El Paso Pipeline Partners (EPB) Misses Q3 EPS by 8c

El Paso Pipeline Partners (NYSE: EPB) reported Q3 EPS of $0.31, $0.08 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $352 million versus the consensus estimate of $386.2 million.

2014 Outlook

KMI announced Aug. 10, 2014, that it will acquire all of the publicly held shares/units of Kinder Morgan Energy Partners, Kinder Morgan Management, and EPB in an approximately $70 billion transaction. The boards of all of the Kinder Morgan companies voted to recommend the transaction to their respective unitholders and shareholders. After the transaction, KMI will have a projected dividend of $2.00 per share for 2015, a 16 percent increase over the budgeted 2014 KMI dividend target of $1.72 per share.

KMI has received all necessary regulatory approvals except its Registration Statement on Form S-4 has not yet been declared effective by the Securities and Exchange Commission. The company expects to announce the date of EPB’s unitholder meeting in the near future and continues to anticipate the transaction will close before year end. For more information on this transaction, please visit the Kinder Morgan web site at www.kindermorgan.com.

Absent a close of the proposed transaction with KMI prior to the fourth quarter record date (typically in late January), EPB would expect to declare cash distributions of $2.60 per unit for 2014. Assuming the anticipated fourth quarter close of the transaction, all KMI shareholders as of the fourth quarter record date will receive the KMI dividend for that quarter.

For earnings history and earnings-related data on El Paso Pipeline Partners (EPB) click here.

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