|Bid||53.90 x 1000|
|Ask||75.30 x 1800|
|Day's Range||70.34 - 71.25|
|52 Week Range||54.82 - 75.82|
|PE Ratio (TTM)||18.76|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||3.75 (5.29%)|
|1y Target Est||75.76|
Magellan Midstream Partners (MMP), one of the largest US transporters of refined products, posted a 4.5% YoY rise in EBITDA in the second quarter. MMP saw an 8.3% rise in EBITDA in the first six months of 2018 compared to the same period last year, implying a slowdown in earnings growth in the remaining two quarters of the year. Magellan Midstream Partners’ second-quarter earnings growth was driven by the strong performance of its Crude Oil segment resulting from higher Permian volumes and expansion projects placed into service.
The WTI Cushing-WTI Midland spread, a key indicator to watch for Permian producers and pipeline MLPs operating in the region, moved closer to four-year highs of $18 per barrel last week. The spread rose to $17.3 per barrel by the end of last week—significantly higher than this year’s average of $3.5 per barrel.
The oil and gas midstream company already was spending record amounts on new projects, but it has raised spending even more.
Enterprise Products Partners (EPD) saw a string of target price increases after its strong second-quarter results. UBS raised its target price from $36 to $39. Barclays and Stifel both raised their target prices for the stock to $34. SunTrust Robinson raised its target price for Enterprise Products Partners from $33 to $34. RBC raised its target price from $34 to $37.
NEW YORK, NY / ACCESSWIRE / August 2, 2018 / Magellan Midstream Partners, L.P. (NYSE: MMP ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 2, 2018 at 1:30 PM Eastern ...
Petroleum pipeline operator Magellan Midstream (MMP) managed to raise its cash flow distributable to unitholders by 6.5% in the quarter.
On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of 94 cents. Earnings, adjusted for non-recurring costs, came to $1.05 per share. The results topped Wall Street expectations. ...
Magellan Midstream Partners LP on Thursday reported quarterly profit that topped analyst expectations, driven by higher demand for its crude oil and refined products pipelines. The Tulsa, Oklahoma, pipeline operator's second-quarter net income was $214.4 million, up 2 percent from the same period a year ago. Analysts on average had expected earnings per share of $1.01 in the second quarter, according to Thomson Reuters I/B/E/S.
Magellan Midstream Partners LP reported second-quarter profit on Thursday of $214.4 million, up 2 percent from the same period a year ago amid higher demand for crude oil and refined products pipelines. ...
Increases Annual Guidance for 2018 Distributable Cash Flow to $1.1 Billion TULSA, Okla. , Aug. 2, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $214.4 ...
Recently, Suntrust Robinson downgraded Buckeye Partners (BPL) to “sell” from “hold.” Suntrust Robinson reduced the partnership’s target price to $31 from $43. Previously, Citigroup lowered the partnership to “hold.” Buckeye Partners has seen five rating updates since the beginning of 2018 including four downgrades and one new coverage initiation.
In the previous part, we discussed the chances of a distribution cut announcement from Buckeye Partners (BPL) during the company’s second-quarter earnings. In this part, we’ll discuss the possible stock price reaction in case the partnership goes ahead with a cut. The initial reaction would likely be negative considering the partnership’s strong historical distributions and general distribution growth recovery in the sector.
TULSA, Okla. and MECHELEN, Belgium , Aug. 1, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and LBC Tank Terminals, LLC ("LBC") are further expanding ...
Enterprise Products Partners (EPD) reported its second-quarter results on August 1. The company’s adjusted EBITDA for the quarter rose 32% YoY (year-over-year). The growth was driven by contributions from new projects, higher volumes, and higher NGL (natural gas liquids) prices.
ONEOK (OKE) reported its second-quarter results on July 31 after the markets closed. The company reported an adjusted EBITDA of $601.8 million for the quarter—30% higher compared to the second quarter of 2017. The growth in ONEOK’s earnings was driven by growth in natural gas and natural gas liquids volumes in the STACK and SCOOP areas, the Williston Basin, and the Permian Basin. Higher optimization and marketing activities in ONEOK’s Natural Gas Liquids segment also drove its earnings growth.
Plains All American Pipeline (PAA) has announced a distribution of $0.3 per unit for Q2 2018, which is flat compared to its first-quarter distribution. Plains All American Pipelines is trading at a yield of ~4.8% currently, which is lower than the yields of 5.8%, 5.4%, and 7.0% for Enterprise Products Partners (EPD), Magellan Midstream Partners (MMP), and MPLX (MPLX), respectively. The Alerian MLP Index currently has a yield of ~7.8%.
Plains All American Pipeline (PAA) will release its Q2 results on August 7 after the markets close. Analysts expect the company’s EBITDA (earnings before interest, tax, depreciation, and amortization) for the quarter to be $477 million, 6% higher than its Q2 2017 EBITDA. At the same time, Plains All American Pipeline expects its Q2 adjusted EBITDA to remain flat compared to the year-ago quarter.
Plains All American Pipeline (PAA) stock has risen ~14% so far in 2018, outperforming many of its peers. Enterprise Products Partners (EPD) has risen ~9%, and Magellan Midstream Partners (MMP) is roughly flat YTD (year-to-date). The Alerian MLP ETF (AMLP) has fallen ~4% YTD. Crude-centric Plains All American Pipeline has largely tracked crude oil prices so far in 2018. Crude prices are up ~14% YTD.
The WTI Cushing–WTI Midland spread, a key indicator to watch for Permian producers and pipeline MLPs operating in the region, reached close to the four-year high of $18 per barrel last week. The spread climbed to $17.10 per barrel in the middle of the week before ending the week at $16.60. That’s significantly higher than the year’s average of $5.50 per barrel.
Magellan Midstream's (MMP) second-quarter 2018 earnings are expected to grow, with rising demand for its midstream assets owing to increased U.S. activities.