HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported third-quarter net income of $506 million.
On a per-share basis, the Houston-based company said it had profit of 22 cents.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 22 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $3.21 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $3.51 billion.
Kinder Morgan shares have increased 30% since the beginning of the year, while the Standard & Poor's 500 index has increased 19%. In the final minutes of trading on Wednesday, shares hit $20.02, a climb of 12% in the last 12 months.