Reporting by Collin Eaton in Houston; Editing by Leslie Adler and Matthew Lewis. The company’s earnings are expected to fall about 15% this year, to $3.80 a share (with distributable cash flow about 75 cents higher) and rise 10% next year. Our network of independent terminals includes 25 refined products terminals with 6 million barrels of storage located primarily in the southeastern U.S. and connected to third-party common carrier interstate pipelines, including the Colonial and Plantation pipelines.
Magellan Midstream Partners has gained a reputation for being one of the best-run and financially astute pipeline operators in the country..
The company is also considering “a number of opportunities” to develop a crude export terminal in the Corpus Christi, Texas, area, though it is mostly evaluating working with a partner to jointly develop a facility, rather than an independent project, Mears said. Impact of Covid-19 on Pipeline Sector in the US, Port of Corpus Christi still aims to export Canadian, Bakken crude, Hill Country Landowners Say Kinder Morgan Is Lowballing Them. Market Data Center: Commodities & Futures. The company has consistently generated the highest returns among its peers.
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“This is a not a high growth business. Product Specifications Magellan has projected that demand for gasoline, which accounts for 60% to 65% of its products volume, will drop 25% in the second quarter and recover to 2019 levels by August. Menu & Reservations Make Reservations .
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The distribution, which rose 5% in 2019, will be held flat this year. Lastly, Magellan will construct a connecting pipeline to ExxonMobil Pipeline Company’s terminal in Wink, Texas. MRx Pipeline is a quarterly report offering clinical insights and competitive intelligence on anticipated specialty and traditional drugs in the pipeline. It is expected to be operational by late 2020. Browse EPIC has recently begun filling its line, its president, Brian Freed, said this week. Magellan Midstream Partners has gained a reputation for being one of the best-run and financially astute pipeline operators in the country. Magellan estimates that the pipeline expansion project will cost approximately $500 million, and will be completed by mid-2020, depending on the receipt of … Our refined products segment consists of our common carrier refined products pipeline system, our independent terminals and two marine terminals. Magellan is committed to safe operations of our assets. Our Standards: The Thomson Reuters Trust Principles. The system includes 46 million barrels of aggregate usable storage capacity at 54 connected terminals. We’ve talked about pipelines and gas pipelines in other videos.
Product Availability: Inland Magellan’s 10% yield does come with some risk. © 2020 - Magellan Midstream Partners, L.P. Galena Park Dock Capacity Allocation Contract, Seabrook Dock Capacity Allocation Contract. Refined Assets Directory We maintain the highest standards in safety to do so. has gained a reputation for being one of the best-run and financially astute pipeline operators in the country. Williams The depressed price reflects in part investors’ distaste for the energy industry and the once-hot pipeline business. “As long as you believe that driving gets back to normal or close to normal in the Midwest and the regions they serve, Magellan ought to be a good investment,” says Eli Samaha, a portfolio manager at Madison Avenue Partners in New York, which holds the stock. Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. (EPD), Magellan’s closest peer, also carries a 10% yield. Get directions, reviews and information for Magellan Pipeline Co in Fountain, CO. Magellan Pipeline Co 1004 S Santa Fe Ave Fountain CO 80817. That may not be the answer some investors want to hear, but Magellan has given it a lot of consideration. Proposed Magellan Pipeline Easement Agreements Are Very Broad. According to the United States Department of State, it owns "83 petroleum products terminals, more than 9,000 miles of refined products pipeline, 800 miles of crude oil pipeline and a 1,100-mile ammonia pipeline system." Our Galena Park marine terminal is located along the Houston Ship Channel and has 13 million barrels of wholly owned storage capacity and one million barrels of storage capacity that we own through a joint venture. Receive an email whenever a new article is published. The Houston pipeline operator plans to spend a company record $1.1 billion on expansion projects this year.
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Jet fuel demand remains weak, but it accounts for less than 10% of Magellan’s volumes.
https://www.barrons.com/articles/magellan-midstream-has-a-vital-pipeline-network-and-an-attractive-yield-51593201842. Magellan gets 85% of its profits from what it views as low-risk fee-based activities.
– Texas Observer, Are pipeline land takings in the public interest if oil, gas headed overseas? It provides 50% or more of the refined products in several states.
Get reviews, hours, directions, coupons and more for Magellan Pipeline Co at 13029 S 13th St, Bellevue, NE 68123.
The pipeline would take crude from Cushing and the Permian to the U.S. Gulf Coast.
Magellan Pipeline Co LP Magellan Pipeline Company, L.P. was founded in 2003.
For a pipeline emergency, call 800-720-2417. A quarterly report offering clinical insights and competitive intelligence on anticipated specialty and traditional drugs in the pipeline.
We maintain the highest standards in safety to do so. Reflecting bond investors’ comfort with the company, Magellan’s recently issued 10-year debt now yields 2.5%. “It has a conservative and analytic management team and won’t overpay for acquisitions.”, Mears, the CEO for the past nine years, sounds a bit like Warren Buffett when he says: “We exhibit great discipline when it comes to deploying capital. – Houston Chronicle, Ranchers Raise Concerns on High-Speed Rail Project – The Cattleman Now, Phillips 66, Plains Sanction $2.5 Billion Red Oak Pipeline System, Are You Affected by the Whitewater Pipeline Project in Matagorda & Brazoria Counties, Highest and Best Use as a Pipeline Corridor, Brandt Lane Extension in Fort Bend County. Saturday mornings ET. Magellan said its 275,000 barrel-per-day (bpd) Longhorn pipeline from the Permian to Houston has run near its total capacity for months. An open season to solicit shipper interest will close at the end of August. There is no better way to destroy value than to overpay for a large acquisition.”. Magellan Pipeline Co 1004 S Santa Fe Ave Fountain CO 80817. The system includes 46 million barrels of aggregate usable storage capacity at 54 connected terminals.
“We think there is a real potential with this third party to make this work,” Mears told analysts on a conference call, declining to disclose its potential partner.
Its partnership units, which are down 35% so far in 2020, to about $41, look appealing with a 10% yield.
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