Magellan Midstream Partners (MMP) owns an 8,500 mile pipeline system for the transportation and storage of refined petroleum products. The company’s capital spending plan called for $250 million in new projects to expand its already formidable reach. Magellan Midstream’s pipeline system can reach 43% of all U.S. refining capacity. Capital spending is scheduled to shrink to 90 million in 2010. The yield as of October 14, 2009 was 7.3%
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PG&E do the right thing for this issue. You can buy PCG because PG&E have a very good balance sheet and dividend/yield about 4.11%. FBR Capital maintains an “Outperform/Top Pick” rating on PG&E. Approximately about $1.57 billion in market capitalization has been lost on Friday. PG&E have total $992 million in liability insurance for damages caused by fire and $1 billion in lost equity capitalization. Citigroup was more positive on the PG&E stock. I think PG&E stocks were oversold. I am just long on PCG on Friday. Fall and winter are coming, all PG&E customers bill will go up substantially very soon because the weather is getting colder very day from now to spring next year that mean PG&E have significantly more revenue and profit to come for next quarter and quarter after for sure.
FYI, on September 09, 2010: “The Company is one of only five U.S. utilities to appear on the World index and one of 10 U.S. utilities to make the North America index. This marks the second consecutive year in which PG&E has been chosen for the World index and the third consecutive year it has been included in the North America index.
The DJSI track the financial performance of leading sustainability-driven companies worldwide. In selecting the top performers in each industry sector, DJSI evaluated companies on issues such as corporate governance, risk management, climate change mitigation, supply chain standards, and labor practices.”