This is not a growth stock but just a great company paying a great dividend. Would you say that a three percent drop is significant? I believe there was some disappointment that the dividend was only raised by one cent this quarter. But that is just positioning KMP to raise it by more in subsequent quarters IMO
Leave it to Citi to miss the train as usual. Stock has been sinking like the Titanic and now with sudden resurgence Citi says exit. That being said, do you really want to own this POS when you have been given an opportunity to bail. Think about it. Lawsuits, board fights, etc. and these do not diminish the broken agenda of current BOD. Stay for what I ask.
It appears that funds are being used to redeem outstanding debt (senior securities) while, as usual, adding dividend debt to the FFO. JUst the same old game in my opinion. Look at the chart. It is like a plane decending into the ground. I am out and happy to be gone.