SAN FRANCISCO (Thomson Financial) - Kinder Morgan Energy Partners L.P. late
Wednesday said fourth-quarter adjusted income rose to $299.2 million, or 53
cents per unit, from $245.8 million, or 55 cents per unit, in the year-ago
period.
Net income grew to $293.3 million, or 50 cents a unit, versus $267.3
million, or 64 cents a unit, a year earlier.
Revenue for the quarter ended Dec. 31 increased to $2.45 billion from $2.12
billion.
The mean estimate of analysts polled by Thomson Financial was for a per-unit
profit of 45 cents on revenue of $2.38 billion.
The Houston-based pipeline transportation and energy storage company
affirmed its distribution guidance for 2008 of $4.02 per unit.
Kinder Morgan Management L.L.C., a limited partner in Kinder Morgan Energy,
also expects a 2008 distribution of $4.02 per share.
For 2008, Kinder Morgan sees 16% growth in its distribution per unit versus
2007. The company expects to deliver around $2.6 billion in distributable cash
flow, an increase of about $500 million over its 2007 performance.
Kinder Morgan Energy shares closed the regular session up 79 cents at
$55.81.
Brigid Gaffikin
bg/bg/gm
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