Kinder Morgan Energy Partners (KMP) has made significant investments in projects that extend the functionality of its premier 715-mile Trans Mountain pipeline connecting Edmonton to refineries and marketing terminals in British Columbia, Vancouver and Washington's Puget Sound region.

Recent reports suggest the company's efforts have fared pretty well, as demand for oil moved through the pipeline has surpassed installed capacity by 63%.

There is huge demand for oil transportation from Canada to the U.S. and other Pacific markets, and Kinder Morgan is aggressively investing in shipping ports, refineries and storage terminals along the Trans Mountain Pipeline to provide an integrated service to oil producers and marketers. KMP faces direct competition from other pipeline and energy companies like Enterprise Products Partners (EPD), Williams Companies (WMB) and from pipeline subsidiaries of energy giants like Exxon Mobil (XOM).

We have a $78.24 price estimate for KMP, which is roughly in line with the current market price.

See our complete analysis for Kinder Morgan Partners

The 715-mile Trans Mountain liquid transportation pipeline has a designed capacity of 300,000 barrels of liquids per day. According to a notice in November, the pipeline is on track to transport close to 260,700 barrels per day in January, up 14% from the estimated volume in December.

In October, the company announced an open season for bookings for 15-year to 20-year transportation agreements between Alberta and British Columbia. The open season will close on Jan. 20, 2017. The long-term shipping agreements will help KMP comprehensively assess demand and carry out the planned expansion of the Trans Mountain Pipeline in a well-phased manner. The Trans Mountain expansion project includes increasing the capacity of the pipeline to 500,000 barrels per day and the construction of pumping stations, terminals and looping stations alongside the pipeline.