by Sam Collins | November 5, 2013 1:34 am
Magellan Midstream Partners LP (MMP) — This master limited partnership (MLP) is engaged in the transportation, storage and distribution of refined petroleum through its 9,600-mile pipeline system.
This company’s low-cost capital structure and fee-based earnings have contributed to the stability of its growth. It has successfully diversified and has access to 40% of the United States’ refining capacity. It earned $2.02 per share in 2012, and the consensus estimate is for $2.51 in 2013 and $2.78 in 2014.
MMP has been in a bull market since 2008. In September, it broke higher from a 10-month bull channel and formed a new bull channel with a steeper angle of advance. The stock is under heavy and steady accumulation with a bullish MACD.
The 12-month target for MMP is $70, and with a dividend yield of 3.7%, it could provide an annual return of 19%-plus.
Source URL: http://investorplace.com/2013/11/trade-day-magellan-midstream-partners-lp-mmp/
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