This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: KMI KMP KMR

Overview of Business Segments

The Products Pipelines business produced first quarter segment earnings before DD&A and certain items of $176 million versus $180 million for the comparable period in 2011. This segment currently is on track to meet its published annual budget of 6 percent growth.

“Highlights in the first quarter included good results at our Southeast and West Coast Terminals, reflecting higher contract revenues and new tanks coming online at the Carson, Calif., facility, as well as increased earnings from Plantation due to higher tariffs,” Kinder said. “First quarter segment earnings were impacted by lower FERC rates and military volumes on our Pacific system, and a decrease in volumes on CALNEV. Looking ahead, construction of our crude and condensate pipeline, which will transport product from the Eagle Ford Shale in south Texas to the Houston Ship Channel, is nearing completion and is expected to begin service in May.”

Total refined products volumes decreased 1.6 percent compared to the first quarter of 2011. The Pacific system was up slightly compared to the same period last year, with volume growth in both Arizona and northern California. Overall segment gasoline volumes (including transported ethanol on the Central Florida Pipeline) were down 0.8 percent compared to first quarter of 2011, with a significant downturn on CALNEV due to a competing pipeline from Salt Lake City that began service this quarter. Excluding Plantation, which was impacted by production issues at a refinery, diesel volumes declined 2.6 percent versus the same period last year with lower volumes on CALNEV (competing pipeline) and on Central Florida where local power plant demand was satisfied by lower-priced natural gas. Jet fuel volumes were up 4.7 percent compared to the first quarter last year, primarily reflecting an increase in commercial volumes at major airports the company serves in Phoenix, Las Vegas and Charlotte, and at Washington Reagan National. NGL volumes increased by 12 percent compared to the first quarter of last year to 7.4 million barrels.

2 of 9

Select the service that is right for you!

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!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • 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