Michael Fitzsimmons • 27 Comments
Michael Fitzsimmons • 45 Comments
Michael Fitzsimmons • 44 Comments
Mon, Apr. 4, 3:17 PM
- Magellan Midstream Partners (MMP -2.9%) is downgraded to Hold from Buy with a $68 price target at Wunderlich, which says that, despite its ability to grow profits and distributions to shareholders, it does not see much room for upside in the shares.
- The firm says it is encouraged by MMP's outlook to generate more EBITDA from existing assets, but while the company needs only $300M-$500M annual capex to achieve 8%-10% distribution growth and growth opportunities remain, the figures already were mostly factored into its expectations
- Separately, MMP and TransMontaigne Partners (TLP +0.7%) say they are jointly assessing a 150-mile diameter pipeline capable of moving 150K bbl/day of refined products.
- Now read Credit Suisse downgrades 12 MLPs as rally plays out
Jul. 10, 2014, 6:54 PM| Jul. 10, 2014, 6:54 PM
Jun. 5, 2013, 12:47 PM
TransMontaigne Partners (TLP -1.3%) announces a 900K-barrel expansion at the Battleground Oil Specialty Terminal under construction on the Houston Ship Channel. The ~$54M expansion is supported by a long-term leased storage and handling services contract with Morgan Stanley Capital. Kinder Morgan Partners (KMP -2.8%) owns a 55% stake in the complex, with TLP holding the remainder.| Jun. 5, 2013, 12:47 PM