Credit Suisse Downgrades Magellan Midstream Partners (MMP) to Neutral
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Magellan Midstream Reports Record Quarterly and Annual Distributable Cash Flow, Targets Annual Distribution Growth of 10% for 2016 and at least 8% for 2017
February 4, 2016 8:31 AM ESTTULSA, Okla., Feb. 4, 2016 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $207.1 million for fourth quarter 2015 compared to $252.1 million for fourth quarter 2014. The decrease in current year net income was driven by reduced profits from the partnership's commodity-related activities, due to lower realized commodity prices on these activities and mark-to-market (MTM) pricing adjustments for the related hedging positions, partially offset by higher contributions from Magellan's core fee-based transportation and terminal activities.
Distributable cash flow (DCF), a non-generally accepted accounting principles (non-GAAP) financial measure... More
