.25 Misses $0.27 Estimate, Sales $3.699B Miss $3.975B Estimate

Small-cap stocks outperformed large caps in Wednesday's session, with the Russell 2000 Index surging to test July 2024 highs on the back of expectations for interest rate cuts and a <a href="https://www.benzinga.com/topic/regional-banks">strong rally in regional banks. </a>
Financial stocks continued their upward momentum, buoyed by strong earnings reports. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) significantly beat expectations, propelling its stock up by 8% to new all-time highs.
Regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), rallied 2.1%, hitting levels last seen in early March 2023, prior to the fallout of Silicon Valley Bank.
Airlines also soared, with United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) posting an 11% rally. The surge lifted the entire industry, as tracked by the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which reached its highest level since July 2023.
The tech sector lagged, weighed down by weak performance in semiconductors. The industry was still reeling from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>)&#8217;s earnings shock on Tuesday, after the company slashed its 2025 revenue outlook, triggering a broad selloff in chipmakers.
Both the Nasdaq 100 and semiconductor stocks remained flat on Wednesday.
In the currency market, the U.S. Dollar Index was poised to log its 12th positive day in the last 13 sessions. Treasury yields edged lower. Oil prices saw a slight decline of 0.6%, with West Texas Intermediate (WTI) crude falling below $70 per barrel.
Precious metals offered positive signals, with gold set to close its fifth consecutive day of gains, while silver rose 0.8%.
In the cryptocurrency space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advanced 1%, reaching $68,000 — its highest level since late July 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,289.65</td>
<td>1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,981.53</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,830.29</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,131.29</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $580.82.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.6% higher to $429.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $489.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.8% to $226.77.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.4%. The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) fell over 3% after missing earnings estimate. </li>
<li>Other stocks reactive to company earnings included United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), up 11.5%, J.B. Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>), up 3.5%, Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), up 1.7%, Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 7.6%, U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), up 4.7% and Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).</li>
<li>ASML Holding N.V. fell over 5% after dropping 17% on Tuesday in reaction to dismal revenue outlook. </li>
<li>Companies set to report their earnings after the close include CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) and Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>). </li>
</ul>
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</ul>
Photo via Shutterstock.

IBKR

JBHT

JETS

Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What's Driving Markets Wednesday?

RBC Capital analyst Elvira Scotto maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Sector Perform and raises the price target from $22 to $24.

RBC Capital Maintains Sector Perform on Kinder Morgan, Raises Price Target to $24

U.S. stock futures point to a flattish start on Wednesday after the <a href="https://www.benzinga.com/markets/equities/24/10/41341168/chipmaker-stocks-sink-on-asml-earnings-leak-oil-eyes-worst-1-day-drop-this-year-small-caps-rally">S&amp;P 500 Index and the Dow Jones Industrial Average retreated from record highs</a> in the previous session. A rebound by tech stocks could lend support to the market but the absence of any major economic catalysts could render the mood uncertain, potentially leading to a range-bound move. Earnings news, and preannouncements, if any, may also guide the market. Crude oil continues to be weak amid the fluid geopolitical situation, exerting further downward pressure on energy stocks.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.09%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.02%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.49%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.07% to $580.16 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved up 0.10% to $491.36, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Wall Street pulled back sharply from their record highs on Tuesday as Dutch chip-equipment maker ASML Holdings N.V.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) weak revenue forecast weighed down on the artificial intelligence hardware space and oil&#8217;s plunge hurt energy stocks. The major indices opened on a mixed note after a regional manufacturing survey showed an unexpected contraction. 
The S&amp;P 500 and the Nasdaq Composite indices, which started higher, gave back their gains and fell sharply after ASML&#8217;s early earnings release. They languished below the unchanged line for the rest of the session before ending sharply lower, while the Dow was in the red throughout the session.
Healthcare stocks also pulled back strongly, while real-estate stocks ended firmer during the session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.01%</td>
<td>18,315.59</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.76%</td>
<td>5,815.26</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.75%</td>
<td>42,740.42</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.05%</td>
<td>2,249.82</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Given the bull market has progressed beyond the second year, more gains could follow, according to Carson Group&#8217;s Chief Market Strategist Ryan Detrick. &#8220;Going back 50 years, if a bull market makes it past it&#8217;s 2nd birthday (like this one) that is a great sign many more years could be left in the tank,&#8221; he said. 
&#8220;Five bull markets made it this far and the shortest was at least 5 years old when it ended,&#8221; he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Going back 50 years, if a bull market makes it past it&#39;s 2nd birthday (like this one) that is a great sign many more years could be left in the tank. Five bull markets made it this far and the shortest was at least 5 years old when it ended. &#x1f4aa; <a href="https://t.co/pEcNTRyGRl">pic.twitter.com/pEcNTRyGRl</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1846381774533722340?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See also: <a href="https://www.benzinga.com/money/how-to-trade-futures-on-thinkorswim">How To Trade Futures</a></figcaption></figure>
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its import and export prices report for September at 8:30 a.m. EDT. Economists, on average, expect 0.4% and 0.3% declines in export and import prices, respectively, following 0.7% and 0.3% declines in August.</li>
</ul>
Stocks In Focus:
<ul>
<li> J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) climbed over 7% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the release of the company&#8217;s quarterly results. </li>
<li>NovoCure Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>) jumped nearly 30% after the FDA approved the company&#8217;s lung cancer treatment.</li>
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) are among the noteworthy <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market opening.</a></li>
<li>Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) rose over 1.5% on a positive analysts&#8217; action.</li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) declined over 2% after a report said Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) has been asked to wait until the U.S. election regarding its intention to invest in the troubled chipmaker.</li>
<li>Those reporting after the close include Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), Kinder Morgan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) and Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures retreated, although the loss was much more modest than Tuesday&#8217;s, while gold futures rose modestly. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose past the $67.5 level, while the 10-year U.S. Treasury note slipped 2.6 points to 4.012%.
Most Asian markets declined, led by the Japanese market, although the Chinese and Indonesian markets notched up small gains. The tech sell-off seen in Europe and the U.S. dampened sentiment in the domestic markets. 
European stocks were on the back foot in early trading but the U.K. market was seen advancing.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41351475/after-asml-rocks-ai-hardware-names-gene-munster-explains-why-its-overreaction-ai-tr">After ASML Rocks AI Hardware Names, Gene Munster Explains Why It&#8217;s &#8216;Overreaction:&#8217; &#8216;AI Trade Is On Track&#8217;</a></li>
</ul>
Photo via Shutterstock

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