Magellan Midstream Partners L.P. (MMP) Company Profile
Magellan Midstream Partners, L.P., together with its subsidiaries, engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. Its pipeline system transports petroleum products and liquefied petroleum gases from the Gulf Coast refining region of Texas through the Midwest to Colorado, North Dakota, Minnesota, Wisconsin, and Illinois. The company owns and operates marine terminals, which store and distribute refined petroleum products, blendstocks, crude oils, heavy oils, and feedstocks, as well as inland terminals that consist of storage tanks connected to third-party interstate pipeline systems to deliver refined petroleum products. Its ammonia pipeline system transports ammonia from production facilities in Texas and Oklahoma to terminals in the Midwest. The company also stores, blends, and distributes biofuels, such as ethanol and biodiesel. As of March 31, 2011, it operated approximately 9, 600 miles of petr oleum products pipeline system and 51 terminals; 6 marine petroleum terminals located along the United States Gulf and East Coasts; a crude oil storage in Cushing, Oklahoma; 27 petroleum products inland terminals located principally in the southeastern United States; and a 1,100-mile ammonia pipeline system and 6 associated terminals. The company also provides ancillary services, such as heating, blending, and mixing of stored petroleum products and additive injection services. Its customers comprise independent and integrated oil companies, wholesalers, retailers, railroads, airlines, and regional farm co-operatives. The company serves various markets, including retail gasoline stations, truck stops, farm co-operatives, railroad fueling depots, and military and commercial jet fuel users. Magellan GP, LLC serves as the general partner of the company. The company was founded in 2000 and is based in Tulsa, Oklahoma.
News about MMP
Insider Selling: Magellan Midstream Partners, L.P. (MMP) Insider Sells 5,000 Shares of Stock
Magellan Midstream Partners, L.P. (NYSE:MMP) insider Douglas J. May sold 5,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $68.69, for a total value of $343,450.00. Following the complet...Read More>>>
The Permian Basin’s Pipeline Woes Are About to Ease
A gusher of new oil production in the Permian Basin has stretched the region's pipeline capacity to the max. Output in the area has doubled in the last three years to 3.4 million barrels per day (BPD), which is bumping right up against the region's c...Read More>>>
Pipeline Stocks 101: An Investor’s Guide
Pipelines are vital to our modern world, because they serve as the transportation network that moves oil and gas from the wellhead to end users, with plenty of stops in between. In the U.S. alone, there are more than 2.4 million miles of energy pipel...Read More>>>
Better Buy: Enbridge Inc. vs. Magellan Midstream Partners, L.P.
Enbridge Inc. (NYSE:ENB) has a roughly 6% yield, while Magellan Midstream Partners, L.P. (NYSE:MMP) offers a slightly lower 5.5%. Before simply buying the higher-yielding midstream company, step back and consider the risks at each today. When you do ...Read More>>>
This High-Yield Stock Is Starting the Next Stage of Its Evolution
When oil refiner Marathon Petroleum (NYSE:MPC) formed master limited partnership (MLP) MPLX (NYSE:MPLX) in 2012, the main objective was to cash in on its midstream assets by steadily dropping them down to its MLP. That strategy would provide Marath...Read More>>>