NEW YORK (TheStreet) -- Shares of Kinder Morgan Inc. (KMI) are higher by 1.30% to $39.88 in early afternoon trading on Monday. On Friday afternoon it was announced that the company would resume preliminary work on its Trans Mountain pipeline, after a British Columbia court ruled in favor of Kinder Morgan, granting an injunction against protesters that were blocking work crews, Reuters reported.
The protests took place in the Vancouver suburb of Burnaby, in opposition of the company's planned pipeline expansion. Protesters stood in the way of crews drilling a pair of bore holes, Reuters noted.
Kinder Morgan is looking to triple the size of its 300,000 barrel-per-day Trans Mountain pipeline with a $4.79 billion expansion that would carry more "tar sands crude" from Edmonton, Alberta, to the port of Vancouver, and then it would go on to the Asian markets, Reuters said.
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Separately, TheStreet Ratings team rates KINDER MORGAN INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate KINDER MORGAN INC (KMI) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, expanding profit margins, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."