El Paso Pipeline Partners Missed Q2 Estimates, Top Line Up 9%

- El Paso Pipeline Partners Missed Q2 Estimates, Top Line Up 9%



Aug 4, 2011

El Paso Pipeline Partners (NYSE:EPB) reported Q2 EPS of $0.50, missing consensus estimates of $0.54 per share. Revenues for the quarter rose 9.1% year-over-year to $358.0 million, missing consensus estimates of $360.8 million.

Jim Yardley, president and chief executive officer of El Paso Pipeline Partners said, "We continue to deliver superior results for our unitholders with another quarter of higher earnings and cash flow. Our portfolio of high-quality assets continues to grow through acquisitions and expansions. During the quarter, we completed the acquisition of additional interests in CIG and SNG, and now own 100 percent of SNG. We also placed into service additional expansion projects which brings our total to fourteen in less than three years. Our successful acquisitions and expansions have enabled us to deliver consistent distribution growth, as we have increased quarterly distributions every quarter since our IPO in 2007."

El Paso Pipeline Partners has a potential upside of 19.4% based on a current price of $35.29 and an average consensus analyst price target of $42.15.

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El Paso Topped Q2 EPS Estimates By $0.10 Per Share

- El Paso Topped Q2 EPS Estimates By $0.10 Per Share



Aug 4, 2011

El Paso (NYSE:EP) reported Q2 EPS of $0.34, ahead of consensus estimates of $0.24 per share.

Doug Foshee, chairman, president, and chief executive officer of El Paso Corporation said, "We are very pleased with our financial and operational performance. With the completion of our Ruby Pipeline, we have placed three major projects into service this year and will complete two more by year end. And with natural gas likely to be the cornerstone for growth in electric power development, we continue to see exciting growth opportunities on the horizon. Execution in our E&P business is outstanding, with oil programs ramping up with results that are equal to or better than expectations. We are very encouraged by the completion of our first 7,000 foot plus lateral in the Wolfcamp Shale, and we see this program delivering many years of very profitable development across our large acreage position. On the financial front, we continue to make excellent progress, improving our balance sheet primarily through drop downs to El Paso Pipeline Partners. This progress has put us in position to separate into two outstanding companies by year end. We believe this is a great time to be a shareholder of El Paso."

El Paso has a potential upside of 27.7% based on a current price of $19.49 and an average consensus analyst price target of $24.89.

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