Acquisitions that contributed to growth quarter over quarter included purchasing 50 percent of a crude oil terminal in Cushing, Okla. (February 2011), acquiring the Port Arthur, Texas, terminal (June 2011) that handles petcoke for the Total refinery, and making an additional equity investment in Watco Companies, which owns the largest privately held short line railroad company in the United States.In the first quarter, this segment handled 17.9 million barrels of ethanol, up 14 percent from 15.7 million barrels for the comparable period last year. Combined, the terminals and products pipelines business segments handled about 25.2 million barrels of ethanol compared to 23 million barrels in the first quarter of 2011. KMP continues to handle approximately 30 percent of the ethanol used in the United States.
Kinder Morgan Energy Partners Increases Quarterly Distribution To $1.20 Per Unit
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.