(Adds analyst estimates)
Jan 18 (Reuters) - Kinder Morgan Inc (NYSE:KMI) KMI.N reported lower-than-expected quarterly revenue for the ninth straight quarter as its pipelines moved lower volumes of oil and gas.
Pipeline companies, once seen as more insulated from commodity price swings due to fixed-fee contracts, were hit hard by a more than 60 percent slump in oil prices since mid-2014 as cash-strapped oil and gas companies renegotiated their contracts.
Kinder Morgan reported a net profit attributable to shareholders of $170 million, or 8 cents per share, in the fourth quarter ended Dec. 31, compared with a loss of $721 million, or 32 cents per share, a year earlier. company said it gained $988 million in the fourth quarter related to natural gas assets compared to a year earlier. The year-ago quarter also included a $1.15 billion impairment charge.
According to Thomson Reuters I/B/E/S, the company earned 18 cents per share on an adjusted basis, in line with analysts' average estimate.
Revenue fell to $3.39 billion from $3.64 billion, missing analysts' average estimate of $3.54 billion.