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 2023

Earnings data Q2 2024

Magellan Midstream Partners (MMP) reports strong Q2 results and progresses with ONEOK merger

Magellan Midstream Partners (MMP) delivered strong Q2 results, driven by higher profits from commodity-related activities and core fee-based transportation and terminal services. The pending merger with ONEOK is expected to close in Q3, and the company remains confident in the value created for unitholders. Despite challenges from refinery disruptions and opposition from some holders, the company's overall performance and investor reception have been positive.

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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.

ONEOK

Energy Income Partners opposes ONEOK's acquisition of Magellan Midstream Partners due to tax consequences and potential loss of value. The acquisition would create a larger energy infrastructure footprint in Middle America, making it more attractive for larger players. Despite opposition, the deal could benefit ONEOK shareholders by increasing margins and creating a stronger combined entity.

ONEOK And Magellan May Be Stronger Together But Face Opposition From Unitholders

Magellan Midstream unitholders should vote against the proposed acquisition by ONEOK due to unfavorable tax consequences. The deal, valued at $18.8 billion, offers a modest premium for MMP unitholders but may not be worth the tax burden, especially for long-term investors. The fit between OKE and MMP is not ideal, and the tax consequences outweigh the potential benefits of the merger.

Magellan Midstream: Long-Term Investors Should Reject The ONEOK Deal

TULSA, Okla. , June 13, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream to Participate in J.P. Morgan Energy, Power & Renewables Conference

A big Magellan holder has come out against the $19 billion deal with Oneok that would create one of the largest energy pipelines in the U.S. Taxes are a key issue.

Oneok-Magellan Midstream Deal May Be in Trouble

Asset manager Energy Income Partners LLC, one of the top shareholders in Magellan Midstream Partners , said on Thursday that it intends to vote against pipeline operator ONEOK Inc's deal to buy Magellan.

Energy Income Partners to vote against $18.8 bln ONEOK-Magellan deal

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Magellan Midstream Partners, L.P. (NYSE:MMP ) 20th Annual Energy Infrastructure CEO & Investor Conference May 23, 2022 8:20 AM ET Company Participants Aaron Milford - President & Chief Executive Officer Conference Call Participants Selman Akyol - Stifel Selman Akyol Okay.

Magellan Midstream Partners, L.P. (MMP) Presents at the 20th Annual Energy Infrastructure CEO & Investor Conference (Transcript)

ONEOK Inc and Magellan Midstream Partners merger would create the fourth largest US midstream company with combined enterprise value of $60 billion.

Magellan Midstream Is Merging And Others Will Follow

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The pipelines combination of Oneoke and Magellan requires shareholder approval from both sides. That is far from certain amid questions about the merit of the $18.8 billion transaction.

Oneok Investors Are Balking at the Magellan Deal

Magellan Midstream Partners will become a fully owned subsidiary of Oneok in the next quarter. Investors in the oil stock can still expect big dividends after the merger.

Why Magellan Midstream Partners Stock Soared 13% This Week

TULSA, Okla. , May 18, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream to Participate in the 20th Annual EIC Investor Conference

Magellan (MMP) and ONEOK join forces to create a midstream giant with a net enterprise value of $60.0 billion.

ONEOK Buys Magellan (MMP) for $18.8B, Creates Midstream Giant

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ONEOK's acquisition of Magellan Midstream Partners is the latest deal in the midstream sector. While most prior transactions have been strategically focused, this deal has a notable financial benefit.

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Magellan (MMP) projects free cash flow of $1.1 billion and net income per unit of $4.95 for 2023. It also expects refined product rates to increase 11% on Jul 1, 2023.

Magellan's (MMP) Q1 Earnings & Revenues Outpace Estimates

Shares of Magellan Midstream Partners NYSE: MMP rose by as much as 16% during the opening of Monday's trading session, while the stock's price action retreated to close the day up by 12.99%; the move is due to undeniably good news for shareholders. ONEOK NYSE: OKE has struck a deal to acquire Magellan Midstream Partners for a total sum of $18.8 billion; the transaction will be broken down into ONEOK reaching all of Magellan's outstanding common stock for a price of $67.50 per share, a term receiving the full credit of Monday's monster rally.

Magellan Midstream Partners Rallies On $18.8 Billion Merger

Shares of Magellan Midstream Partners LP (NYSE: MMP) opened 15% up on Monday after Oneok Inc (NYSE: OKE) said it will buy the petroleum products distributor for $18.8 billion.

Magellan Midstream stock opened 15% up today: explained here

Oneok stock sold off sharply over concerns about diluting shareholders and diversifying into the oil side of the oil & gas business. Time to buy?

Oneok Stock Tumbles After Megadeal for Magellan Midstream Partners

On Sunday, midstream corporation ONEOK (OKE) announced that it will acquire MLP Magellan Midstream Partners (MMP) in a cash-and-stock deal valued at $18.8 billion. The deal comes as a surprise and represents a relatively rare example of M&A among unrelated public companies in the midstream space.

OKE Acquiring MMP: Valuation Nice, Taxes Add Wrinkle

Oneok and Magellan Midstream Partners will combine to form an energy infrastructure giant. Magellan's shareholders will get a big premium, so they may want to remain invested in Oneok after the merger.

Oneok-Magellan Midstream Megamerger: Why Are Both Stocks Moving in Opposite Directions Today?

ONEOK is acquiring Magellan Midstream Partners in a cash-and-stock transaction valued at approximately $18.8 billion, creating a US oil and gas pipeline giant.  ONEOK, a publicly traded energy company based in Tulsa, has made significant acquisitions and expansions to strengthen its position in the energy infrastructure sector.

ONEOK and Magellan combine to create US pipeline giant in $18.8B deal

Natural gas pipeline operator ONEOK agreed to buy Magellan Midstream Partners, L.P. for $18.8 billion.

ONEOK Buys Magellan for $18.8 Billion to Add Oil, Refined Products

Magellan Midstream Partners (NYSE: MMP ) stock jumped over 15% over the weekend after ONEOK (NYSE: OKE ) said it will buy the pipeline company for $18.8 billion. ONEOK is offering $25 per share in cash, plus stock, to deliver $67.20 per MMP share.

MMP Stock: Why Is Magellan Midstream Up 15% Today?

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Premarket action on Monday had the three major U.S. indexes trading higher. The Dow Jones industrials were up 0.37%, the S&P 500 up 0.36% and the Nasdaq 0.26% higher.

News for Magellan Midstream Partners Stock (MMP)