Kinder Morgan Energy Partners L.P. (KMP, Financial) filed Quarterly Report for the period ended 2012-09-30.
Kinder Morgan Energy Partners Lp has a market cap of $20.5 billion; its shares were traded at around $85.36 with a P/E ratio of 43.77 and P/S ratio of 2.5. The dividend yield of Kinder Morgan Energy Partners Lp stocks is 5.76%. Kinder Morgan Energy Partners Lp had an annual average earning growth of 7.3% over the past 10 years.
Combined, the certain items described in footnotes (a) through (e) to the table above increased our Natural Gas Pipelines business segment s earnings before depreciation, depletion and amortization (including discontinued operations) by $58 million in the third quarter of 2012, and decreased earnings before depreciation, depletion and amortization by $521 million in the first nine months of 2012, when compared to the same prior year periods. The certain items also accounted for increases of $82 million and $181 million, respectively, in segment revenues for both comparable three and nine month periods. Following is information, for each of the comparable three and nine month periods of 2012 and 2011 and including discontinued operations, related to the increases and decreases in the segment s (i) remaining $136 million (55%) and $239 million (36%) increases in earnings before depreciation, depletion and amortization; and (ii) remaining $74 million (6%) and $518 million (16%) decreases in operating revenues:
For the three and nine months ended September 30, 2012, the certain items described in footnotes (a) and (b) to the table above (i) decreased earnings before depreciation, depletion and amortization by $13 million and $11 million, respectively; and (ii) decreased revenues by $13 million and $18 million, respectively, when compared to the same two periods of 2011. For each of the segment s two primary businesses, following is information related to the increases and decreases, in the comparable three and nine month periods of 2012 and 2011, in the segment s remaining (i) $45 million (16%) and $176 million (22%) increases in earnings before depreciation, depletion and amortization; and (ii) $61 million (17%) and $205 million (19%) increases in operating revenues:
The increases in earnings for the comparable three and nine month periods of 2012 and 2011 from the segment s oil and gas producing activities were driven by increases of $68 million (30%) and $188 million (29%), respectively, in crude oil sales revenues. The increases were due to both higher average realizations for U.S. crude oil, increased oil production at the Katz field unit, and for the comparable nine month periods, to increased oil production at the SACROC field unit. When compared to the same periods a year ago, our realized weighted average price per barrel of crude oil increased 26% in the third quarter of 2012 (from $70.43 per barrel in third quarter 2011 to $88.64 per barrel in third quarter 2012) and 27% in the first nine months of 2012 (from $69.54 per barrel in the first nine months of 2011 to $88.39 per barrel in the first nine months of 2012) . Had we not used energy derivative contracts to transfer commodity price risk, our crude oil sales prices would have averaged $89.07 and $92.23 per barrel in the third quarter and first nine months of 2012, respectively, and $87.73 and $92.71 per barrel in the third quarter and first nine months of 2011, respectively. Partially offsetting the increases in crude oil sales revenues were decreases in plant product sales revenues of $15 million (29%) and $19 million (12%), respectively, due to period-to-period decreases in the realized weighted average price per barrel of natural gas liquids of 36% and 21%, respectively.
Our Kinder Morgan Canada business segment includes the operations of our Trans Mountain and Jet Fuel pipeline systems, and our one-third ownership interest in the Express crude oil pipeline system. The certain item relating to income tax savings described in footnote (a) to the table above decreased segment earnings before depreciation, depletion and amortization by $2 million in the first nine months of 2012, when compared to the same period last year. For each of the segment s three primary businesses, following is information for each of the comparable three and nine month periods of 2012 and 2011, related to the segment's (i) $8 million (17%) and remaining $10 million (7%) increases in earnings before depreciation, depletion and amortization; and (ii) $3 million (4%) increase and and $4 million (2%) decrease in operating revenues:
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Kinder Morgan Energy Partners Lp has a market cap of $20.5 billion; its shares were traded at around $85.36 with a P/E ratio of 43.77 and P/S ratio of 2.5. The dividend yield of Kinder Morgan Energy Partners Lp stocks is 5.76%. Kinder Morgan Energy Partners Lp had an annual average earning growth of 7.3% over the past 10 years.
