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 Distributes $4.98 Per Unit For 2012 – Meets Annual Budget

NGL production for the fourth quarter was a record 19.7 MBbl/d, up 14 percent from the same period in 2011. For 2012, NGL production also set a record, 13 percent higher than last year.

This segment is an area where KMP is exposed to commodity price risk, but that risk is partially mitigated by a long-term hedging strategy intended to generate more stable realized prices. The realized weighted average oil price per barrel for the year, with all hedges allocated to oil, was $87.72 versus $69.73 for 2011. The realized weighted average NGL price per barrel for the year, allocating none of the hedges to NGLs, was $50.95 compared to $65.61 for 2011.

The Terminals business produced fourth quarter segment earnings before DD&A and certain items of $198 million, up 7 percent from $184 million for the comparable period in 2011. For the year, Terminals produced $752 million, up 7 percent from $701 million in 2011, and just below its published annual budget of 8 percent growth. Existing assets accounted for about 85 percent of the growth in the fourth quarter and 80 percent of the growth for the full year, with acquisitions making up the rest.

“Internal growth in the fourth quarter was driven by our liquids terminals on the Houston Ship Channel and in New York Harbor (due to increased volumes and rates attributable to new and restructured contracts, as well as incremental tank capacity), higher demand for export coal, and increased steel tonnage at Fairless Hills,” Kinder said. “Export coal volumes increased by more than 18 percent in the fourth quarter versus the same period last year. On the acquisition side, our additional equity investment in December 2011 in Watco Companies, which owns the largest privately held short line railroad business in the United States, contributed about 15 percent of the growth in the fourth quarter. I also would like to commend all of our employees who worked 24-7 to resume operations at our Northeast Terminals within days following Hurricane Sandy, which helped restore gasoline service within the region.”

5 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!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

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