Tulsa, Okla.-based publicly traded energy pipeline partnership
Magellan Midstream Partners LP
) has extended the period of open season for its Arkansas
pipeline project from Oct 16, 2013 to Nov 4, 2013. The open
season is for shippers of refined petroleum products from Fort
Smith, Ark.-based terminal of Magellan Midstream to the state's
Little Rock market.
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The 160-mile pipeline project will have a capacity to carry
roughly 75,000 barrels per day of refined petroleum products like
gasoline, jet fuel and diesel fuel. The partnership expects the
pipeline to be online by third quarter 2015, subject to the
response to the ongoing open season and necessary approvals from
Magellan Midstream, a master limited partnership (MLP), owns an
attractive portfolio of energy infrastructure assets that
generate stable and recurring fee- and tariff-based revenues. The
partnership primarily transports, stores, and distributes refined
petroleum products and, to a lesser extent, ammonia. Magellan
Midstream conducts its operations in three segments: Refined
Products, Crude Oil and Marine Storage.
However, unfavorable regulatory changes by the Federal Energy
Regulatory Commission (FERC) would impact the partnership's
results. This will also contribute toward increasing Magellan
Midstream's borrowing costs and depressing the market value of
its limited partner units.
Magellan Midstream currently holds a Zacks Rank #3 (Hold),
implying that it is expected to perform in line with the broader
U.S. equity market over the next one to three months.
Meanwhile, one can look at energy firms like
Kinder Morgan Inc.
Vermilion Energy Inc.
) that offer prospects. All these stocks sport a Zacks Rank #1