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 (KMI) Cuts El Paso Pressure After Arizona Fire
Read MoreHide Full Article
Kinder Morgan, Inc. (KMI - Free Report) recently decided to decrease operating pressure on part of the El Paso natural gas pipeline system, following a deadly explosion on the 30-inch Line 2000 natural gas pipeline, per Reuters. The incident occurred last week near Coolidge, AZ, which unfortunately killed two people and injured one.
The decision to cut pressure on the pipeline is expected to decrease natural gas supplies from the Permian Basin to California and some other parts of the Southwest United States. This move comes at a time when a heatwave is expected to increase temperature in the region later this week. The natural gas supply cut and rising temperature are expected to boost natural gas prices in California, per Reuters.
Kinder Morgan’s El Paso Cimarron compressor has witnessed significant gas flow decline since the explosion. From more than 500 million cubic feet of natural gas flow per day during early-August, the figure reached to almost zero. Until further notice, the reductions on the Line 2000 system will likely remain. The National Transportation Safety Board is expected to issue a preliminary report from the site of the unfortunate incident.
The El Pasopipeline system has a 10,140-mile natural gas pipeline network. It ships the commodity from major basins like San Juan, Permian and Anadarko to multiple states including California, Arizona, Texas, and others. The pipeline system provides both firm transportation and interruptible transportation services.
Price Performance
Kinder Morgan’s shares have increased 20.5% in the year-to-date period compared with 19.5% rally of the industry it belongs to.
Hess Midstream’s bottom line for 2021 is expected to increase 19.1% year over year.
The Zacks Consensus Estimate for Range Resources’ earnings for 2021 is pegged at $1.57 per share, indicating a massive improvement from the year-ago loss of 9 cents.
The consensus estimate for Cheniere’s earnings for 2021 is pegged at $2.80 per share, signaling a major improvement from the year-ago loss of 34 cents.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Kinder Morgan (KMI) Cuts El Paso Pressure After Arizona Fire
Kinder Morgan, Inc. (KMI - Free Report) recently decided to decrease operating pressure on part of the El Paso natural gas pipeline system, following a deadly explosion on the 30-inch Line 2000 natural gas pipeline, per Reuters. The incident occurred last week near Coolidge, AZ, which unfortunately killed two people and injured one.
The decision to cut pressure on the pipeline is expected to decrease natural gas supplies from the Permian Basin to California and some other parts of the Southwest United States. This move comes at a time when a heatwave is expected to increase temperature in the region later this week. The natural gas supply cut and rising temperature are expected to boost natural gas prices in California, per Reuters.
Kinder Morgan’s El Paso Cimarron compressor has witnessed significant gas flow decline since the explosion. From more than 500 million cubic feet of natural gas flow per day during early-August, the figure reached to almost zero. Until further notice, the reductions on the Line 2000 system will likely remain. The National Transportation Safety Board is expected to issue a preliminary report from the site of the unfortunate incident.
The El Pasopipeline system has a 10,140-mile natural gas pipeline network. It ships the commodity from major basins like San Juan, Permian and Anadarko to multiple states including California, Arizona, Texas, and others. The pipeline system provides both firm transportation and interruptible transportation services.
Price Performance
Kinder Morgan’s shares have increased 20.5% in the year-to-date period compared with 19.5% rally of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
The company currently has a Zacks Rank #2 (Buy). Other top-ranked stocks from the energy space include Hess Midstream LP (HESM - Free Report) , Range Resources Corporation (RRC - Free Report) and Cheniere Energy, Inc. (LNG - Free Report) , each having a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hess Midstream’s bottom line for 2021 is expected to increase 19.1% year over year.
The Zacks Consensus Estimate for Range Resources’ earnings for 2021 is pegged at $1.57 per share, indicating a massive improvement from the year-ago loss of 9 cents.
The consensus estimate for Cheniere’s earnings for 2021 is pegged at $2.80 per share, signaling a major improvement from the year-ago loss of 34 cents.