What are Magellan Midstream Partners?
Magellan Midstream Partners, L.P. is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil based in Tulsa, Okla. Formerly a part of Williams Companies, Magellan began trading as Williams Energy Partners in February 2001.
Does Magellan Midstream Partners Issue K-1?
Magellan Midstream Partners, L.P. will not pay any federal income tax. Our unitholders receive a Schedule K-1 during late February to advise of the income they are responsible for reporting on their individual income tax returns. The Schedule K-1s can also be viewed online.
Is Magellan Midstream Partners an MLP?
Magellan Midstream Partners (MMP) is one of America’s largest master limited partnerships. The MLP also owns storage facilities, terminals, and several thousand miles of ammonia and oil pipelines.
Is Magellan Midstream Partners a buy?
Magellan Midstream Partners has received a consensus rating of Hold. The company’s average rating score is 2.14, and is based on 3 buy ratings, 10 hold ratings, and 1 sell rating.
Who owns Magellan Midstream?
Magellan Midstream Partners is a publicly traded partnership based in Tulsa, Oklahoma. It owns ammonia and petroleum pipelines in the Mid-Continent oil province….Magellan Midstream Partners.
| Type | Public |
|---|---|
| Headquarters | Tulsa, Oklahoma , United States |
| Key people | Michael Mears (CEO & President) |
| Number of employees | 1,300 |
| Website | magellanlp.com |
Is Magellan Midstream dividend safe?
However, if Magellan can’t find a way to grow its business, the distribution’s safety is hardly assured. That said, Magellan is conservatively managed. Its balance sheet, with a financial-debt-to-EBITDA ratio of about 3.9 times, is one of the strongest in the midstream space.
Does MMP have a k1?
Master limited partnerships (MLPs) are required to issue you a K-1 package at the end of the tax year. It’s the “LP” after the name that’ll earn us the K-1 come tax time.
Is Magellan Midstream a good investment?
Magellan Midstream Partners, L.P. – Hold may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of MMP, demonstrate its potential to outperform the market. It currently has a Growth Score of C.
What is Magellan Midstream Partners LP?
Magellan Midstream Partners, L.P. is mainly engaged in the transportation, storage and distribution of refined petroleum products and crude oil.
What does Enterprise Products Partners do?
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (“NGLs”), crude oil, refined products and petrochemicals.
Does MMP pay a dividend?
MMP pays a dividend of $4.12 per share. MMP’s annual dividend yield is 8.6%. Magellan Midstream Partners’s dividend is higher than the US Oil & Gas Midstream industry average of 6.37%, and it is higher than the US market average of 4.23%.
Is MMP stock a good buy?
Out of 12 analysts, 2 (16.67%) are recommending MMP as a Strong Buy, 1 (8.33%) are recommending MMP as a Buy, 9 (75%) are recommending MMP as a Hold, 0 (0%) are recommending MMP as a Sell, and 0 (0%) are recommending MMP as a Strong Sell. What is MMP’s earnings growth forecast for 2021-2023?