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Kinder Morgan's (KMI) Texas Pipeline Begins Commercial Services
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Kinder Morgan, Inc. (KMI - Free Report) announced that its Permian Highway Pipeline (“PHP”) became fully operational on Jan 1, 2021.
The $2-billion pipeline is owned by Kinder Morgan Texas Pipeline (“KMTP”), a subsidiary of Kinder Morgan, EagleClaw Midstream Ventures, LLC, and Altus Midstream Partner, LP (ALTM - Free Report) , each holding an equity interest of 26.7%. The remaining stake is owned by an affiliate of an anchor shipper. Notably, the operator of the pipeline project is KMTP.
PHP is connected to various receipt points at Waha Hub, Western Texas, and delivers natural gas from the Permian Basin to growing retail locations across the Texas Gulf Coast. During the commissioning process, natural gas has been running through the pipeline for some weeks. Importantly, those flows raised prices at the Waha hub in the Permian basin in the past few months.
The 42-inch pipeline is designed to have a carrying capacity of up to 2.1 billion cubic feet of natural gas per day (Bcf/d) and contributes to reducing the Permian Basin natural gas flaring. Notably, the entire capacity of the PHP Project is fully subscribed under long-term agreements.
Importantly, PHP will continue offering environmental benefits and economic importance to Texas for the years ahead. Kinder Morgan believes that the Permian Basin will continue being an important supply basin for decades and the company’s pipeline network offers the natural gas supply to critical markets along the Gulf Coast.
Company Profile & Price Performance
Headquartered in Houston, TX, Kinder Morgan is a leading midstream energy infrastructure provider. Shares of the company have underperformed the industry in the past three months. The stock has gained 7.7% compared with the industry’s 18.2% growth.
Zacks Rank & Stocks to Consider
Kinder Morgan currently has a Zack Rank #3 (Hold).
W&T Offshore is likely to see earnings growth of 77.9% in 2021 and Enerplus is expected to see earnings growth of 437.5% in 2021.
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Kinder Morgan's (KMI) Texas Pipeline Begins Commercial Services
Kinder Morgan, Inc. (KMI - Free Report) announced that its Permian Highway Pipeline (“PHP”) became fully operational on Jan 1, 2021.
The $2-billion pipeline is owned by Kinder Morgan Texas Pipeline (“KMTP”), a subsidiary of Kinder Morgan, EagleClaw Midstream Ventures, LLC, and Altus Midstream Partner, LP (ALTM - Free Report) , each holding an equity interest of 26.7%. The remaining stake is owned by an affiliate of an anchor shipper. Notably, the operator of the pipeline project is KMTP.
PHP is connected to various receipt points at Waha Hub, Western Texas, and delivers natural gas from the Permian Basin to growing retail locations across the Texas Gulf Coast. During the commissioning process, natural gas has been running through the pipeline for some weeks. Importantly, those flows raised prices at the Waha hub in the Permian basin in the past few months.
The 42-inch pipeline is designed to have a carrying capacity of up to 2.1 billion cubic feet of natural gas per day (Bcf/d) and contributes to reducing the Permian Basin natural gas flaring. Notably, the entire capacity of the PHP Project is fully subscribed under long-term agreements.
Importantly, PHP will continue offering environmental benefits and economic importance to Texas for the years ahead. Kinder Morgan believes that the Permian Basin will continue being an important supply basin for decades and the company’s pipeline network offers the natural gas supply to critical markets along the Gulf Coast.
Company Profile & Price Performance
Headquartered in Houston, TX, Kinder Morgan is a leading midstream energy infrastructure provider. Shares of the company have underperformed the industry in the past three months. The stock has gained 7.7% compared with the industry’s 18.2% growth.
Zacks Rank & Stocks to Consider
Kinder Morgan currently has a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are W&T Offshore, Inc. (WTI - Free Report) and Enerplus Corporation (ERF - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
W&T Offshore is likely to see earnings growth of 77.9% in 2021 and Enerplus is expected to see earnings growth of 437.5% in 2021.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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