Magellan focuses on high-return refined product, crude transportation, and terminalling assets.
Magellan Midstream Partners reported first-quarter results in line with our and consensus expectations. Distributable cash flow actually exceeded our expectations on lower interest expense and maintenance capital expenditures. The highlight of the quarter was new terminalling and storage assets that supported $20 million of new operating profit (approximately 8% of total). This kind of growth has underpinned Magellan’s stability and success since the foundation of the Partnership. Magellan has a...Magellan Midstream Partners is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The company's segments are: refined products, which consists of its refined products pipeline system, independent terminals and ammonia pipeline system; crude oil, which comprises crude oil pipelines, condensate splitter and storage facilities and ships crude oil as a common carrier for customers including crude oil producers, end users such as refiners, and marketing and trading companies; and marine storage, which owns and operates marine storage terminals located along coastal waterways.
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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