This Day On The Street
Continue to site
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

Kinder Morgan Energy Partners Increases Quarterly Distribution To $1.26 Per Unit

Total refined products volumes decreased 2.5 percent compared to the third quarter of 2011. Overall segment gasoline volumes (including transported ethanol on the Central Florida Pipeline) were down 3.5 percent compared to the third quarter of 2011 attributable to lower volumes on Plantation, Pacific and CALNEV (reflecting ongoing weak demand, higher retail prices and lower volumes transported to and on CALNEV due to a competing pipeline), offset somewhat by an increase in gasoline and ethanol volumes on Central Florida Pipeline of 7.4 percent versus the third quarter last year. Overall segment diesel volumes declined 2.6 percent versus the same period last year, although they were up on Plantation (due to increased volumes related to a refinery upgrade). Overall segment commercial and military jet fuel volumes were up 1.2 percent compared to the third quarter of 2011, due primarily to a 1.9 percent increase in commercial volumes on Pacific and an increase in military volumes on CALNEV resulting from a recently completed project in Barstow, Calif.

The Products Pipelines segment handled 8.9 million barrels of biofuels (ethanol and biodiesel) in the third quarter, up 12 percent from the same period a year ago. Once again this segment realized significant growth in biodiesel barrels stored and blended, and continues to make investments in assets across its operations to accommodate more biofuels.

The Natural Gas Pipelines business produced third quarter segment earnings before DD&A and certain items of $383 million, up 54 percent from $247 million for the comparable period in 2011, and is currently expected to exceed its published annual budget of 19 percent growth due to the dropdowns, as described below.

“Growth in the third quarter compared to the same period last year was driven by the TGP and EPNG dropdowns, contributions from our Eagle Ford assets, good results at Kinder Morgan Treating (benefiting from SouthTex acquisition) and higher earnings at Fayetteville Express (contracts ramping up),” Kinder said. Earnings declined on the Texas intrastate pipeline system compared to the third quarter last year due to timing associated with integrity management projects and specific repair costs to a well at the Markham storage facility. KMIGT and Trailblazer also produced lower results.

3 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs