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Kinder Morgan Guides Below Consensus for 2004

The pipeline and terminal company falls short of analysts' estimates.
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Kinder Morgan

(KMI) - Get Kinder Morgan Inc Class P Report

forecast a 2004 profit that fell short of expectations Tuesday.

The Houston-based terminal and pipeline company said it expects earnings of approximately $3.67 a share in 2004, vs. the consensus estimate of $3.70 a share, according to Thomson First Call. The company held to the 2003 consensus earnings estimate of $3.29 a share.

Kinder Morgan also said it expected cash flow to increase by about 11% to $570 million in 2004.

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The company said

Kinder Morgan Energy Partners

(KPM)

, a pipeline partnership it controls, expects to declare cash distributions of $2.84 a unit next year.

Kinder Morgan shares fell 12 cents to $54.88 Monday.