BUZZ-Kinder Morgan falls after missing third-quarter profit expectations

Reuters10-17 18:05

** Shares of pipeline operator Kinder Morgan fall 2% to $24.42 premarket

** Co misses Q3 profit estimates hurt by weaker commodity prices and lower crude volumes

** KMI posts Q3 adj. profit of 25 cents per share vs analysts' estimates of 27 cents per share - LSEG

** Co also projects annual adj. core profit to be 2% below its initial forecast of $8.16 billion

** "KMI shares may underperform early in the day on the miss...however, we still believe KMI should benefit in the long-term from natural gas demand growth," - RBC Capital Markets analyst Elvira Scotto says

** The overall natural gas market could grow by 25 billion cubic feet per day over the next five years - KMI CEO Kimberly Dang said on a post-earnings conference call on Wednesday

** As of last close, stock had gained 41.3% YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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