|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||24.06 - 24.81|
|52 Week Range||18.38 - 30.72|
|PE Ratio (TTM)||25.97|
|Earnings Date||May 7, 2018 - May 11, 2018|
|Forward Dividend & Yield||1.20 (4.82%)|
|1y Target Est||25.08|
On April 17, 2018, Barclays cut its target price for Kinder Morgan (KMI) from $23 to $20. According to Reuters, of the analysts covering Kinder Morgan, 62% recommended “buy,” and 38% recommended “hold.” Analyst’s mean price target for KMI is $20.90, and KMI is trading at $16.17, implying a potential 30% return in a year.
An acrid stink of petroleum sent Santa Barbara County firefighters scrambling three years ago in a search of a possible spill. When they arrived at Refugio State Beach, oil was staining the pristine sands and seeping into the surf. It would turn out to be the worst California coastal spill in 25 years, spreading a shimmering sheen out to sea that eventually deposited tar balls on beaches more than 100 miles (160 kilometers) away.
On April 11, 2018, Mizuho cut Magellan Midstream Partners’ (MMP) price target from $72 to $66. On the same day, Ladenburg Thalmann cut MMP’s price target from $87 to $78. Analysts’ mean price target for Magellan Midstream is $74.
Short interest as a percentage of float in Magellan Midstream Partners (MMP) is currently ~1.9% compared to 1.4% in mid-March 2018. According to the data released on April 10, 2018, Magellan Midstream Partners’ total shares shorted stood at ~4.2 million on March 29, 2018, 29.5% higher than its ~3.3 million shares shorted on March 15.
Magellan Midstream Partners (MMP) expects its 2018 DCF (distributable cash flow) to be $1.1 billion—2.8% higher than its 2017 DCF. Its DCF rose 7.8% in 2017.
So far in this series, we have discussed the performance of the broader MLP sector, the top MLP gainers, and the top MLP losers in the week ending April 13, 2018. In this part, we’ll discuss the MLP rating updates last week.
The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, recovered slightly last week from its 2018 lows with week-over-week gains of 3.5%. AMZ was supported by strong gains in crude oil prices and a general recovery in US markets after the trade war tensions eased. MLPs had a strong start last week. However, the gains were slightly offset by declines on Thursday and Friday.
Nearly one-third of Magellan Midstream Partners’ (MMP) 2017 operating income was generated by its Crude Oil segment. The segment’s assets include 2,200 miles of crude oil pipelines and 28 million barrels of crude oil storage capacity. Magellan Midstream expects the segment’s 2018 operating income to rise 10% over 2017.
Magellan Midstream Partners (MMP) stock has fallen nearly 11% so far in 2018. It’s underperformed its peers Enterprise Products Partners (EPD) and Plains All American Pipeline (PAA) during this period.
The volume of oil sitting in 300 steel tanks in a nine-square-mile radius in Cushing, Oklahoma has long been a key barometer for the health of U.S. crude supply and the nation's benchmark for daily trading of billions of dollars in the commodity. Oil supplies have fallen before in Cushing for a variety of seasonal or market-driven reasons. In fact, U.S. production is straining pipeline and storage capacity.
Magellan Midstream Partners (MMP) continues to trade significantly below its 50-day and 200-day moving average, which might indicate bearish sentiment in the stock. Magellan Midstream Partners was trading 5.8% below its 50-day simple moving average and 11.1% below its 200-day simple moving average as of April 6, 2018.
The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, ended last week flat at 239.8. MLPs had a strong start last week following a sharp correction in previous weeks. However, the gains were offset by another major sell-off on April 6 amid a decline in crude oil prices and a rise in US-China trade war tensions. The trade war intensified after China proposed additional tariffs on 106 items imported from the US including liquid propane and some petrochemicals.
Of Reuters-surveyed analysts covering CVR Refining (CVRR), 87% recommend “hold” and 13% recommend “sell.” There were no “buy” recommendations. Analysts’ median target price for CVR Refining is $14.75, and the stock is currently trading at $14.40, implying a 2% return in a year. Notably, CVR Refining has risen ~60% in the last year.
Plains All American Pipeline, L.P. and Plains GP Holdings today announced changes to PAA’s senior management team in connection with its long-term succession plans.
Plains All American Pipeline, L.P. and Plains GP Holdings announced they will release first-quarter 2018 earnings after market close on Tuesday, May 8, 201
Plains All American Pipeline, L.P. and Plains GP Holdings today announced their quarterly distributions with respect to the first quarter of 2018.
His contractual salary is $375,000, but he has declined all but $40,000 of that in 2016 and 2017, according to the proxy.
The Alerian MLP Index has fallen nearly 13% year-to-date. Notably, Plains All American Pipeline stock fell significantly in 2017 after it announced a second distribution cut. Plains All American Pipeline has fallen 25% in the trailing 12-month period.