Andeavor Logistics operates gas and oil logistics assets to support its refining sponsor.
Andeavor Logistics reported a decent third quarter, and results generally matched our expectations. We plan to maintain our $59 fair value estimate and narrow moat rating. The Western Refining Logistics acquisition was completed Oct. 30, and we generally view the merger favorably, as it bulks up the portfolio of assets with more attractive non-California exposure, including a small Permian position. With the deal now closed, the partnership’s EBITDA targets of $1.2 billion-$1.3 billion for 2018 ...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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