MMP
Magellan Midstream Partners, L.P.NYSE
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  • May 13, 2015, 3:49 PM
    • Energy MLPs are trading with mixed results, which is not in line with an analyst's expectation that several names in the space may be outperformers today after Williams Cos. (WMB +6.2%) agreed to buy Williams Partners (WPZ +22.7%).
    • In an earlier note to investors, Credit Suisse named Plains GP Holdings (PAGP +1%), Targa Resources (TRGP +1.1%), NuStar GP Holdings (NSH -0.1%) and Western Gas Equity (WGP -0.7%) as MLPs that could climb on the news.
    • Meanwhile, Wells Fargo says the deal is positive, since it reduces the WMB's cost of capital, will immediately increase its profits, and enhances its dividend growth outlook.
    • Among major energy MLPs: EPD -1.5%, ETP +0.9%, PAA +0.2%, EEP -0.2%, MWE +2.2%, MMP -0.3%.
    | May 13, 2015, 3:49 PM | 17 Comments
  • Apr. 15, 2015, 7:58 AM
    • JP Energy Partners (NYSE:JPEP) agrees to acquire Southern Propane, an industrial and commercial propane distribution and logistics company, for ~$15M.
    • Also, JPEP says it executed an interconnection agreement with an affiliate of Magellan Midstream Partners (NYSE:MMP) to connect its Silver Dollar Pipeline System to MMP's Longhorn pipeline, which will provide direct access from the core of the Midland Basin to Houston end markets.
    | Apr. 15, 2015, 7:58 AM
  • Nov. 6, 2014, 7:43 AM
    • Plains All American Pipeline (NYSE:PAA) agrees to acquire Occidental Petroleum's (NYSE:OXY) 50% stake in BridgeTex Pipeline for $1.075B.
    • PAA says the acquisition of the new 300K bbl/day crude oil pipeline running from the Permian Basin to the Houston Gulf coast area will strengthen its access to the Gulf coast.
    • Magellan Midstream Partners (NYSE:MMP), which owns the remaining 50% interest in BridgeTex, is buying the southern leg of the pipeline system running from Houston to Texas City for $75M.
    • OXY says the deals are part of its attempt to streamline its business.
    | Nov. 6, 2014, 7:43 AM | 1 Comment