Jan 17 (Reuters) - Pipeline and terminal operator Kinder Morgan on Wednesday posted a lower-than-expected profit for the fourth quarter, as higher interest expenses and weakness in the natural gas pipeline segment hurt margins during the period.

The company posted an adjusted profit of 28 cents per share for the quarter ended Dec. 31, compared with analysts' average estimate of 30 cents per share, according to LSEG data.

U.S. natural gas futures fell nearly 44% in 2023, its first annual fall in four years, which is also its biggest decline since 2006, dragged by record production, ample inventories in storage and relatively mild weather conditions, hitting transportation firms like Kinder Morgan.

Houston-based Kinder Morgan's adjusted core profit from the natural gas pipeline segment was down to $1.33 billion in the October-December quarter, from $1.35 billion last year.

The company raised its adjusted core profit guidance for 2024 to $1.22 per share from its previous forecast of $1.21 per share, on the inclusion of NextEra Energy Partners' STX Midstream assets, following its acquisition. (Reporting by Tanay Dhumal and Kabir Dweit in Bengaluru; Editing by Shailesh Kuber)