Master

Master limited partnerships (MLPs) are expanding organically and through acquisitions like never before, resembling the build-`up of the energy merchant sector in the late 1990s, according to a new report by Fitch Ratings. The sector also has caught the eye of private equity firms, which are buying ownership stakes in MLPs, which may change the outlook for the industry.

Master limited partnerships (MLPs) are expanding organically and through acquisitions like never before, resembling the build-`up of the energy merchant sector in the late 1990s, according to a new report by Fitch Ratings. The sector also has caught the eye of private equity firms, which are buying ownership stakes in MLPs, which may change the outlook for the industry.

Energy-related master limited partnerships (MLPs), such as Kinder Morgan Energy Partners (KMP) and Enterprise Products Partners LP, may see an upsurge in business once tax changes passed by Congress this month take effect.

Earnings from subsidiaries and ownership in its master limited partnership sent earnings at Kinder Morgan Inc. (KMI) up 17% during the third quarter compared with a year ago. The Houston-based company topped Wall Street estimates by 2 cents/share, with net income of $111.9 million (90 cents/share), compared with $95.6 million (77 cents) in 3Q2003.

Energy-related master limited partnerships (MLPs), such as Kinder Morgan Energy Partners (KMP) and Enterprise Products Partners LP, may see an upsurge in business once tax changes passed by Congress this month take effect.

Earnings from subsidiaries and ownership in its master limited partnership sent earnings at Kinder Morgan Inc. (KMI) up 17% during the third quarter compared to 3Q2003. The Houston-based company topped Wall Street estimates by 2 cents/share, with net income of $111.9 million (90 cents/share), compared with $95.6 million (77 cents) in 3Q2003.

El Paso Corp. said it paid out $570 million in cash on June 11 under a master agreement to settle charges that its subsidiaries manipulated natural gas and power prices in California and other western states during a span of more than six years.

El Paso Corp. said it paid out $570 million in cash Friday under a master agreement to settle charges that its subsidiaries manipulated natural gas and power prices in California and other western states during a span of more than six years.

The cash market on Wednesday was jerked around like a bull whip by its out-of-control master, the gas futures market on the New York Mercantile Exchange. As futures popped nearly 40-cents higher at the open and soared to the incredible height of $7.55 Wednesday morning before collapsing shortly thereafter, the cash market was dragged behind, albeit at a significant distance. The run-up produced massive trading ranges as sellers scrambled to unload what they could before the show was over.