Kinder Morgan Energy Partners Q3 Profit Rises

(RTTNews) - Kinder Morgan Energy Partners, L.P. (KMP) Wednesday reported third-quarter limited partner's interest in net income of $486 million or $1.05 per unit, up from $255 million or $0.59 per unit last year.

Revenues of the quarter rose to $3.93 billion from $3.38 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.64 per share on revenues of $3.57 billion for the quarter. Analysts' estimates typically exclude one-time items.

The company also increased its quarterly cash distribution by 4 percent to $1.40 per unit, payable on November 14 to unitholders of record as of October 31.