Highlight of Business Operations:
Combined, the certain items described in footnotes (a) and (b) to the table above accounted for increases in segment earnings before depreciation, depletion and amortization expenses of $40 million in the third quarter of 2012, and $194 million in the the first nine months of 2012, when compared to the same two periods of 2011. Following is information, for each of the comparable three and nine month periods of 2012 and 2011, related to the segment s (i) remaining $7 million (4%) increase and $6 million (1%) decrease in earnings before depreciation, depletion and amortization; and (ii) $144 million increase (60%) and $245 million (35%) increase in operating revenues:Combined, the certain items described in footnotes (a) through (e) to the table above increased our Natural Gas Pipelines business segment s earnings before depreciation, depletion and amortization (including discontinued operations) by $58 million in the third quarter of 2012, and decreased earnings before depreciation, depletion and amortization by $521 million in the first nine months of 2012, when compared to the same prior year periods. The certain items also accounted for increases of $82 million and $181 million, respectively, in segment revenues for both comparable three and nine month periods. Following is information, for each of the comparable three and nine month periods of 2012 and 2011 and including discontinued operations, related to the increases and decreases in the segment s (i) remaining $136 million (55%) and $239 million (36%) increases in earnings before depreciation, depletion and amortization; and (ii) remaining $74 million (6%) and $518 million (16%) decreases in operating revenues:
For the three and nine months ended September 30, 2012, the certain items described in footnotes (a) and (b) to the table above (i) decreased earnings before depreciation, depletion and amortization by $13 million and $11 million, respectively; and (ii) decreased revenues by $13 million and $18 million, respectively, when compared to the same two periods of 2011. For each of the segment s two primary businesses, following is information related to the increases and decreases, in the comparable three and nine month periods of 2012 and 2011, in the segment s remaining (i) $45 million (16%) and $176 million (22%) increases in earnings before depreciation, depletion and amortization; and (ii) $61 million (17%) and $205 million (19%) increases in operating revenues:
The increases in earnings for the comparable three and nine month periods of 2012 and 2011 from the segment s oil and gas producing activities were driven by increases of $68 million (30%) and $188 million (29%), respectively, in crude oil sales revenues. The increases were due to both higher average realizations for U.S. crude oil, increased oil production at the Katz field unit, and for the comparable nine month periods, to increased oil production at the SACROC field unit. When compared to the same periods a year ago, our realized weighted average price per barrel of crude oil increased 26% in the third quarter of 2012 (from $70.43 per barrel in third quarter 2011 to $88.64 per barrel in third quarter 2012) and 27% in the first nine months of 2012 (from $69.54 per barrel in the first nine months of 2011 to $88.39 per barrel in the first nine months of 2012) . Had we not used energy derivative contracts to transfer commodity price risk, our crude oil sales prices would have averaged $89.07 and $92.23 per barrel in the third quarter and first nine months of 2012, respectively, and $87.73 and $92.71 per barrel in the third quarter and first nine months of 2011, respectively. Partially offsetting the increases in crude oil sales revenues were decreases in plant product sales revenues of $15 million (29%) and $19 million (12%), respectively, due to period-to-period decreases in the realized weighted average price per barrel of natural gas liquids of 36% and 21%, respectively.
Our Kinder Morgan Canada business segment includes the operations of our Trans Mountain and Jet Fuel pipeline systems, and our one-third ownership interest in the Express crude oil pipeline system. The certain item relating to income tax savings described in footnote (a) to the table above decreased segment earnings before depreciation, depletion and amortization by $2 million in the first nine months of 2012, when compared to the same period last year. For each of the segment s three primary businesses, following is information for each of the comparable three and nine month periods of 2012 and 2011, related to the segment's (i) $8 million (17%) and remaining $10 million (7%) increases in earnings before depreciation, depletion and amortization; and (ii) $3 million (4%) increase and and $4 million (2%) decrease in operating revenues:
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