Kinder Morgan Energy Partners LP (KMP), the biggest U.S. pipeline company, said first-quarter profit more than tripled as it expanded its interstate pipeline network.
Net income increased to $783 million from $206 million in the same quarter of 2012, Houston-based Kinder Morgan said in a statement this week. After payments to parent company Kinder Morgan Inc., Kinder Morgan earned 97 cents per unit, compared with a 33-cent loss a year ago. Revenue rose to $2.7 billion from $1.8 billion in the first quarter of 2012.