Kinder Morgan reports higher quarterly profit

Kinder Morgan Energy Partners LP , the largest U.S. pipeline company, on Wednesday said its profit in the third quarter rose sharply, helped by acquisitions.

The Houston-based master limited partnership reported net income of $697 million, up from $383 million a year earlier.

Kinder Morgan increased its quarterly distribution to $1.35 per unit, slightly above Wall Street expectations for $1.34 per share, according to Thomson Reuters I/B/E/S.

(Reporting By Anna Driver; Editing by Bernard Orr)