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Kinder Morgan's Trans Mountain Pipeline Environmentally Safe
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Kinder Morgan Inc.’s (KMI - Free Report) recently announced that an environmental review of its proposal to expand the Trans Mountain oil pipeline has been approved by British Columbia.
The pipeline runs from Canada’s oil sands through British Columbia to a marine terminal on the Pacific Coast. Per the environment minister of the province, Mary Polak, and natural gas development minister Rich Coleman, the province's environmental assessment office had suggested 37 conditions to be attached for the approval to address concerns raised by communities and aboriginal groups.
Kinder Morgan's proposal to more than double the capacity of the Trans Mountain pipeline received permission from the Canadian government in November. This expansion would facilitate oil exports from the oil sands in the neighboring province of Alberta to Asia.
Although inter-provincial pipelines fall under federal jurisdiction, we note that it might be difficult for a company to build a pipeline if the provinces oppose the construction. In 2012, British Columbia Premier – Christy Clark – put down five conditions that had to be fulfilled by any company intending to construct pipelines in the province and to get approval.
After this environmental approval, the company is now left with only two other hurdles to cross for the Trans Mountain pipeline. These are a marine response plan to oil spills and the province getting a "fair share" of jobs and economic benefits from the pipeline.
Kinder Morgan’s price chart reveals that its stock has surpassed the Zacks categorized Oil & Gas-Production/Pipeline industry, over the last one year. While Kinder Morgan has gained 69.4%, the broader market increased 59.9%. The announcement is expected to positively impact the stock price. Kinder Morgan currently has a Zacks Rank #4 (Sell). Some better-ranked players in the same space include Braskem S.A. (BAK - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Braskem posted a positive earnings surprise of 107.79% in the last reported quarter.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It had an average earnings surprise of 40.55% in the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
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Kinder Morgan's Trans Mountain Pipeline Environmentally Safe
Kinder Morgan Inc.’s (KMI - Free Report) recently announced that an environmental review of its proposal to expand the Trans Mountain oil pipeline has been approved by British Columbia.
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The pipeline runs from Canada’s oil sands through British Columbia to a marine terminal on the Pacific Coast. Per the environment minister of the province, Mary Polak, and natural gas development minister Rich Coleman, the province's environmental assessment office had suggested 37 conditions to be attached for the approval to address concerns raised by communities and aboriginal groups.
Kinder Morgan's proposal to more than double the capacity of the Trans Mountain pipeline received permission from the Canadian government in November. This expansion would facilitate oil exports from the oil sands in the neighboring province of Alberta to Asia.
Although inter-provincial pipelines fall under federal jurisdiction, we note that it might be difficult for a company to build a pipeline if the provinces oppose the construction. In 2012, British Columbia Premier – Christy Clark – put down five conditions that had to be fulfilled by any company intending to construct pipelines in the province and to get approval.
After this environmental approval, the company is now left with only two other hurdles to cross for the Trans Mountain pipeline. These are a marine response plan to oil spills and the province getting a "fair share" of jobs and economic benefits from the pipeline.
Kinder Morgan’s price chart reveals that its stock has surpassed the Zacks categorized Oil & Gas-Production/Pipeline industry, over the last one year. While Kinder Morgan has gained 69.4%, the broader market increased 59.9%. The announcement is expected to positively impact the stock price.
Kinder Morgan currently has a Zacks Rank #4 (Sell). Some better-ranked players in the same space include Braskem S.A. (BAK - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Braskem posted a positive earnings surprise of 107.79% in the last reported quarter.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It had an average earnings surprise of 40.55% in the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>