Kinder Morgan Energy Partners (NYSE:KMP): Closing price $88.30
On Wednesday, the firm said that Kinder Morgan Canada Terminals has reached long-term contracts in support of the building of an additional 1.2 million barrels of merchant storage capacity at Trans Mountain Pipelines Edmonton terminal in Strathcona County, Alberta. Building of the new tankage should begin this spring subsequent to receipt of supporting permits, with completion anticipated for late 2014. The cost of Phase 2 will be roughly $112 million.
Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!