HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported fourth-quarter net income of $610 million.
The Houston-based company said it had profit of 27 cents per share. Earnings, adjusted for non-recurring gains, came to 26 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 26 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $3.35 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.72 billion.
For the year, the company reported profit of $2.19 billion, or 96 cents per share. Revenue was reported as $13.21 billion.
Kinder Morgan shares have declined 1% since the beginning of the year, while the Standard & Poor's 500 index has risen almost 3%. In the final minutes of trading on Wednesday, shares hit $20.96, a climb of 19% in the last 12 months.