We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kinder Morgan Says No More Concession on Trans Mountain Plan
Read MoreHide Full Article
The Canadian unit of energy infrastructure provider Kinder Morgan, Inc. (KMI - Free Report) recently made it clear that the company will not provide any further concessions on its Trans Mountain pipeline expansion. This decision comes in the midst of political uncertainty that clouds the province of British Columbia through which the pipeline passes.
Political Scenario
The current political landscape in British Columbia is fractious and in disfavor of the Trans Mountain Pipeline after majority of the voters sided with the Alliance of New Democratic Party and Green Party, opposing the Trans Mountain pipeline. The Green Party is trying to avoid the risks connected with the transportation of diluted bitumen in British Columbia's coastal areas.
The pipeline received its federal approval during the rule of the incumbent Liberal party, which failed to secure a majority against the Alliance in the election held on May 9, 2017.
Kinder Morgan still believes that the political uncertainty in British Columbia will not affect the ongoing and planned operations of the project.
However, the company head in Canada, Ian Anderson, and the political leader of the Green Party, Andrew Weaver, are open to discussion regarding the province and the pipeline's future.
About the Pipeline
The Canadian unit of Kinder Morgan owns the 1,150 km Trans Mountain Pipeline, which carries crude and refined oil from Alberta to the west coast of British Columbia.
The construction of the expansion project that could begin in September will help the company to nearly triple the size of the existing pipeline. The $7.4 billion development will help Kinder Morgan to carry 890,000 barrels a day of crude from Edmonton, Alberta, to Barnaby, British Columbia.
About the Company
Kinder Morgan is engaged in energy transportation and storage in North America. The company handles energy products like natural gas, refined petroleum products, crude oil, ethanol, coal, and carbon dioxide (CO2). It operates natural gas pipelines in the Rocky Mountains, the Midwest, and Texas as well as refined petroleum products pipeline in North America. Kinder Morgan also operates terminals for the storage of petroleum products and chemicals and CO2 pipelines and oil producing fields. Kinder Morgan is headquartered in Houston, TX.
Price Performance
In the last one month, Kinder Morgan’s shares have underperformed the Zacks categorized Oil and Gas - Production and Pipelines industry. During this period, the industry registered a decrease of 3.6% while Kinder Morgan’s stock fell 5.9%.
Zacks Rank and Stocks to Consider
Kinder Morgan presently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the oil and energy sector are Delek US Holdings, Inc. (DK - Free Report) , Enbridge Energy, L.P. and Canadian Natural Resources Limited (CNQ - Free Report) . All of these stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek US Holdings’ sales for 2017 are expected to increase 71.35% year over year. The company came up with a positive average earnings surprise of 60.68% in the last four quarters.
Enbridge Energy’s sales for the second quarter of 2017 are expected to increase 13.17% year over year. The partnership delivered an average positive earnings surprise of 38.22% in the last four quarters.
Canadian Natural Resources’ sales for 2017 are expected to increase 47.41% year over year. The company delivered a positive earnings surprise of 30.77% in the first quarter of 2017.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Kinder Morgan Says No More Concession on Trans Mountain Plan
The Canadian unit of energy infrastructure provider Kinder Morgan, Inc. (KMI - Free Report) recently made it clear that the company will not provide any further concessions on its Trans Mountain pipeline expansion. This decision comes in the midst of political uncertainty that clouds the province of British Columbia through which the pipeline passes.
Political Scenario
The current political landscape in British Columbia is fractious and in disfavor of the Trans Mountain Pipeline after majority of the voters sided with the Alliance of New Democratic Party and Green Party, opposing the Trans Mountain pipeline. The Green Party is trying to avoid the risks connected with the transportation of diluted bitumen in British Columbia's coastal areas.
The pipeline received its federal approval during the rule of the incumbent Liberal party, which failed to secure a majority against the Alliance in the election held on May 9, 2017.
Kinder Morgan still believes that the political uncertainty in British Columbia will not affect the ongoing and planned operations of the project.
However, the company head in Canada, Ian Anderson, and the political leader of the Green Party, Andrew Weaver, are open to discussion regarding the province and the pipeline's future.
About the Pipeline
The Canadian unit of Kinder Morgan owns the 1,150 km Trans Mountain Pipeline, which carries crude and refined oil from Alberta to the west coast of British Columbia.
The construction of the expansion project that could begin in September will help the company to nearly triple the size of the existing pipeline. The $7.4 billion development will help Kinder Morgan to carry 890,000 barrels a day of crude from Edmonton, Alberta, to Barnaby, British Columbia.
About the Company
Kinder Morgan is engaged in energy transportation and storage in North America. The company handles energy products like natural gas, refined petroleum products, crude oil, ethanol, coal, and carbon dioxide (CO2). It operates natural gas pipelines in the Rocky Mountains, the Midwest, and Texas as well as refined petroleum products pipeline in North America. Kinder Morgan also operates terminals for the storage of petroleum products and chemicals and CO2 pipelines and oil producing fields. Kinder Morgan is headquartered in Houston, TX.
Price Performance
In the last one month, Kinder Morgan’s shares have underperformed the Zacks categorized Oil and Gas - Production and Pipelines industry. During this period, the industry registered a decrease of 3.6% while Kinder Morgan’s stock fell 5.9%.
Zacks Rank and Stocks to Consider
Kinder Morgan presently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the oil and energy sector are Delek US Holdings, Inc. (DK - Free Report) , Enbridge Energy, L.P. and Canadian Natural Resources Limited (CNQ - Free Report) . All of these stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek US Holdings’ sales for 2017 are expected to increase 71.35% year over year. The company came up with a positive average earnings surprise of 60.68% in the last four quarters.
Enbridge Energy’s sales for the second quarter of 2017 are expected to increase 13.17% year over year. The partnership delivered an average positive earnings surprise of 38.22% in the last four quarters.
Canadian Natural Resources’ sales for 2017 are expected to increase 47.41% year over year. The company delivered a positive earnings surprise of 30.77% in the first quarter of 2017.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>