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Kinder Morgan Initiates Open Season to Seek Commitments
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Kinder Morgan, Inc. (KMI - Free Report) initiated a binding open season for the Roanoke Expansion project on the Plantation Pipe Line System to secure commitments.
The Roanoke Expansion will augment refined petroleum products capacity on the Plantation Pipe Line System by about 21,000 barrels per day (bpd) from the Baton Rouge, LAand Collins, MS origin points to Roanoke, VA.
The expansion will mainly comprise additional pump capacity and operational storage on the Plantation system. Courtesy of improvements made in the existing system, the Roanoke Expansion project provides a secure and reliable energy supply solution for the area. Subject to a successful open season and the receipt of regulatory approvals, the project is expected to come online by Apr 1, 2020.
Kinder Morgan is one of the largest energy infrastructure companies in North America. The company operates approximately 85,000 miles of pipelines transmitting natural gas, refined petroleum products, crude oil, carbon dioxide (CO2) and additional products. It has about 152 terminals that store petroleum products and chemicals as well as ethanol, coal, petroleum coke, gasoline, jet fuel and steel.
The company’s midstream properties are linked to all natural gas-rich plays in the United States. These extensive pipeline networks, which include significant investments, have been generating stable fee-based revenues.
Since inception, the company has spent more than $60 billion on acquisitions and asset expansion. These developments have been aiding the company generate high distributable cash flow. Notably, the company is the transporter of the largest volumes of petroleum products and CO2 in North America.
Price Performance
In the past year, Kinder Morgan’s shares have lost 4.1% compared with the industry’s 12.4% decline.
Zacks Rank & Stocks to Consider
Kinder Morgan currently carries a Zacks Rank #3 (Hold).
Petrobras is the largest integrated energy firm in Brazil and one of the major players in Latin America. It pulled off an average positive earnings surprise of 10.4% in the last four quarters.
Shell Midstream Partners is involved in owning, operating, developing and acquiring pipelines and other midstream assets. The partnership delivered an average positive earnings surprise of 7.9% in the trailing four quarters.
CNX Resources is an independent oil and gas exploration and production company. The company delivered a positive earnings surprise of 250.0% in the preceding quarter.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
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Kinder Morgan Initiates Open Season to Seek Commitments
Kinder Morgan, Inc. (KMI - Free Report) initiated a binding open season for the Roanoke Expansion project on the Plantation Pipe Line System to secure commitments.
The Roanoke Expansion will augment refined petroleum products capacity on the Plantation Pipe Line System by about 21,000 barrels per day (bpd) from the Baton Rouge, LAand Collins, MS origin points to Roanoke, VA.
The expansion will mainly comprise additional pump capacity and operational storage on the Plantation system. Courtesy of improvements made in the existing system, the Roanoke Expansion project provides a secure and reliable energy supply solution for the area. Subject to a successful open season and the receipt of regulatory approvals, the project is expected to come online by Apr 1, 2020.
Kinder Morgan is one of the largest energy infrastructure companies in North America. The company operates approximately 85,000 miles of pipelines transmitting natural gas, refined petroleum products, crude oil, carbon dioxide (CO2) and additional products. It has about 152 terminals that store petroleum products and chemicals as well as ethanol, coal, petroleum coke, gasoline, jet fuel and steel.
The company’s midstream properties are linked to all natural gas-rich plays in the United States. These extensive pipeline networks, which include significant investments, have been generating stable fee-based revenues.
Since inception, the company has spent more than $60 billion on acquisitions and asset expansion. These developments have been aiding the company generate high distributable cash flow. Notably, the company is the transporter of the largest volumes of petroleum products and CO2 in North America.
Price Performance
In the past year, Kinder Morgan’s shares have lost 4.1% compared with the industry’s 12.4% decline.
Zacks Rank & Stocks to Consider
Kinder Morgan currently carries a Zacks Rank #3 (Hold).
A few better-ranked players in the same sector are Petroleo Brasileiro S.A. (PBR - Free Report) or Petrobras SA, Shell Midstream Partners, L.P and CNX Resources Corporation (CNX - Free Report) . All these stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Petrobras is the largest integrated energy firm in Brazil and one of the major players in Latin America. It pulled off an average positive earnings surprise of 10.4% in the last four quarters.
Shell Midstream Partners is involved in owning, operating, developing and acquiring pipelines and other midstream assets. The partnership delivered an average positive earnings surprise of 7.9% in the trailing four quarters.
CNX Resources is an independent oil and gas exploration and production company. The company delivered a positive earnings surprise of 250.0% in the preceding quarter.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>