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Kinder Morgan Partners reports lower quarterly profit
July 16, 2014 / 8:20 PM / 3 years ago

Kinder Morgan Partners reports lower quarterly profit

July 16 (Reuters) - Kinder Morgan Energy Partners LP , the largest U.S. oil and natural gas pipeline company, on Wednesday said second quarter profit fell from a year earlier when results were boosted by a large gain related to an acquisition.

Profit in the quarter at the Houston-based master limited partnership (MLP) was $669 million compared with $1 billion a year ago.

Per unit earnings, after payments to general partner Kinder Morgan Inc were 43 cents per unit, down from $1.41 per unit in the 2013 second quarter.

The amount of cash available to be paid to unitholders, or distributable cash flow, rose 11 percent to $561 million.

Reporting by Anna Driver; Editing by Marguerita Choy

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