While the world continues to debate the path of every pipeline, investors are not debating the path of the pipeline companies.
Three of the larger pipeline companies are in focus this week as another LNG project on the west coast was approved in Canada. One of the major pivot points on these approvals is that the pipelines required to feed them would also need to be approved.
With three majors working on access to get Crude Oil and Natural Gas products to tidal water for exporting, it is timely to look at the stocks.
Kinder Morgan (KMI) made new 9-month closing highs on Friday.
Enbridge (ENB) recently made a big bid for Spectra Energy. The investing community seems to really like it. The stock has been consolidating since the big surge in price and volume.
TransCanada (TRP) is also pushing to fresh highs.
This industry group continues to be strong with nice dividend streams as well.
Greg Schnell, CMT, MFTA.
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).
Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018).
Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs.