Edition:
United States

Magellan Midstream Partners LP (MMP.N)

MMP.N on New York Stock Exchange

64.84USD
18 Aug 2017
Change (% chg)

$-0.01 (-0.02%)
Prev Close
$64.85
Open
$64.85
Day's High
$65.27
Day's Low
$64.35
Volume
101,199
Avg. Vol
156,345
52-wk High
$81.75
52-wk Low
$64.27

Latest Key Developments (Source: Significant Developments)

Magellan Midstream Partners posts Q2 EPS of $0.92
Wednesday, 2 Aug 2017 08:29am EDT 

Aug 2 (Reuters) - Magellan Midstream Partners Lp :Magellan midstream reports 12% higher second-quarter net income.Q2 non-gaap earnings per share $0.91 excluding items.Q2 earnings per share $0.92.Q2 earnings per share view $0.89 -- Thomson Reuters I/B/E/S.Magellan midstream partners lp - qtrly ‍total revenue $518.9 million versus $619.4 million.Magellan midstream partners- partnership expects to spend $600 million in 2017 and $400 million in 2018 to complete its current slate of construction projects.Magellan midstream partners lp-as a result of strong financial performance to date, management is increasing its annual dcf guidance to $1.02 billion for 2017.Net income per limited partner unit is estimated to be $3.85 for 2017, with third-quarter guidance of $0.90.Magellan midstream partners lp says magellan still expects its new marine facility in pasadena, texas to become operational in early 2019.Magellan midstream partners lp - bridgetex may further expand capacity of pipeline system up to approximately 440,000 bpd.  Full Article

Magellan midstream increases quarterly cash distribution to 89 cents
Thursday, 20 Jul 2017 09:40am EDT 

July 20 (Reuters) - Magellan Midstream Partners Lp :Magellan Midstream increases quarterly cash distribution to 89 cents.Magellan Midstream Partners Lp - ‍second-quarter 2017 distribution is 9 percent higher than second-quarter 2016 distribution of 82 cents per unit​.  Full Article

BridgeTex Pipeline launches open season for expanded capacity
Thursday, 6 Jul 2017 08:59am EDT 

July 6 (Reuters) - Magellan Midstream Partners Lp :BridgeTex Pipeline launches open season for expanded capacity.Magellan Midstream Partners Lp - BridgeTex Pipeline was recently expanded from 300,000 barrels per day to a capacity of 400,000 bpd.Magellan Midstream Partners Lp - BridgeTex may further expand capacity of pipeline system up to approximately 440,000 bpd.Magellan Midstream -BridgeTex Pipeline recently expanded from 300,000 bpd to a capacity of 400,000 bpd to deliver permian basin crude oil to Houston Gulf Coast Area.Magellan Midstream Partners Lp - all potential customers must submit binding commitments by Aug. 4, 2017.  Full Article

Magellan Midstream Partners says entered into an equity distribution agreement pursuant to which it may sell common units of up to $750 mln - SEC Filing
Thursday, 4 May 2017 05:52pm EDT 

May 4 (Reuters) - Magellan Midstream Partners LP :Says entered into an equity distribution agreement pursuant to which it may sell common units of up to $750 million - SEC Filing.  Full Article

Magellan Midstream reports higher first-quarter financial results
Wednesday, 3 May 2017 08:29am EDT 

May 3 (Reuters) - Magellan Midstream Partners Lp :Magellan Midstream reports higher first-quarter financial results.Q1 non-gaap earnings per share $0.96 excluding items.Q1 earnings per share $0.98.Q1 earnings per share view $0.90 -- Thomson Reuters I/B/E/S.Magellan Midstream Partners expects to spend $600 million in 2017, $350 million in 2018 to complete current slate of construction projects.Magellan reaffirms its annual dcf guidance of $1.0 billion for 2017.Magellan expects to begin generating revenue from condensate splitter during second half of 2017.Magellan qtrly total revenue $519.8 million versus $642.1 million.Q1 revenue view $554.4 million -- Thomson Reuters I/B/E/S.Magellan midstream partners lp - net income per limited partner unit is estimated to be $3.75 for 2017, with second-quarter guidance of 85 cents.Fy2017 earnings per share view $3.88 -- Thomson Reuters I/B/E/S.Q2 earnings per share view $0.92 -- Thomson Reuters I/B/E/S.  Full Article

