Magellan Midstream Partners: Attractive Total Return Potential
By Zacks.com:
Magellan Midstream Partners, L.P. (MMP) delivered record results in the third quarter of 2011 as well as a solid positive earnings surprise. Analysts have been raising their estimates off the strong quarter, sending the stock to a Zacks #2 Rank (Buy). Magellan also pays a distribution that yields an attractive 4.9%. And the partnership has been steadily raising its payout over the last several years, even during the Great Recession.Master Limited PartnershipMagellan Midstream Partners, L.P. is a master limited partnership (MLP) operating pipelines and storage terminals for crude oil and refined petroleum products in the United States.The partnership is headquartered in Tulsa, Oklahoma and has a market cap of $7.4 billion.Third Quarter ResultsMagellan recently delivered better than expected results for the third quarter of 2011. Earnings per unit came in at 79 cents, beating the Zacks Consensus Estimate of 72 cents. It was a 55%Complete Story »
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