Kinder Morgan Energy Partners LP, the largest U.S. oil and natural gas pipeline company, on Wednesday said its third-quarter profit jumped from a year earlier, helped by higher profits for its product pipeline and terminals business. Profit in the quarter at the Houston-based master limited partnership (MLP) totaled $976 million compared with $697 million in the same quarter a year ago.The amount of cash available to be paid to unitholders, or distributable cash flow before certain items, rose 10 percent from a year earlier to $607 million.The company said it has raised its quarterly cash distribution per unit 4 percent to $1.40 per share.In August, Kinder Morgan Inc said it will put all its publicly traded units under one roof in a $44 billion deal in response to investor concerns about growth prospects. With that deal, the company will shed its MLP structure.
Kinder Morgan, Inc. (KMI) owns and manages a diversified portfolio of energy transportation and storage assets. Shares of KMI traded higher by 2.29% or $0.79/share to $35.29. In the past year, the shares have traded as low as $30.81 and as high as $42.49. On average, 13522500 shares of KMI exchange hands on a given day and today's volume is recorded at 23291096.
Kinder Morgan Energy Partners, L.P. (KMP) is a pipeline transportation and energy storage company in North America. Shares of KMP traded higher by 2.3% or $1.94/share to $86.29. In the past year, the shares have traded as low as $71.32 and as high as $99.42. On average, 2910880 shares of KMP exchange hands on a given day and today's volume is recorded at 4327284.
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