Power to the Pipelines
Work's been hectic and I almost missed this one.
Last week, Magellan Midstream Partners (MMP) announced the distribution is increasing to 50 cents per unit, a split-adjusted, all-time high.
Today, units bucked the market and cracked through $50 each, also a split-adjusted, all-time high.
High yield energy.
One partnership, two highs.
Power to pipelines.
Disclosure: Long MMP