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El Paso Pipeline Partners L.P. Reports Operating Results (10-Q)

August 03, 2012 | About:

El Paso Pipeline Partners L.P. (NYSE:EPB) filed Quarterly Report for the period ended 2012-06-30.

El Paso Pipeline Partners, L.p. has a market cap of $7.29 billion; its shares were traded at around $34.5 with a P/E ratio of 18.2 and P/S ratio of 5.1. The dividend yield of El Paso Pipeline Partners, L.p. stocks is 5.8%. El Paso Pipeline Partners, L.p. had an annual average earning growth of 49.7% over the past 5 years.

Highlight of Business Operations:

In the three month period ended June 30, 2012 compared to the same period in 2011, SNG contributed higher EBDA of $5 million primarily due to higher reservation revenue due to completion of Phases II and III of the South System III expansion project in June 2011 and 2012, respectively. For the six months ended June 30, 2012 compared to the same period in 2011, SNGs EBDA decreased by $3 million. This decrease is primarily due to higher pipeline integrity costs, higher property taxes and unfavorable system inventory revaluations more than offsetting the additional $6 million of higher reservation revenue largely attributable to the aforementioned expansion project.

For the six months ended June 30, 2012, we generated cash flow from operations of $326 million compared to $421 million in the same period in 2011. Our operating cash flow in 2012 decreased as compared to 2011 primarily due to a $70 million increased use of working capital primarily attributable to the termination of the accounts receivable sales program and an $8 million project cancellation payment received in June 2011 as a result of BG exercising their cancellation option on Phase B of SLNGs Elba III Expansion project.

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