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Actionable news in KMI: KINDER MORGAN Inc,

Kinder Morgan (KMI) Stock Slumps, Investors React Negatively to Funding Plan

NEW YORK (TheStreet) -- Kinder Morgan (KMI - Get Report) shares are declining 2.22% to $28/26 on Monday as investors didn't seem to embrace the company's plan to issue $1.6 billion of mandatory convertible preferred stock, according to Barron's.com.

The new issue will mature in three years, the company noted.

Additionally, Fitch Ratings affirmed its triple-B minus rating today. However, the agency said that the issuance of $1.6 billion in preferred equity alleviates some uncertainty around the company.

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Lower oil futures on oversupply worries are also putting more pressure on Kinder Morgan.

Crude oil (WTI) is sliding 1.46% to $43.95 a barrel and Brent crude is tumbling 0.79% to $47.61 a barrel, according to the CNBC.com index.

Separately, TheStreet Ratings team rates KINDER MORGAN INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate KINDER MORGAN INC (KMI) a HOLD. The primary factors that have impacted...


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