Kinder Morgan (KMI) Stock Up, Closer to Meeting British Columbia Pipeline Guidelines
NEW YORK (TheStreet) -- Shares of Kinder Morgan (KMI) - Get Report are up 0.28% to $21.82 this afternoon after British Columbia's Energy Minister Bill Bennett said the company is "a lot closer" to meeting the country's conditions for the expansion of the company's Trans Mountain crude oil pipeline, Bloomberg reports.
"They're working very hard, and frankly they're going to get there," Bennett said.
The Houston-based energy infrastructure company won approval from the Canadian National Energy Board to expand the pipeline, barring that Kinder Morgan follow 157 conditions.
The greatest remaining issue for Kinder Morgan is the company's marine spill response.
Prime Minister Justin Trudeau will make the final decision on the pipeline expansion by year's end.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
Among the primary strengths of the company is its expanding profit margins over time. However, TheStreet Ratings finds weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and disappointing return on equity.
You can view the full analysis from the report here: KMI
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.