Ownership Submission
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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ELBERT PHILLIP
   2. Issuer Name and Ticker or Trading Symbol
INERGY L P [NRGY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President - COO Propane
(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 11/14/2011   C   291,053 A $ 0 1,057,807 I See Footnote (9)
Common Units 11/14/2011   C   63,489 A $ 0 230,744 I See Footnote (1)
Common Units 11/14/2011   C   21,103 A $ 0 76,700 I See Footnote (2)
Common Units 11/14/2011   C   21,104 A $ 0 76,701 I See Footnote (3)
Common Units               326,575 (4) D  

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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 (5) 11/14/2011   J(6)   9,091.216     (5)   (5) Common Units 9,091.216 $ 41.6854 546,638.697 I See Footnote (9)
Class B Units (5) 11/14/2011   C     291,053   (5)   (5) Common Units 291,053 $ 0 255,585.697 I See Footnote (9)
Class B Units (5) 11/14/2011   J(7)   1,983.107     (5)   (5) Common Units 1,983.107 $ 41.6854 119,240.726 I See Footnote (1)
Class B Units (5) 11/14/2011   C     63,489   (5)   (5) Common Units 63,489 $ 0 55,751.726 I See Footnote (1)
Class B Units (5) 11/14/2011   J(8)   659.186     (5)   (5) Common Units 659.186 $ 41.6854 39,635.693 I See Footnote (2)
Class B Units (5) 11/14/2011   C     21,103   (5)   (5) Common Units 21,103 $ 0 18,532.693 I See Footnote (2)
Class B Units (5) 11/14/2011   J(10)   659.186     (5)   (5) Common Units 659.186 $ 41.6854 39,635.692 I See Footnote (3)
Class B Units (5) 11/14/2011   C     21,104   (5)   (5) Common Units 21,104 $ 0 18,531.692 I See Footnote (3)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ELBERT PHILLIP
TWO BRUSH CREEK BLVD., SUITE 200
KANSAS CITY, MO 64112		   X     President - COO Propane  

Signatures

 /s/ Judy Riddle (attorney-in-fact) for Phillip L. Elbert   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. Elbert is a co-trustee of the Phillip L. Elbert 2005 Grantor Retained Annuity Trust.
(2) Mr. Elbert is a co-trustee of the Charles W. Elbert Trust U/A dated 3/31/05.
(3) Mr. Elbert is a co-trustee of the Lauren E. Elbert Trust U/A dated 3/31/05.
(4) Restricted units granted under the Inergy, L.P. Long Term Incentive Plan.
(5) 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.
(6) The reporting person received 9,091.216 Class B units as a payment-in-kind distribution on 537,547.481 Class B units owned on the distribution record date.
(7) The reporting person received 1,983.107Class B units as a payment-in-kind distribution on 117,257.619 Class B units owned on the distribution record date.
(8) The reporting person received 659.186 Class B units as a payment-in-kind distribution on 38,976.507 Class B units owned on the distribution record date.
(9) Mr. Elbert is a trustee of the Phillip L. Elbert Revocable Trust, dated 5/17/01.
(10) The reporting person received 659.186 Class B units as a payment-in-kind distribution on 38,976.506 Class B units owned on the distribution record date.

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