Magellan Midstream Partners

Magellan Midstream Partners LP engages in the transportation, storage, and distribution of petroleum products. It operates through the following segments: Refined Products and Crude Oil. The Refined Products segment consists of an approximately 9,800-mile refined petroleum products pipeline system with 54 terminals and two marine storage terminals. The Crude Oil segment consists of approximately 2,200 miles of crude oil pipelines, a condensate splitter and 39 million barrels of aggregate storage capacity, of which approximately 29 million barrels are used for contract storage. The company was founded in August 2000 and is headquartered in Tulsa, OK.

Earnings data Q2 2024

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Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 95 million barrels of petroleum products such as gasoline, diesel fuel and crude oil.  Its assets transport, store, and distribute refined petroleum products and crude, generating a fee-based cash flow stream. Among the assets are the country's longest petroleum pipeline network and a number of crude oil pipelines. Refined products account for roughly 70% of operating margin, with the remainder primarily comprised of crude-oil pipelines. Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates in three segments: Refined Products, Crude Oil, and Marine Storage. The company operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; leases pipeline and storage tank capacity to shippers; and provides services, including terminalling, ethanol and biodiesel loading and unloading, additive injection, custom blending, laboratory testing, and data services. It also owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide distribution, storage, blending, inventory management, and additive injection services for refiners and other end-users of petroleum products.

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LEAWOOD, KS / ACCESSWIRE / September 25, 2023 / TortoiseEcofin today announced a revision of timing of the removal of Magellan Midstream Partners, L.P. (NYSE:MMP) from the Tortoise MLP Index ® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP) as a result of the approved acquisition by ONEOK, Inc. (NYSE:OKE).

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TULSA, Okla. , Sept. 25, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) (ONEOK) today announced that it has completed its acquisition of Magellan Midstream Partners, L.P.

ONEOK Announces Completion of Magellan Midstream Partners Acquisition

Magellan Midstream holders have approved the acquisition deal by ONEOK, despite concerns over tax consequences. The deal will create a more diversified company, with ONEOK bringing natural gas and natural gas liquids to the table. The combined company is expected to generate about $6.1 billion in adjusted EBITDA in 2024, valuing it at roughly 10x 2024 EBITDA.

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The proposed transaction involves the acquisition of all outstanding units of Magellan Midstream (MMP) by ONEOK through a mixture of cash and stock.

Magellan Midstream (MMP) Unitholders OK ONEOK Merger Deal

The $19 billion transaction was was approved at a unit holder meeting Thursday, despite some investor opposition to the deal.

Magellan Midstream Unit Holders Back Deal With Oneok

Magellan Midstream Partners' unitholders on Thursday voted in favour of the U.S. pipeline operator's planned sale to larger peer ONEOK Inc for $18.8 billion.

Magellan Midstream holders approve $18.8 billion sale to ONEOK

Transaction to Close on September 25, 2023 TULSA, Okla. , Sept. 21, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) ("ONEOK") and Magellan Midstream Partners, L.P.

ONEOK Shareholders and Magellan Unitholders Approve Merger

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ALPS Advisors, which runs a big ETF, backs Magellan's deal with Oneok but many retail investors oppose it. The vote is Thursday.

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Magellan Midstream Partners has pressed its case for the $19 billion deal, citing strategic benefit and downplaying tax issues ahead of next week's vote.

Magellan Appears to Be Winning Shareholder Backing for Oneok Deal

TULSA, Okla. , Sept. 11, 2023 /PRNewswire/ -- The board of directors of Magellan Midstream Partners, L.P.

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TULSA, Okla. , Sept. 7, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that the two leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co. (Glass Lewis), have recommended that ONEOK shareholders vote in favor of all proposals related to ONEOK's pending acquisition of Magellan Midstream Partners, L.P.

Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend ONEOK Shareholders Vote "FOR" Pending Acquisition of Magellan Midstream Partners

Follows recommendation from Glass Lewis that unitholders vote "FOR" the transaction TULSA, Okla. , Sept. 7, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Leading Independent Proxy Advisory Firm ISS Recommends Magellan Midstream Unitholders Vote "FOR" the Transaction with ONEOK

Magellan urges unitholders to vote "FOR" the pending merger today TULSA, Okla. , Sept. 7, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Leading Independent Proxy Advisory Firm Glass Lewis Recommends Magellan Midstream Unitholders Vote "FOR" the Transaction with ONEOK

When a company agrees to be acquired, there's often a premium built into the takeout price. Investors usually bid a stock up toward the purchase offer.

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HOUSTON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that Enterprise Products Partners L.P. (NYSE: EPD) and Magellan Midstream Partners, L.P. (NYSE: MMP) have extended their fee waiver arrangement between the Enterprise Crude Houston (“ECHO”) and Magellan East Houston (“MEH”) terminals to transfer crude oil delivered through ICE's Midland WTI futures contract (ICE: HOU) until December 31,.

Enterprise and Magellan's Terminal Transfer Fee Waiver for ICE Midland WTI (HOU) Extended Through 2024 as HOU Trades at Record Levels During August

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Amid a dreary September, investors must buy stocks such as Centerspace (CSR), Magellan Midstream Partners (MMP), Invitation Home (INVH), Trinity Capital (TRIN) and Runway Growth Finance (RWAY) for a steady income.

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Transaction delivers full value to Magellan unitholders and provides unitholders with ownership in a stronger combined company Combined company better positioned to address secular risks and achieve strong growth and value creation over the long term Board carefully considered alternative opportunities, structures and tax implications Magellan urges unitholders to vote "FOR" the pending merger today TULSA, Okla. , Aug. 29, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P.

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Here is how Magellan Midstream Partners (MMP) and Seadrill (SDRL) have performed compared to their sector so far this year.

News for Magellan Midstream Partners Stock (MMP)