HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported second-quarter profit of $376 million.
The Houston-based company said it had net income of 15 cents per share. Earnings, adjusted for non-recurring gains, were 14 cents per share.
The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 14 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $3.37 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $3.12 billion.
Kinder Morgan shares have decreased 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 10 percent. In the final minutes of trading on Wednesday, shares hit $19.67, a decrease of 10 percent in the last 12 months.
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