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Magellan Midstream Hits a New High



February 09, 2014 – Comments (2) | RELATED TICKERS: MMP

New 52-week highs have been rare lately, at least in my portfolio.  But Magellan Midstream Partners (MMP) issued a solid earnings report on Wed that include higher cash distribution growth targets.  MMP rallied on the news and a couple of brokerage upgrades to close out the week at a new high.

To celebrate, here's a little 52-week high-ku

Record net income
Magellan projects more cash
Unit price rallies.

Disclosure:  Long MMP, no plans to sell or add to the position.


2 Comments – Post Your Own

#1) On February 09, 2014 at 8:37 PM, awallejr (34.60) wrote:

Hold on to those MLPs.  They have held up well for me during this correction.  Yield is still king.  I received my interest statement for my MM account at C last year and I earned a measely $71.94.  I keep that account for emergency cash but had I invested it in many a mlp or bdc I would have easily earned $5,000 instead.

I caught Kudlow the other night (sometimes I watch him mainly out of amusement) and he had the President of some University on saying he withdrew his million dollars out of BAC.  Well his actions were right if he was in search of better yield but he wants to basically put it under the mattress.

In the end staying in cash earns you squat.  And I don't see that changing anytime soon.

Stick with the "yielders" this year and you will do fine.

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#2) On February 10, 2014 at 3:09 PM, awallejr (34.60) wrote:

Wow I am so glad I switched my BWP holdings awhile ago into WPZ.  BWP getting crushed today.  BWP might be worth waching tho as a spec play.

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