AllAnalyst Report
logoArgusAugust 02, 2021

Magellan Midstream Partners, L.P.: Reiterating HOLD following 2Q results

Symbols
MMP
Sector(s)
Energy
Rating
Current Price
$47.52
Price Target
Earnings Estimate
Summary

Based in Tulsa, Magellan Midstream Partners is a master limited partnership that transports, stores and distributes refined petroleum products (including gasoline, aviation fuel, kerosene, heating oil, liquefied petroleum gases, blendstocks, and heavy oils and feedstocks) and ammonia. MMP organizes its revenues into three reporting segments: Refined Products, Crude Oil, and Marine Storage. The partnership's primary assets include the longest petroleum products pipeline system in the continental U.S., at 9,700 miles, which can access more than 50% of the country's refining capacity; 2,200 miles of crude oil pipelines; and storage facilities with capacity of approximately 28 million barrels.

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Analyst Profile

William V. Selesky

Senior Analyst: Basic Materials
Bill covers the Basic Materials sector for Argus. He has worked in the investment business for over 15 years, including positions as a senior equity analyst for firms such as Palisade Capital Management, PaineWebber/Mitchell Hutchins Asset Management and John Hsu Capital Group. He has provided coverage on groups including Consumer Staples, Consumer Discretionary, Energy, Media, Transportation, Gaming and Utilities. At PaineWebber, he also served as part of a team that managed $9 billion in active equity products. Prior to working in the investment field, Bill spent eight years as a credit analyst at American Express Company and five years as an analyst at Equifax Services. Bill has a Masters of Business Administration degree in Investment Finance from Pace University, and a Bachelor of Science degree in Economics from Fordham University.