#6 - Magellan Midstream Partners (NYSE:MMP)
Another company operating in the MLP sector is Magellan Midstream Partners (NYSE:MMP). The company puts its focus on refined products like gasoline, diesel, and jet fuel. Right now, that’s a tough proposition. However, refined products will be in higher demand as the economy opens up.
Magellan does not have quite as strong a balance sheet as other companies in this presentation. The company’s debts are 57.8% of its assets. However, it is a capital-intensive company that is considered essential to the U.S. economy. The good news is that the debt is in the form of bonds with long maturity dates and it has two major credit lines.
The company does have a solid history of delivering strong returns to shareholders. The average equivalent return since 2001 is 17.1%. The company also has increased its dividend for 10 consecutive years with an average dividend growth rate of 5.28% in the past three years.
About Magellan Midstream Partners
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates refined products pipeline that transports gasoline, diesel and aviation fuel, kerosene, and heating oil to refiners, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.
Read More - Current Price
- $69.00
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
