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.

Magellan Midstream Partners' (MMP) second-quarter earnings and revenues beat estimates.

Magellan Midstream (MMP) Earnings & Sales Beat Estimates in Q2

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Magellan recently reported Q2 earnings which confirmed the bullish thesis. They closed the sale of the independent terminals in June for $447M, which is likely to go toward continued unit buybacks.

Magellan Midstream Partners: Still Cheap And Still Buying Back Units

Magellan Midstream Partners LP (NYSE:MMP ) Q2 2022 Earnings Conference Call July 28, 2022 1:30 PM ET Company Participants Aaron Milford - President, CEO & Director Jeffrey Holman - Principal Accounting Officer, Senior VP, CFO & Treasurer Conference Call Participants Theresa Chen - Barclays Jeremy Tonet - JPMorgan Keith Stanley - Wolfe Research Praneeth Satish - Wells Fargo Neel Mitra - BofA Securities Michael Cusimano - Pickering Energy Partners James Carreker - U.S. Capital Advisors Michael Lapides - Goldman Sachs Operator Greetings, and welcome to the Magellan Midstream Partners Second Quarter Earnings Conference Call. During the presentation, all participants will be in a listen-only mode.

Magellan Midstream Partners LP (MMP) CEO Aaron Milford on Q2 2022 Results - Earnings Call Transcript

TULSA, Okla. , July 28, 2022 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream Reports Second-Quarter 2022 Financial Results

Magellan Midstream Partners (MMP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Is a Surprise Coming for Magellan Midstream Partners (MMP) This Earnings Season?

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Magellan Midstream and Enbridge are both midstream businesses with very stable cash-flowing business models. MMP's yield is ~230 basis points greater than ENB's and they both have sector-leading BBB+ credit ratings. That said, ENB issues a 1099 whereas MMP issues a K1.

Better Buy: Magellan Midstream's 8.5% Yield Or Enbridge's 6.2%

Higher refined products shipments and an increase in fee-based revenues are likely to have boosted Magellan Midstream's (MMP) profit levels in the second quarter.

Is Magellan (MMP) Poised for Another Earnings Beat This Q2?

Magellan Midstream Partners is trading like energy prices are not at historic highs. MMP yields 8.5% all while executing on an aggressive unit repurchase program - though unit repurchases should slow moving forward.

Magellan Midstream Partners Yields 8.5% And Is Buying Back Units

Magellan Midstream (MMP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Magellan Midstream (MMP) Moves to Strong Buy: Rationale Behind the Upgrade

TULSA, Okla. , July 21, 2022 /PRNewswire/ -- The board of directors of Magellan Midstream Partners, L.P.

Magellan Midstream Declares Cash Distribution of $1.0375 for Second Quarter 2022

Magellan Midstream (MMP) announces an extension of its open season to solicit customer commitments for a potential expansion of its refined petroleum products pipeline system from Houston to El Paso, TX.

Magellan (MMP) Extends Open Season for Pipeline Expansion

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TULSA, Okla. , July 15, 2022 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream Extends Open Season to July 29 for Potential Expansion of Refined Products Pipeline System to El Paso

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Magellan is positioned to benefit from decades of continued demand for refined products and crude oil. The company's strong free cash flow generation funds its 8.8% dividend yield.

Inflation Won't Interrupt Cash Flows For Magellan Midstream

This company's ability to consistently adjust its tariffs means it is well positioned to deliver strong cash flows even in a high inflation environment.

Inflation Won't Interrupt Cash Flows For Magellan Midstream Partners

The proposed project by Magellan (MMP) includes the expansion of a 265-mile pipeline segment between Odessa and El Paso.

Magellan (MMP) Extends Open Season for Texas Pipeline Expansion

TULSA, Okla. , June 29, 2022 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream to Announce Second-Quarter 2022 Financial Results on July 28

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TULSA, Okla. , June 24, 2022 /PRNewswire/ -- Magellan Midstream Partners, L.P.

Magellan Midstream Extends Open Season to July 15 for Potential Expansion of Refined Products Pipeline System to El Paso

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News for Magellan Midstream Partners Stock (MMP)