Magellan Midst Stock Price, News & Analysis

Magellan Midstream Partners, L.P. (NYSE: MMP) is set to announce its first-quarter 2023 financial results on May 4, 2023, before the market opens. A conference call with analysts will follow at 1:30 p.m. Eastern to discuss earnings and the company's outlook for the remainder of the year. Magellan Midstream operates the longest refined petroleum products pipeline system in the U.S. and has substantial storage capacity, making it a key player in the transportation and storage of refined petroleum products and crude oil.

Magellan Midstream Partners reported a fourth quarter 2022 net income of $187 million, down from $244 million in Q4 2021, largely due to a $58 million impairment charge for the Double Eagle pipeline joint venture. Diluted net income per unit was 91 cents. However, DCF rose to $345 million, up from $297 million year-over-year, and FCF increased to $324 million. The company expects 2023 DCF of $1.18 billion, supported by refined product shipments expected to rise by 1% and an 8% tariff increase in July. Annual distributions grew to $4.17 per unit, marking 21 years of continuous growth.

On January 24, 2023, Magellan Midstream Partners, L.P. (NYSE: MMP) announced a quarterly cash distribution of $1.0475 per unit for Q4 2022, covering the period from October 1 to December 31, 2022. This brings the annual distribution to $4.19 per unit, up from $4.13 in 2021, marking 21 consecutive years of distribution growth since its IPO in 2001. The payment will be made on February 14 to unitholders on record as of February 7. Magellan's distribution to foreign investors will incur the highest applicable U.S. tax rate plus an additional 10% withholding.

Magellan Midstream Partners, L.P. (MMP) will announce its fourth-quarter 2022 financial results before market opens on February 2, 2023. The management will hold a conference call at 1:30 p.m. Eastern to discuss earnings and 2023 guidance. As the owner of the longest refined petroleum products pipeline, Magellan has significant access to the nation's refining capacity, storing over 100 million barrels of products.

Magellan Midstream Partners (MMP) will participate in the Wells Fargo Midstream and Utilities Symposium on December 7, 2022, at 8:40 a.m. Eastern Time in New York City. CEO Aaron Milford will engage in a Q&A session moderated by Praneeth Satish, Wells Fargo equity research analyst. The event will be live-streamed on Magellan's website, with a replay available for 30 days. Additionally, management will hold meetings with institutional investors during the event, and an updated investor slide deck will be accessible online.

Magellan Midstream Partners, L.P. (NYSE: MMP) reported net income of $330 million for Q3 2022, up from $237 million in Q3 2021. Diluted net income per unit was $1.59, exceeding projected guidance of $1.15. Key drivers included higher profits from commodity-related activities and improved transportation revenues. Distributable cash flow rose to $290 million from $277 million year-over-year. The company increased its annual guidance for distributable cash flow to $1.1 billion and announced a quarterly cash distribution of $1.0475.

Intercontinental Exchange (NYSE: ICE) has launched real-time physical crude pricing in partnership with Link Data Services, enhancing transparency in the North American crude market. The live pricing covers 12 oil grades traded in key locations, including Cushing, Oklahoma, and the Gulf Coast. The initiative aims to offer global market participants reliable pricing data. The partnership follows the successful introduction of the HOU futures contract, which has seen significant trading volumes and liquidity growth since its inception in January 2022.

Magellan Midstream Partners, L.P. (NYSE: MMP) has declared a quarterly cash distribution of $1.0475 per unit for the third quarter of 2022, representing a 1% increase compared to the previous quarter and the same period last year. This brings the annualized distribution to $4.19 per unit, set to be paid on Nov. 14 to unitholders recorded by Nov. 7. The distribution is subject to federal income tax withholding for foreign investors. Magellan operates the longest refined petroleum products pipeline system in the U.S., with significant storage capacity.

Magellan Midstream Partners, L.P. (NYSE: MMP) will release its third-quarter 2022 financial results on Oct. 27, prior to market opening. Management will hold a conference call with analysts at 1:30 p.m. Eastern the same day to discuss earnings and provide an outlook for the remaining year. Magellan operates the longest refined petroleum pipeline system in the U.S., possessing significant storage capacity for petroleum products.