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

El Paso Pipeline Partners Increases Quarterly Distribution To $0.61 Per Unit

For full year 2012, EPB generated distributable cash flow before certain items of $590 million, up 22 percent from $483 million for 2011. Distributable cash flow per unit before certain items was $2.82 compared to $2.45 for 2011. Net income before certain items was $608 million versus $537 million for 2011. Including certain items, net income declined slightly for the year to $589 million compared to $605 million for 2011, primarily due to the non-cash severance costs allocated to EPB from El Paso as a result of the KMI and El Paso merger.

Business Overview

EPB’s assets produced total earnings before DD&A and certain items of $318 million for the fourth quarter and $1.2 billion for the full year, up 14 percent compared to the fourth quarter last year and up 8 percent versus 2011. “EPB continues to benefit from completed expansion projects on SNG and increased demand from natural gas fired electric generation facilities. Gas-fired power generation demand on SNG was up 30 percent compared to the fourth quarter last year and up 42 percent for the full year compared to 2011,” added Kinder. Additionally, EPB’s results benefited from contributions from the May 24, 2012, dropdown from its general partner of the remaining 14 percent of Colorado Interstate Gas and all of Cheyenne Plains Pipeline.

2013 Outlook

As previously announced, EPB expects to declare cash distribution of $2.55 per unit for 2013, a 13 percent increase over the $2.25 per unit it will distribute for 2012. EPB’s budget includes the expected purchase (drop down) of 50 percent of Gulf LNG from KMI during 2013.

In 2013, EPB expects to generate earnings before DD&A of $1.22 billion (adding back EPB’s share of joint venture DD&A), an increase of over $40 million compared to 2012. Additionally, EPB expects to produce excess cash flow of approximately $25 million above the 2013 distribution target of $2.55.

2 of 6

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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 0.00%
FB $101.91 0.00%
GOOG $683.11 0.00%
TSLA $150.47 0.00%
YHOO $26.76 0.00%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs