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Kinder Morgan 1Q profit increases 21%, helped by natural-gas-pipeline business

The company's earnings per share exceeded estimates
Men working on pipeline
The stock rose 1.6% in extended trading after the market close

Kinder Morgan Inc. (NYSE:KMI) ,  an energy transportation and storage company, said first-quarter profit climbed 21%, helped by its natural-gas-pipeline business.

Net income rose to US$485mln, or US$0.22 a share, from US$401mln, or US$0.18 a share, a year earlier, the company said in a statement today. That beat estimates of US$0.21 a share published on EarningsWhispers.com

The company also said it raised its quarterly dividend to US$0.20 a share and forecasts adjusted 2018 earnings before interest, depreciation and amortization of US$7.5bln

The stock rose 1.6% to US$16.43 in extended trading after the market close.

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