Kinder Morgan Falls After Surprise Quarterly Loss

Shares of Kinder Morgan Inc. fell Wednesday after the oil and gas infrastructure company reported a fourth-quarter loss $637 million, or 29 cents a share, versus earnings of $126 million, or 8 cents a share, in the year-ago period. Kinder Morgan's revenue hit $3.64 billion in the quarter, down from $3.95 billion in the fourth quarter of 2014. Analysts polled by FactSet had expected the oil and gas pipeline company to report earnings of 16 cents a share on sales of $3.91 billion. The company's board of directors approved a quarterly cash dividend of 12.5 cents payable on Feb. 15, down from 51 cents a share in the third quarter. Kinder Morgan reported distributable cash flow of $1.23 billion, down from $1.27 billion in the year-ago period. The FactSet analysts had expected the company to report distributable cash flow of $1.19 billion for the quarter. Shares declined 2% in late trading Wednesday after ending the regular session down 4.3%.

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