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The energy transportation company announced Tuesday that it's secured commitments to double the size of its Trans Mountain oil pipeline, according to
"Given KMP's track record and expansive backlog of growth projects, we are increasing our long-term growth capex spending estimate to $2.0B/year from $1.0B/year previously," Wells Fargo analysts wrote in a Jan. 27 report.
Shares of Kinder Morgan Energy hit a 52-week high of $90.57 on Tuesday. The stock's 52-week low of $63.42 was set on Aug. 5.
Kinder Morgan Energy has an estimated price-to-earnings ratio for next year of 34.27; the average for pipeline companies is 64.55. For comparison,
Targa(NGLS - Get Report) and
Williams Partners(WPZ) both have lower forward P/Es of 21.31 and 18.87 respectively.
Of the 16 analysts who cover Kinder Morgan Energy, 11 rate it hold. Three analysts gave it a buy rating and two rated it sell.
TheStreet Ratings gives Kinder Morgan Energy a B grade with a buy rating and
$103.25 price target. The stock has risen 6.25% year to date.