Key Developments: Magellan Midstream Partners LP (MMP.N)

MMP.N on New York Stock Exchange

56.48USD
1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

Magellan Midstream Partners LP Increases Quarterly Cash Distribution
Thursday, 25 Jul 2013 09:11am EDT 

Magellan Midstream Partners LP announced that the second-quarter 2013 distribution is 13% higher than the second-quarter 2012 distribution of 47.125 cents per unit and represents a 5% increase over the first-quarter 2013 distribution of 50.75 cents. The new distribution, which equates to $2.13 per unit on an annualized basis, will be paid August 14 to unitholders of record at the close of business on August 7.  Full Article

Koninklijke Vopak NV And Magellan Midstream Partners LP Jointly Assess Development Of Houston Gulf Coast Storage
Monday, 15 Jul 2013 08:00pm EDT 

Koninklijke Vopak NV (Vopak) announced that together with Magellan Midstream Partners LP (Magellan) it is to assess the development of a deep water storage and handling facility in the Houston Gulf Coast area. Under a recently signed joint development agreement, the parties will engage in a feasibility study for a new storage terminal along the Houston Ship Channel to store and handle crude oil, refined products and ethanol. The proposed deep water tank storage terminal would be located on land currently owned by Vopak in Deer Park, Texas and would consist of tank terminal infrastructure including a range of tanks, barge and ship docks facilitating high speed loading rates. In addition, the strategic location along the Houston Ship Channel is characterized amongst others by maximum draft (45 feet), rail access (including unit train capability), automatic truck loading facilities and connectivity to Magellan’s refined products and crude oil pipeline systems.  Full Article

Magellan Midstream Partners LP Closes Texas-New Mexico Pipeline Assets Acquisition From Plains All American Pipeline LP
Monday, 1 Jul 2013 02:21pm EDT 

Magellan Midstream Partners LP announced that it has closed on its previously-announced acquisition of pipeline assets in Texas and New Mexico from Plains All American Pipeline LP. The pipeline system includes approximately 250 miles of common carrier pipeline that transports refined petroleum products from El Paso, Texas, delivering products north to Albuquerque, New Mexico and transporting products south to the U.S.-Mexico border for delivery within Mexico via a third-party pipeline. Magellan's acquisition of the previously-announced Rocky Mountain pipeline system is pending, subject to approval by the Federal Trade Commission. The Rocky Mountain acquisition includes approximately 550 miles of common carrier pipeline that distributes refined petroleum products in Colorado, South Dakota and Wyoming. Of the previously-announced combined purchase price of $190 million, $57 million was allocated to the Texas-New Mexico pipelines, which Magellan funded with cash on hand.  Full Article

Magellan Midstream Partners LP Raises FY 2013 EPS Guidance; Issues Q2 2013 EPS Guidance Below Analysts' Estimates
Thursday, 2 May 2013 08:30am EDT 

Magellan Midstream Partners LP announced that including actual results for first quarter, net income per limited partner unit is estimated to be $2.25 for fiscal 2013, with second-quarter 2013 guidance of $0.52. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.21 for fiscal 2013 and $0.55 for second quarter of 2013.  Full Article

Magellan Midstream Partners LP Increases Quarterly Cash Distribution To 50.75 Cents
Thursday, 25 Apr 2013 09:14am EDT 

Magellan Midstream Partners LP announced that it has increased the partnership's quarterly cash distribution to 50.75 cents per unit for the period Janurary 1, 2012 through March 31, 2013. The new distribution, which equates to $2.03 per unit on an annualized basis, will be paid May 15, 2013 to unitholders of record at the close of business on May 8, 2013.  Full Article

Magellan Midstream Partners LP Issues FY, Q1 2013 EPS Guidance Below Analysts' Estimates
Tuesday, 5 Feb 2013 08:02am EST 

Magellan Midstream Partners LP announced that for fiscal 2013, it expects net income per limited partner unit (EPS) to be $2.20, with first-quarter guidance of 2013, of 45 cents. Guidance excludes future NYMEX MTM adjustments on the partnership's commodity-related activities. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.21 for fiscal 2013 and $0.49 for the first quarter of 2013.  Full Article

Magellan Midstream Partners LP Increases Quarterly Cash Distribution To 50 Cents
Tuesday, 22 Jan 2013 02:21pm EST 

Magellan Midstream Partners LP announced that it has increased the partnership's quarterly cash distribution to 50 cents per unit for the period Oct. 1 through Dec. 31, 2012.  Full Article

Magellan Midstream Partners LP Prices $250 Million, 30-Year Debt Offering
Friday, 2 Nov 2012 02:49pm EDT 

Magellan Midstream Partners LP announced that it has priced a $250 million public offering of 4.20% senior notes due Dec. 1, 2042 at a price of approximately 99.338% of par to yield 4.239% to maturity. The partnership intends to use the net proceeds from this offering of approximately $245.7 million, after underwriting discounts and estimated offering expenses, for general partnership purposes, including capital expenditures and investments in interest bearing securities or accounts. The offering is expected to close on Nov. 9, 2012 and is subject to customary closing conditions. Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are joint book-running managers for the debt offering, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC, UBS Securities LLC and U.S. Bancorp Investments, Inc. acting as co-managers.  Full Article

Magellan Midstream Partners LP Lowers FY 2012 EPS Guidance; Issues Q4 2012 EPS Guidance Above Analysts' Estimates
Wednesday, 31 Oct 2012 08:02am EDT 

Magellan Midstream Partners LP announced that for fiscal 2012, it expects net income per limited partner unit (EPS) to be $1.93 for 2012, resulting in fourth-quarter of 2012 guidance of 68 cents. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.00 for fiscal 2012 and EPS of $0.55 for the fourth quarter of 2012.  Full Article

Magellan Midstream Partners LP Raises FY 2012 EPS Guidance; Issues Q3 2012 EPS Guidance
Wednesday, 1 Aug 2012 08:01am EDT 

Magellan Midstream Partners LP announced that net income per limited partner unit is estimated to be $3.90 for fiscal 2012, with the third quarter 2012 guidance of $0.76. Guidance excludes future NYMEX MTM adjustments on the partnership's commodity-related activities.  Full Article

Magellan sees 'high probability' of expanding Longhorn pipeline

HOUSTON, Aug 1 - Magellan Midstream Partners LP sees a "high probability" of expanding its Longhorn crude oil pipeline, which is ramping up volumes of West Texas crude shipped to Houston-area refineries, Chief Executive Mike Mears told analysts on Thursday.

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