Magellan Midstream increases quarterly cash distribution to 87.25 cents
Thursday, 20 Apr 2017 09:19am EDT 

April 20 (Reuters) - Magellan Midstream Partners Lp :Magellan Midstream increases quarterly cash distribution to 87.25 cents.Magellan Midstream Partners LP - First-quarter 2017 distribution is 9% higher than first-quarter 2016 distribution of 80.25 cents per unit.  Full Article

Magellan Midstream announces new agreement for condensate splitter
Tuesday, 21 Mar 2017 04:25pm EDT 

Magellan Midstream Partners Lp - : Magellan Midstream announces new agreement for condensate splitter, reaffirms 2017 financial guidance . Magellan Midstream announces new agreement for condensate splitter, reaffirms 2017 financial guidance . Says based on new agreement, Magellan expects to begin commercial operation of splitter during late Q2 2017 . Commodity margins have recently contracted, resulting in management's reaffirmed guidance of $1.0 billion Dcf for fy 2017 . New agreement was entered into as part of an amicable resolution of dispute between parties under previous contract . Magellan has dismissed its lawsuit against Trafigura as part of such resolution . Based on new agreement, Magellan expects to begin commercial operation of splitter during late q2 2017 . Entered new fee-based, take-or-pay agreement with Trafigura Trading LLC for exclusive use of co's condensate splitter . In conjunction with new agreement, co increasing expected capital spending for project to $330 million from $300 million .Based on new spending estimates for splitter, Magellan expects to generate a 7 times EBITDA multiple on its investment.  Full Article

Magellan Midstream Q4 non-gaap earnings per share $1.04 excluding items
Thursday, 2 Feb 2017 08:34am EST 

Magellan Midstream Partners LP : Magellan midstream reports higher fourth-quarter financial results . Q4 non-gaap earnings per share $1.04 excluding items . Q4 earnings per share view $0.96 -- Thomson Reuters I/B/E/S . Q4 earnings per share $0.93 . Magellan midstream - partnership expects to spend $550 million in 2017 and $350 million in 2018 to complete its current slate of construction projects . "partnership fully expects to generate some level of profitability from condensate splitter this year" . Magellan midstream partners lp says currently expects to generate annual dcf of $1.0 billion in 2017 . Magellan midstream partners lp- management is also targeting annual distribution growth of 8% for 2018 . Magellan midstream partners lp says management remains committed to its previously-stated goal of increasing annual cash distributions by 8% for 2017 . Magellan midstream partners- carr-to-platteville segment of saddlehorn pipeline is nearing completion, with linefill expected to begin in late Feb . Magellan midstream partners lp says net income per limited partner unit is estimated to be $3.75 for 2017, with first-quarter guidance of 90 cents . Magellan midstream partners- Magellan's share of spending for Saddlehorn pipeline expected to be about $220 million, or $10 million lower than estimates . Magellan midstream partners lp - also continues to evaluate well in excess of $500 million of potential organic growth projects.  Full Article

ALPS advisors reports 6.19 percent passive stake in Magellan Midstream Partners LP as on Dec 31, 2016
Thursday, 26 Jan 2017 11:07am EST 

Magellan Midstream Partners Lp :Alps Advisors, Inc reports 6.19 percent passive stake in Magellan Midstream Partners LP as on December 31, 2016 -SEC filing.  Full Article

Ops on affected pipeline remain suspended after diesel spill in Iowa - Magellan Midstream
Thursday, 26 Jan 2017 11:00am EST 

Magellan Midstream Partners : Magellan Midstream says operations on a segment of pipeline system in the area remain suspended after diesel spill in Iowa . Magellan Midstream says expects to begin pipeline repairs later Thursday; no estimate for when pipeline operations will resume Magellan Midstream Partners said on Wednesday it shut its pipeline in Worth County, Iowa, after spilling about 3,300 barrels of diesel fuel earlier in the day. [nL1N1FF20V] (Reporting by Nithin Prasad in Bengaluru) ((BLRCEEditorial@thomsonreuters.com;)).  Full Article