Magellan Midstream Partners, L.P. (MMP) - NYSE
  • 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
Company Description
Magellan Midstream Partners LP is engaged in the transportation, storage and distribution of petroleum products, such as gasoline, diesel fuel and crude oil. The company operates through three segments: Refined Products, Crude Pipeline and Marine Storage. The refined products segment is... More
Industry: Oil & Gas Pipelines
Country: United States