FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * HUGHES CARL A   2. Issuer Name and Ticker or Trading Symbol INERGY L P [NRGY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP - Business Development (Last) (First) (Middle) TWO BRUSH CREEK BLVD., SUITE 200 3. Date of Earliest Transaction (Month/Day/Year) 11/14/2011 (Street) KANSAS CITY, MO 64112 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Units               5,998.7468 I By Unit Purchase Plan Common Units               23,100 (2) D   Common Units 11/14/2011   C   336,573 A $ 0 1,314,476 I As Trustee of the Carl A. Hughes Revocable Trust (1) Common Units 11/14/2011   C   97,669 A $ 0 304,971 I As Trustee of the Carl A. Hughes GRAT (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Class B Units

(4)

11/14/2011

J(5)

10,513.044

(4)

(4)

Common Units

10,513.044

$ 41.6854

632,130.696

I

As Trustee of the Carl A. Hughes Revocable Trust (1)

Class B Units

(4)

11/14/2011

C

336,573

(4)

(4)

Common Units

336,573

$ 0

295,557.696

I

As Trustee of the Carl A. Hughes Revocable Trust (1)

Class B Units

(4)

11/14/2011

J(6)

3,050.746

(4)

(4)

Common Units

3,050.746

$ 41.6854

183,435.92

I

As Trustee of the Carl A. Hughes GRAT (3)

Class B Units

(4)

11/14/2011

C

97,669

(4)

(4)

Common Units

97,669

$ 0

85,766.92

I

As Trustee of the Carl A. Hughes GRAT (3)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HUGHES CARL A TWO BRUSH CREEK BLVD. SUITE 200 KANSAS CITY, MO 64112			SVP - Business Development

Signatures

/s/ Judy Riddle (attorney-in-fact) for Carl A. Hughes		11/16/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Mr. Hughes is the trustee of the Carl A. Hughes Revocable Trust.
(2)	Includes restricted units granted under the Inergy, L.P. Long Term Incentive Plan, as amended.
(3)	Mr. Hughes is a co-trustee of the Carl A. Hughes 2005 Grantor Retained Annuity Trust.
(4)	The Class B units will convert automatically into common units on a one-for-one basis, with 50% of the outstanding Class B units converting into common units following the payment date of the fourth quarterly distribution following the closing of the merger and the remaining outstanding Class B units converting into common units following the payment date of the eighth quarterly distribution following the closing of the merger.
(5)	The reporting person received 10,513.044 Class B units as a payment-in-kind distribution on 621,617.652 Class B units owned on the distribution record date.
(6)	The reporting person received 3,050.746 Class B units as a payment-in-kind distribution on 180,385.174 Class B units owned on the distribution record date.
Remarks: Contributions to the EUPP plan are used to purchase Inergy, L.P. Common Units at the end of each quarter. On January 12, 2004, the Common, Senior Subordinated and Junior Subordinated Units of Inergy, L.P. underwent a two-for-one split.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.