3 Energy Stock Stories To Spark Midweek Investment Chatter

Kinder Morgan Energy Partners (NYSE:KMP): Closing price $87.48

Company spokesman Allen Fore said Wednesday that Kinder Morgan is  no longer planning to build a coal export at the Port of St. Helens in Oregon, but is open to the idea of exporting coal out of the Pacific Northwest, remarking that “It’s not about coal, it’s about siting.”  The firm had been conducting due diligence at the Port Westward industrial facility since January of 2012 to determine if the site was usable for a coal export terminal, according to Fore, adding that while the site possessed rail, water, and road access, the firm found that it would not be able to fit the necessary equipment within the footprint, saying that “We couldn’t find a configuration on the site.”

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KMP

MarkWest Energy Partners (NYSE:MWE): Closing price $62.78

MarkWest reported Wednesday definitive agreements to purchase all of the ownership interests of certain midstream assets in the Anadarko Basin from a wholly-owned subsidiary of Chesapeake Energy Corporation (NYSE:CHK), at a cash price of $245 million; the transaction closed with the execution of the agreements. The assets comprise a 200 million cubic feet per day cryogenic gas processing plant — Buffalo Creek Plant — and 22 miles of gas gathering pipeline in Hemphill County, Texas, and roughly 30 miles of rights-of-way connected with the future construction of a high-pressure trunk line.

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MWE

Phillips 66 (NYSE:PSX): Closing price $63.38

Chief Executive Greg Garland said on Wednesday that lawmakers need to think again before hiking the amount of ethanol mandated to be mixed into gasoline, a matter he says impacts all of the refining industry. Pronouncing it an “unworkable mandate,” Garland said that the ethanol-blending-requirement level should not be increased, and that the Environmental Protection Agency’s proposal to require refiners to add more ethanol to the fuel, along with flat or stalling domestic demand for gasoline, suggests that the industry in its entirety is likely to hit the so-called blend wall by 2014, which is a level of mix after which refiners say more ethanol can not be added to the fuel supply.

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PSX

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