Stock BuybacksBy The Online Investor Staff, updated Fri., Jan. 24, 5:19 PM
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Slide #3. Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE:MMP)
Magellan Midstream Partners, L.P. also announced that its board of directors has authorized the repurchase of up to $750 million of common units through 2022. Magellan intends to purchase its common units from time-to-time through a variety of methods, including open market purchases and negotiated transactions, all in compliance with the rules of the Securities and Exchange Commission and other applicable legal requirements.
Magellan Midstream Partners is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. Co.'s segments are: refined products, which consists of its refined products pipeline system, independent terminals and ammonia pipeline system; crude oil, which comprises crude oil pipelines, condensate splitter and storage facilities and ships crude oil as a common carrier for customers including crude oil producers, end users such as refiners, and marketing and trading companies; and marine storage, which owns and operates marine storage terminals located along coastal waterways.
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Buy (2.80 out of 4)
(ranked lower than approx. 73% of all stocks covered)
Based on Zacks ABR data;
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