Natural gas pipeline operator Energy Transfer Partners L.P. said Monday its first-quarter profit rose as sales grew at its core gas operations and at its retail propane division.
For the three months ended March 31, Energy Transfer Partners reported net income rose to $328.3 million, or $1.34 per share, from $311.1 million, or $1.33 per share, during the same period a year earlier.
Analysts predicted earnings of $1.19 per share, according to a survey by Thomson Financial.
Revenue increased to $2.64 billion from $2.06 billion. Analysts predicted revenue of $2.58 billion.
Natural gas sales jumped to $2.01 billion from $1.49 billion, while retail propane sales increased to $598.14 million from $499.25 million.
Energy Transfer Partners shares rose 51 cents to close at $50.37.
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