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Kinder Morgan (KMI) Starts Gulf Coast Pipeline Open Season
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Energy infrastructure firm Kinder Morgan, Inc. (KMI - Free Report) recently commenced the non-binding open season for its Gulf Coast Express Pipeline project.
The open season – that will likely conclude by Apr 20, 2017 – is expected to secure commitments for the company’s proposed Pipeline development. The pipeline, which will span across more than 430 miles, is expected to carry natural gas from the Permian Basin to the Texas Gulf Coast.
The pipeline will probably come online by the second half of 2019, depending on commitments from shippers. The company added that the proposed pipeline will be able to transport 1,700,000 dekatherms natural gas every day through its accessible network of pipeline in the Permian region and the new Trans-Pecos Pipeline of Energy Transfer Partners LP .
Texas-based Kinder Morgan has the largest network of natural gas pipelines in North America. Last year, the company lowered its debt to quite an extent, which placed it advantageously for long-term growth. Moreover, the company intends to invest $3.2 billion for growth projects in 2017, which will be financed entirely through internally generated cash flows.
However, the company’s shares underperformed the Zacks categorized Oil & Gas-Production/Pipeline industry in the last one year. During the period, the company’s shares gained almost 16% compared with 25.8% increase for the broader industry. As a result, Kinder Morgan carries a Zacks Rank #3 (Hold).
Some better-ranked players in the same space include Cheniere Energy Partners LP (CQP - Free Report) and Tallgrass Energy Partners LP . While Cheniere Energy sports a Zacks Rank #1 (Strong Buy), Tallgrass Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Kinder Morgan (KMI) Starts Gulf Coast Pipeline Open Season
Energy infrastructure firm Kinder Morgan, Inc. (KMI - Free Report) recently commenced the non-binding open season for its Gulf Coast Express Pipeline project.
The open season – that will likely conclude by Apr 20, 2017 – is expected to secure commitments for the company’s proposed Pipeline development. The pipeline, which will span across more than 430 miles, is expected to carry natural gas from the Permian Basin to the Texas Gulf Coast.
The pipeline will probably come online by the second half of 2019, depending on commitments from shippers. The company added that the proposed pipeline will be able to transport 1,700,000 dekatherms natural gas every day through its accessible network of pipeline in the Permian region and the new Trans-Pecos Pipeline of Energy Transfer Partners LP .
Texas-based Kinder Morgan has the largest network of natural gas pipelines in North America. Last year, the company lowered its debt to quite an extent, which placed it advantageously for long-term growth. Moreover, the company intends to invest $3.2 billion for growth projects in 2017, which will be financed entirely through internally generated cash flows.
However, the company’s shares underperformed the Zacks categorized Oil & Gas-Production/Pipeline industry in the last one year. During the period, the company’s shares gained almost 16% compared with 25.8% increase for the broader industry. As a result, Kinder Morgan carries a Zacks Rank #3 (Hold).
Some better-ranked players in the same space include Cheniere Energy Partners LP (CQP - Free Report) and Tallgrass Energy Partners LP . While Cheniere Energy sports a Zacks Rank #1 (Strong Buy), Tallgrass Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>