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Magellan Midstream Partners LP (MMP)

MMP on New York Consolidated

70.19USD
23 Sep 2016
Change (% chg)

$-0.07 (-0.10%)
Prev Close
$70.26
Open
$69.87
Day's High
$70.69
Day's Low
$69.75
Volume
453,954
Avg. Vol
693,237
52-wk High
$77.45
52-wk Low
$54.51

Latest Key Developments (Source: Significant Developments)

Magellan Midstream prices $500 mln of its 4.25 pct senior notes due 2046
Tuesday, 6 Sep 2016 03:15pm EDT 

: Magellan Midstream prices $500 million debt offering . Magellan Midstream Partners LP says notes were priced at 98.762% of par to yield 4.324% to maturity .Magellan Midstream Partners LP says has priced $500 million of its 4.25% senior notes due 2046.  Full Article

Magellan Midstream Q2 non-gaap net income per unit $0.82
Tuesday, 2 Aug 2016 08:30am EDT 

Magellan Midstream Partners LP sees net income per limited partner unit for third : Q2 non-gaap net income per unit $0.82 excluding items . Reaffirms its 2016 DCF guidance of $910 million . Q2 earnings per share view $0.75 -- Thomson Reuters I/B/E/S . Quarter of 80 cents . Qtrly refined products operating margin was $177.3 million, an increase of $29.1 million . Remains committed to its goal of increasing annual cash distributions by 10% for 2016 and at least 8 percent for 2017 . Including actual results so far this year, net income per limited partner unit is estimated to be $3.45 for 2016 . Q3 earnings per share view $0.90 -- Thomson Reuters I/B/E/S . FY2016 earnings per share view $3.45 -- Thomson Reuters I/B/E/S . Qtrly total revenue $519 million versus $498.4 million .Q2 revenue view $519.6 million -- Thomson Reuters I/B/E/S.  Full Article

Magellan Midstream increases quarterly cash distribution to 82 cents
Thursday, 21 Jul 2016 09:49am EDT 

Magellan Midstream Partners LP : Magellan Midstream increases quarterly cash distribution to 82 cents .Says second-quarter 2016 distribution is 11% higher than second-quarter 2015 distribution of 74 cents per unit.  Full Article

Magellan Midstream to construct new Pasadena Marine Terminal
Thursday, 14 Jul 2016 08:55am EDT 

Magellan Midstream Partners Lp : Magellan Midstream to construct new Pasadena marine terminal . New terminal will be built on nearly 200 acres of recently-acquired land . Project is currently estimated to cost approximately $335 million, including acquisition of land. . Magellan Midstream Partners Lp says project is currently estimated to cost approximately $335 million . Says initially plans to build approximately 1 million barrels of refined products and ethanol storage . Magellan expects its new Pasadena terminal to be operational in early 2019 . Magellan expects its new Pasadena terminal to be operational in early 2019 .If warranted by demand, new Pasadena facility could be expanded to include up to 10 million barrels of storage and up to 5 docks.  Full Article

Magellan Midstream announces additional board members
Thursday, 16 Jun 2016 05:00pm EDT 

Magellan Midstream Partners LP : Elected Lori A. Gobillot and Edward J. Guay as independent board members effective June 15, 2016 . .Magellan midstream announces additional board members.  Full Article

Magellan Midstream to expand Seabrook Logistics' Houston Gulf infrastructure
Tuesday, 31 May 2016 08:59am EDT 

Magellan Midstream Partners LP: Seabrook Logistics to construct up to 4 million barrels of additional storage for total of nearly 5 million barrels adjacent to existing terminal .Seabrook Logistics also intends to construct one ship dock; portion of new assets could be operational by end of 2017.  Full Article

Magellan Midstream declares dividend
Tuesday, 26 Jan 2016 04:16pm EST 

Magellan Midstream Partners LP:Says fourth-quarter 2015 distribution is 13% higher than the fourth-quarter 2014 distribution.  Full Article

Magellan Midstream Partners LP and TransCanada set to build Houston Pipeline Connection
Wednesday, 13 Jan 2016 09:00am EST 

Magellan Midstream Partners LP and TransCanada Corp:Says definitive plans to connect transcanada's Houston tank terminal to magellan's east Houston terminal.Says joint project, first announced in April 2015, is estimated to cost approximately US$50 million.Says houstonlink pipeline is expected to be operational during the first half of 2017.Says MAGELLAN will serve as construction manager and operator for houstonlink.Co,transcanada plan to develop additional infrastructure at Houston-area terminals for shipments from new pipeline.New company owned 50/50 by MAGELLAN and Transcanada, to construct, own, operate crude oil pipeline connecting the terminals.Houstonlink pipeline company, llc to construct, own and operate crude oil pipeline connecting the terminals.  Full Article

Magellan Midstream Partners LP shuts pipeline after spills crude oil in Oklahoma - Reuters
Friday, 6 Nov 2015 05:09pm EST 

Magellan Midstream Partners LP:Magellan Midstream Partners said on Friday about 1,000 barrels of crude oil were released from one of its pipelines in a rural area near Billings, Oklahoma, on Thursday evening - RTRS.The 6-inch (15-cm) diameter pipeline, which stretches from Enid to Ponca City, was quickly shut down and isolated and the spill was contained in the immediate area, the company said in an email. It did not state the capacity of the pipeline - RTRS.Magellan said a majority of the spilled crude oil has been safely recaptured and added that damage to the pipeline was related to third party excavation activities - RTRS.The company said it has begun repairs on the damaged pipeline on Friday afternoon but did not have any return date for it - RTRS.All responsible regulatory agencies were notified and the incident is under investigation, Magellan said - RTRS.  Full Article

Magellan Midstream Partners LP announces quarterly dividend
Thursday, 22 Oct 2015 09:42am EDT 

Magellan Midstream Partners LP:Increases quarterly cash distribution to 76.25 cents.Says has increased the partnership's quarterly cash distribution to 76.25 cents per unit.Third-quarter 2015 distribution is 14% higher than the third-quarter 2014 distribution of 66.75 cents per unit.  Full Article

UPDATE 1-Magellan reports decline in Q2 BridgeTex crude pipeline volumes

HOUSTON, Aug 2 Shipments on Magellan Midstream Partners' 300,000 barrel per day (bpd) BridgeTex crude pipeline from West Texas, to Houston, Texas fell to around 210,000 bpd in the second quarter, as shippers opted to move their minimum requirements, executives said on Tuesday.