<< Read Full Article

Magellan Midstream Cuts 2Q Profit Estimate In Half

Stock quotes in this article: MMP  

TULSA, Okla. (AP) — Magellan Midstream Partners LP on Wednesday cut its profit outlook for the full year and second quarter as rising oil prices hurt its hedge positions.

It left intact its estimate of $330 million of cash flow to be distributed to partners.

The partnership, which transports, stores and distributes refined petroleum products, said it now expects a profit of $2.50 per limited partner unit for the full year, and 30 cents for the second quarter. In April it had estimated it would earn $2.60 for the year and 63 cents for the quarter. ...

<< Read Full Article

Recent Comments

Loading .....




Dow Jones S&P 500 NASDAQ 10-Year Note
10,388.90 1,105.98 2,194.35 34.83
Oil *
77.74
UP
22.75
UP
6.06
UP
21.21
UP
1.03
10 Yr
3.48%
SPDR Gold
113.75
+0.22%
+0.55%
+0.98%
+3.05%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services