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Business, Finance, Occupation & Industry

Kinder Morgan Energy Partners Completes Sale of One-Third Interest in Express-Platte Pipeline System

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By Business Wirevia The Motley Fool

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Kinder Morgan Energy Partners Completes Sale of One-Third Interest in Express-Platte Pipeline System

HOUSTON–(BUSINESS WIRE)– Kinder Morgan Energy Partners, L.P. (NYS: KMP) , today announced that it has closed its previously announced sale of its one-third interest in the Express-Platte Pipeline System to Spectra Energy Corp for approximately $380 million pre-tax. KMP‘s joint venture partners in Canada (Ontario Teachers’ Pension Plan Board and Borealis Infrastructure, the infrastructure investment arm of the OMERS pension plan) also sold their interests in the pipeline system, as Spectra Energy Corp purchased 100 percent of Express-Platte—a 1,700-mile oil pipeline system connecting Canadian and U.S. producers to refineries in the Rocky Mountain and Midwest regions of the United States.

Based on the structure of KMP‘s investment with the Express-Platte Pipeline partners, KMP received approximately $15 million of cash flow on an annual basis from its investment, consisting primarily of debenture interest. KMP plans to redeploy the proceeds from the sale into various growth projects to further benefit its unitholders.

Kinder Morgan Energy Partners, L.P. (NYS: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates more than 44,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYS: KMI) . Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates more than 73,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYS: EPB) , along with limited partner interests in KMP, Kinder Morgan Management, LLC (NYS: KMR) and EPB. For more information please visit www.kindermorgan.com.

This news release includes forward-looking statements. These forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Kinder Morgan believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

24/7 Wall St. Closing Bell — March 13, 2013: Markets Hold On for Small Gains (BA, ORCL, WAG, YUM, EPB, DOLE, COOL, PPHM, EXPR, BFAM, MW, VRA, LODE, SOL, SPPI, VLO, EBAY)

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By 24/7 Wall St.

Bull and Bear figures

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U.S. equity markets opened slightly lower this morning following on some poor data on eurozone industrial production, which fell more than expected. Non-farm payrolls fell more than expected in France and the country’s CPI rose less than analysts had forecast. There was no data out of Asia this morning, but there are worries that China will tighten lending requirements for home purchases as the country tries to cool off the real estate market. In the U.S., retail sales came in better than expected (more coverage here), but new applications for mortgages fell as interest rates rose (more coverage here). The Business Roundtable released its economic outlook for spring, which suggests that sales and capital spending will rise, but hiring will remain slow (more coverage here).

The U.S. dollar index rose 0.34% today, now at 82.865. The GSCI commodity index is up 0.1% at 649.62, with commodities prices mostly lower today. WTI crude oil closed down fractionally today, at $92.52 a barrel, following the release of the EIA’s inventory report (more coverage here). Brent crude trades down 1.2% at $108.40 a barrel. Natural gas is up 1% today at about $3.68 per million BTUs. Gold settled down 0.2% today at $1,588.40 an ounce, largely due to the stronger dollar.

The unofficial closing bells put the DJIA up more than 5 points to 14,455.28 (0.04%), the NASDAQ rose nearly 3 points (0.09%) to 3,245.12, and the S&P 500 rose 0.13% or about 2 points to 1,554.52.

There were a several analyst upgrades and downgrades today, including Boeing Co. (NYSE: BA) reiterated as ‘buy’ with a price target of $100 at BofA/Merrill Lynch; Oracle Corp. (NASDAQ: ORCL) raised to ‘buy’ at Canaccord Genuity; Walgreen Co. (NYSE: WAG) raised to ‘buy’ at UBS; Yum! Brands Inc. (NYSE: YUM) maintained as ‘outperform’ and price target raised to $70 at Credit Suisse; and El Paso Pipeline Partners LP (NYSE: EPB) cut to ‘neutral’ and price target raised to $44 at Credit Suisse (more coverage of MLP ratings here).

Earnings reports since markets closed last night resulted in several price moves today, including these: Dole Food Company Inc. (NYSE: DOLE) is down 8.8% at $10.70; Majesco Entertainment Co. (NASDAQ: COOL) is down 16.3% at $0.60; Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is down 8.2% at $1.45; and Express Inc. (NYSE: EXPR) is down 2.7% at $18.35 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Bright Horizons Family Solutions Inc. (NYSE: BFAM), Men’s Wearhouse Inc. (NYSE: MW), Vera Bradley Inc. (NASDAQ: VRA), Comstock Mining Inc. (NYSEMKT: LODE), and ReneSola Ltd. (NYSE: SOL).

Some standouts among heavily traded stocks today include:

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is down 37.6% at $7.76 after posting a new 52-week low of $7.73 earlier today. The drugmaker lowered full-year guidance today by 40%, and the shorts had a field day.

Valero Energy Corp. (NYSE: VLO) is down 4.4% at $43.53. The oil refiner received an analyst downgrade today linked to the rising cost of renewable fuel credits.

eBay Inc. (NASDAQ: EBAY) is down …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Kinder Morgan Companies File 2012 Annual Reports

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By Business Wirevia The Motley Fool

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Kinder Morgan Companies File 2012 Annual Reports

HOUSTON–(BUSINESS WIRE)– Kinder Morgan, Inc. (NYS: KMI) , Kinder Morgan Energy Partners, L.P. (NYS: KMP) , Kinder Morgan Management, LLC (NYS: KMR) and El Paso Pipeline Partners, L.P. (NYS: EPB) have filed their annual reports on Form 10-K for the year ended Dec. 31, 2012, with the Securities and Exchange Commission (SEC).

Chairman and CEO Richard D. Kinder’s shareholder letters to KMI, KMP, KMR and EPB and annual reports on Form 10-K are available free of charge on the Kinder Morgan web site at www.kindermorgan.com in the Investors section.

All Kinder Morgan shareholders may also receive a hard copy of their respective annual report on Form 10-K, which includes the audited financial statements, free of charge upon request. Send requests to Kinder Morgan, Inc., Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC or El Paso Pipeline Partners, L.P., at the following address: 1001 Louisiana Street, Suite 1000, Houston, Texas 77002, Attention: Investor Relations.

Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates approximately 75,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. Kinder Morgan, Inc. (NYS: KMI) owns the general partner interests of Kinder Morgan Energy Partners, L.P. (NYS: KMP) and El Paso Pipeline Partners, L.P. (NYS: EPB) , along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYS: KMR) . For more information please visit www.kindermorgan.com.

This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.

…read more
Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

El Paso Pipeline Partners LP Goes Ex-Dividend Soon

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By DividendChannel.com Looking at the universe of stocks we cover at Dividend Channel, on 1/29/13, El Paso Pipeline Partners LP (NYSE: EPB) will trade ex-dividend, for its quarterly dividend of $0.61, payable on 2/14/13. As a percentage of EPB‘s recent stock price of $41.48, this dividend works out to approximately 1.47%, so look for shares of El Paso Pipeline Partners LP to trade 1.47% lower ? all else being equal ? when EPB shares open for trading on 1/29/13.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen » or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com »
Source: FULL ARTICLE at Forbes Markets