Numbers -- and Questions -- Keep Growing at Kinder Morgan

Anyone wondering about the risks -- and rewards -- of investing in merchant energy partnerships might do well to take a look at Kinder Morgan.

Kinder Morgan Energy Partners (KMP Quote), easily the largest master limited partnernship around, has almost single-handedly redefined the entire industry. But at the same time, critics wonder how long the company can maintain its prodigious growth.

Kurt Wulff, a veteran energy analyst, has issued a strong sell recommendation for all Kinder Morgan securities despite their impressive returns. ...