NuStar Energy L.P. reports higher than anticipated third Quarter 2011 earnings

SAN ANTONIO, Texas - NuStar Energy L.P. (NYSE: NS) on  Oct. 28 announced its third quarter net income applicable to limited partners was $59.8 million, or $0.92 per unit, compared to $58.4 million, or $0.90 per unit, earned in the third quarter of 2010.

For the nine months ended Sept. 30, net income applicable to limited partners was $160.9 million, or $2.49 per unit, compared to $159.0 million, or $2.55 per unit, for the nine months ended Sept. 30, 2010.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $138.8 million for the third quarter of 2011 compared to $131.0 million for the third quarter of 2010. For the nine months ended Sept. 30, EBITDA was $391.7 million, higher than the $369.2 million for the nine months ended Sept. 30, 2010.

Distributable cash flow available to limited partners for the third quarter was $80.3 million, or $1.24 per unit, compared to 2010 third quarter distributable cash flow of $84.0 million, or $1.30 per unit. For the nine months ended Sept. 30, distributable cash flow available to limited partners was $244.8 million, or $3.79 per unit, compared to $214.0 million, or $3.40 per unit for the nine months ended Sept. 30, 2010.

NuStar also declared a distribution of $1.095 per unit, which would equate to $4.38 per unit on an annual basis. The third quarter 2011 distribution will be paid on Nov. 14, to holders of record as of Nov. 8. Distributable cash flow available to limited partners covers the distribution to the limited partners by 1.13 times for the third quarter of 2011.

First-quarter profits decline at El Paso Corp., El Paso Partners

HOUSTON, Texas - First-quarter profit at El Paso Corp. (NYSE: EP) fell 84 percent, while the natural-gas and oil producer's El Paso Pipeline Partners LP (NYSE: EPB) reported earnings lower, but not as precipitously.

El Paso on May 4 reported a profit of $62 million, or $0.08 a share, down from $388 million, or $0.51 cents a share a year earlier. Excluding items such as derivatives impacts, earnings fell to $0.30 from $0.33. Analysts polled by Thomson Reuters expected 28 cents.

El Paso Pipeline Partners posted earnings of $115 million, or $0.57 a share, down from $116 million, or $0.53 a share a year earlier. Operating revenue rose 9.9 percent to $366 million. Analysts had projected $0.58 and $356 million, respectively.

Kinder Morgan misses earnings estimate, raises cash distribution

Kinder Morgan Partners LP (NYSE: KMP) has reported missing revenue and earnings per share estimates, but raised its cash distribution by six percent to $1.11 per share.

Revenue of $2.06 billion was up 24 percent, year over year, but still missed the consensus estimate of $2.1 billion. Earnings of 17 cents per unit were 22 cents less than analysts were expecting.

The company said it was on track for a full-year distribution of $4.40 per unit.

Kinder Morgan’s products pipeline business saw benefits from increased transport of ethanol, the company said, particularly in California. The natural gas pipeline unit saw higher volume and was on track to exceed its annual budget by five percent, the company said.