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Kinder Morgan's Trans Mountain Project Gets Final Approval
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Kinder Morgan, Inc.’s (KMI - Free Report) recently announced that it has received approval from the Government of Canada for the Trans Mountain Expansion Project. This is undoubtedly favorable for the company and is expected to result in stock price appreciation. In fact, the company’s price chart shows that it has outperformed the Zacks-categorised Zacks Sub Industry – Oil & Gas – Product/Pipeline Market year to date. We note that the stock has moved up 43.4%, while the broader market has increased by 32.7% over the same period.
This aforesaid sanction is a major milestone for the company and indicates both the importance of the project and the rigorous evaluation process it has gone through.
The Trans Mountain Expansion Project is expected to enable Canadians to reach out to the world markets for its resources by further developing an existing pipeline system. The expansion project, which is expected to cost CAD$6.8 billion, is believed to have direct and lasting benefits. These comprise $46.7 billion in taxes and royalties for governments, over 800,000 person years of employment over the span of the project. The project will also enable producers to generate revenues of an additional $73.5 billion.
Following the final approval from the Canadian government, Trans Mountain will now continue to pursue all necessary permits. Construction works on the expansion project is likely to begin in Sep 2017, while the twinned pipeline is scheduled to come online in late 2019. Other activities include the final cost estimate evaluation with shippers committed to the project and a final investment decision by the board of directors of Kinder Morgan.
The 1,150 kilometer Trans Mountain pipeline system has been operational and providing the sole West Coast access for Canadian oil products for over six decades. In 2012, Kinder Morgan Canada announced its intention to proceed with the proposed plans to expand the existing Trans Mountain Pipeline system between Edmonton, Alberta and Burnaby, British Columbia following strong commitments from its customers.
SunCoke Energy posted a positive earnings surprise of 177.78% in the last reported quarter. It reported a positive earnings surprise in three of the four preceding quarters.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four preceding quarters.
Futurefuel Corp. posted a positive earnings surprise of 20.83% in the last reported quarter. It reported a positive earnings surprise in all of the four preceding quarters.
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Kinder Morgan's Trans Mountain Project Gets Final Approval
Kinder Morgan, Inc.’s (KMI - Free Report) recently announced that it has received approval from the Government of Canada for the Trans Mountain Expansion Project. This is undoubtedly favorable for the company and is expected to result in stock price appreciation. In fact, the company’s price chart shows that it has outperformed the Zacks-categorised Zacks Sub Industry – Oil & Gas – Product/Pipeline Market year to date. We note that the stock has moved up 43.4%, while the broader market has increased by 32.7% over the same period.
This aforesaid sanction is a major milestone for the company and indicates both the importance of the project and the rigorous evaluation process it has gone through.
The Trans Mountain Expansion Project is expected to enable Canadians to reach out to the world markets for its resources by further developing an existing pipeline system. The expansion project, which is expected to cost CAD$6.8 billion, is believed to have direct and lasting benefits. These comprise $46.7 billion in taxes and royalties for governments, over 800,000 person years of employment over the span of the project. The project will also enable producers to generate revenues of an additional $73.5 billion.
Following the final approval from the Canadian government, Trans Mountain will now continue to pursue all necessary permits. Construction works on the expansion project is likely to begin in Sep 2017, while the twinned pipeline is scheduled to come online in late 2019. Other activities include the final cost estimate evaluation with shippers committed to the project and a final investment decision by the board of directors of Kinder Morgan.
KINDER MORGAN Price
KINDER MORGAN Price | KINDER MORGAN Quote
The 1,150 kilometer Trans Mountain pipeline system has been operational and providing the sole West Coast access for Canadian oil products for over six decades. In 2012, Kinder Morgan Canada announced its intention to proceed with the proposed plans to expand the existing Trans Mountain Pipeline system between Edmonton, Alberta and Burnaby, British Columbia following strong commitments from its customers.
Kinder Morgan currently has a Zacks Rank #3 (Hold). Some better-ranked players in the same sector include SunCoke Energy Inc. (SXC - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Futurefuel Corp. (FF - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SunCoke Energy posted a positive earnings surprise of 177.78% in the last reported quarter. It reported a positive earnings surprise in three of the four preceding quarters.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four preceding quarters.
Futurefuel Corp. posted a positive earnings surprise of 20.83% in the last reported quarter. It reported a positive earnings surprise in all of the four preceding quarters.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>