NYSE: MMP Morgan Stanley Wealth Management August 6, 2020
Straight-forward governance and organization Investment grade MLP with no incentive distribution rights Strong governance, with all board members elected by the public 8 of 9 board members are independent Public 100% LP…
Refined products segment Longest refined petroleum products pipeline system in the U.S., primarily transporting gasoline and diesel fuel, with 9,800 miles, 54 terminals and 46mm barrels of storage Profit driven by throughput volume…
Crude oil segment 2,200 miles of crude oil pipelines, substantially backed by long-term throughput commitments 37mm barrels of total crude oil storage, including 25mm barrels used for contract storage, with largest locations in…
Primarily fee-based business Magellans business model is primarily focused on fee-based, low-risk activities, which are expected to comprise 85%+ of future operating margin* 2019 transportation results benefited from spot revenue and…
Best-in-class returns Magellan has proven track record of delivering superior returns Over the last 10 years, Magellan has invested 6.3 billion in expansion capital related to the build out of our crude oil and refined products…
Conservative financial profile Sector-leading credit metrics One of the highest-rated midstream companies at BBB+ / Baa1 Long-standing target maximum leverage ratio of < 4x debt-to-EBITDA (3.0x at 6/30/20) Significant liquidity with…
Magellan investment highlights Essential U.S. petroleum midstream infrastructure Straight-forward primarily fee-based business model Proven history of strong returns on invested capital, cash flow growth and distribution coverage…
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