This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Kinder Morgan Energy Partners Increases Quarterly Distribution To $1.20 Per Unit

Stocks in this article: KMIKMPKMR

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today increased its quarterly cash distribution per common unit to $1.20 ($4.80 annualized) payable on May 15, 2012, to unitholders of record as of April 30, 2012. This represents a 5 percent increase over the first quarter 2011 cash distribution per unit of $1.14 ($4.56 annualized) and is up from $1.16 per unit ($4.64 annualized) for the fourth quarter of 2011. KMP has increased the distribution 43 times since current management took over in February of 1997.

Chairman and CEO Richard D. Kinder said, “KMP had a strong first quarter, as our stable and diversified assets continued to grow and produce incremental cash flow. In total, our five business segments produced more than $1 billion in segment earnings before DD&A and certain items, an increase of 17 percent over the first quarter of 2011, led by strong results at our CO 2 and Natural Gas Pipelines businesses. Looking ahead, we believe there are multiple growth opportunities across our businesses related to the natural gas shale plays, growing CO 2 needs in West Texas for enhanced oil recovery, increasing demand for export coal, and additional infrastructure requirements to transport products from the Canadian oilsands and to move and store natural gas liquids. With our large footprint of assets in North America, KMP is well positioned for future growth.”

KMP reported first quarter distributable cash flow before certain items of $462 million, up 21 percent from $382 million for the comparable period in 2011. Distributable cash flow per unit before certain items was $1.37 compared to $1.21 for the first quarter last year. First quarter net income before certain items was $534 million compared to $424 million for the same period in 2011. Including certain items, net income was $208 million compared to $341 million for the first quarter last year. Certain items for the first quarter totaled a net loss of $326 million versus a net loss of $83 million for the same period last year. Almost all of the certain items in the current quarter are attributed to the re-measurement of discontinued operations to fair value related to the assets to be divested in order to obtain Federal Trade Commission approval for Kinder Morgan, Inc.’s proposed acquisition of El Paso Corporation.

1 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,803.85 -11.09 -0.06%
S&P 500 2,069.41 +2.38 0.12%
NASDAQ 4,773.8730 +15.6210 0.33%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs