Continuing our countdown of the Top 10 MLP’s of 2010, coming in at Number 3 on our list is Kinder Morgan [KMP].

Kinder Morgan is probably the safest MLP on the market today and has been around since 1992 and despite a few minor set backs, the company has really hit its stride over the past few years.  Currently offering a dividend of $4.20 per share [6.5% Yield] this MLP is a must own for any MLP enthusiast.  The company is extremly well run and has a bright future.  Here is our report from the end of 2009.

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The Good:

Kinder Morgan is simply the best run MLP in the business today.  KMP sports a nice dividend of over $4 per share and that dividend is safe as KMP delivers a high cash flow every quarter.  KMP is one of the largest pipeline MLP’s and despite being a large MLP still has room to grow.  No MLP transfers or stores energy better than KMP.  The company has over a billion dollars on the books to finance projects and make further acquisitions.  This is a great position to be in and their debt is a non-factor.  We think Chairman Rick Kinder is the best in the business.

The Bad:

Kinder Morgan should be in good position but a couple of set backs to new projects could hurt the bottom line.

The Lowdown:

The best in the biz right now with a solid and safe dividend.

Company Basics:

Kinder Morgan Energy Partners, L.P. (KMP) is a pipeline transportation and energy storage company in North America. The Company owns an interest in or operate more than 26,000 miles of pipelines and approximately 170 terminals. The pipelines transport natural gas, gasoline, crude oil, carbon dioxide and other products, and the terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also a provider of carbon dioxide for the oil recovery projects in North America.

Info:

Kinder Morgan Energy Partners LP

500 Dallas Street Suite 1000

Houston, TX 77002

Phone: 713-369-9000