What happened to Magellan Midstream Partners stock?
On September 25, 2023, ONEOK, Inc. (NYSE: OKE) acquired all of the outstanding common units of Magellan Midstream Partners, L.P. (MMP) in a cash and stock transaction. Common units of Magellan are no longer publicly traded.
Who bought Magellan Midstream Partners?
September 25, 2023, marked the start of an exciting new chapter for ONEOK as we completed our acquisition of Magellan Midstream Partners.
What did ONEOK pay for Magellan Midstream Partners?
OKE announced the completion of its previously announced acquisition of Magellan Midstream Partners, L.P. This $18.8-billion merger deal created one of the largest oil and natural gas pipeline companies in the United States.
Is Magellan Midstream a good investment?
Stock to Watch: Magellan Midstream Partners (MMP)
MMP is a #2 (Buy) on the Zacks Rank, with a VGM Score of B. Momentum investors should take note of this Oils-Energy stock. MMP has a Momentum Style Score of B, and shares are up 4.9% over the past four weeks.
What is the ticker symbol for Magellan Midstream Partners?
The Magellan Midstream Partners LP stock price today is 69.00. What Is the Stock Symbol for Magellan Midstream Partners LP? The stock symbol for Magellan Midstream Partners LP is "MMP."
Was Magellan bought out?
The $18.8 billion purchase of Magellan Midstream Partners by ONEOK Inc. became official on Monday. “This is a significant day for Tulsa and the industry as we bring together the talented ONEOK and Magellan teams and look to the future as one company,” