HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported first-quarter earnings of $ 276 million.
The Houston-based company said it had profit of 12 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $ 3.2 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $ 3.65 billion.
Kinder Morgan shares have climbed 27 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 3 percent. In the final minutes of trading on Wednesday, shares hit $ 19, a drop of 57 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMI at http://www.zacks.com/ap/KMI
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Keywords: Kinder Morgan, Earnings Report
