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Stock Update: Kinder Morgan Inc (NYSE:KMI) – British Columbia to oppose Kinder Morgan’s pipeline expansion-Vancouver Sun

[Reuters] – The British Columbia government will formally oppose expansion of the Trans Mountain pipeline by Kinder Morgan Inc in a written submission to the National Energy Board, the Vancouver Sun reported, citing the province’s environment minister. The government believes that Kinder Morgan has failed to provide the National Energy Board with an adequate plan to prevent or respond to an oil spill, the report said, citing Environment Minister Mary Polak. The U.S. pipeline currently ships 300,000 barrels per day (bpd) of crude from Edmonton, Alberta, to Burnaby, British Columbia. Read more on this. Kinder Morgan, Inc. (KMI) , valued at $31.50B, opened this morning at $14.87. Today’s price range has been between $14.01 and $14.92 per share with the price of the stock fluctuating between $14.01 to $44.71 over the last 52 weeks. Priced at 20.96x this year’s forecasted earnings, KMI shares are relatively expensive compared to the industry’s 2.73x forward p/e ratio. And for income investors, the company pays shareholders $0.50 per share annually in dividends, yielding 3.35%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $0.18 per share, which would be $0.08 worse than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $0.68 is a $0.39 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.90 Billion. If reported, that would be a 1.27% decrease over the year-ago quarter. In terms of ratings, Stifel downgraded KMI from Buy to Hold (Oct 22, 2015). Previously, Credit Suisse downgraded KMI from Outperform to Neutral. The average price target for KMI shares by the analysts covering the stock is $21.40, which is 43.91% above where the stock opened this morning. See more in (NYSE:KMI) Similar Articles: Company Update: Kinder Morgan Inc (NYSE:KMI) – Kinder Morgan Transports Powder River Basin Barrels to Guernsey on Double H Pipeline System Company Update (NYSE:KMI): Kinder Morgan Announces Binding Open Season for Expansion of Mier-Monterrey Pipeline Market Update: Kinder Morgan Inc (NYSE:KMI) – Kinder Morgan Approves Proceeding with Tennessee Gas Pipeline’s Northeast Energy Direct Project
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