Energy

Cash Pipeline Still Flows at Kinder Morgan (KMP, SRE, COP)

Money_stack_pic_2Kinder Morgan Energy Partners L.P. (NYSE:KMP) reported earnings yesterday, and handily missed analysts expectations of $3.4 billion in revenue and earnings per limited partner unit of $0.53. Revenue for the fourth quarter totaled nearly $2.3 billion and earnings per unit came in at $0.26. Still, the stock rose about $2/unit before closing the day at $48.49/unit. The quarterly distribution to limited partners will amount to $1.05/common unit.

The number that really matters to Kinder Morgan is its income fromcontinuing operations before taxes. For the fourth quarter, thisamounted to $262.6 million, up from $175.1 million a year ago. For theyear, income from continuing operations totaled $1.34 billion, upnearly 3x from last year’s $487.4.

The big hike in income is the result of the opening of the first phaseof the Rockies Express (REX) natural gas pipeline. REX is a jointventure with Sempra Energy Inc. (NYSE:SRE) and ConocoPhillipsCorporation (NYSE:COP) that will be completed in April 2009 and haul1.8 billion cubic feet of natural gas every day from Cheyenne, Wyoming,to the eastern border of Ohio. The final cost for REX will reach $6.2billion, but according to Kinder Morgan the line is fully subscribedunder long-term contracts.

The unit price is rising again this morning, up to $48.95. The 52-week high is $60.89.

Paul Ausick
January 23, 2009

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.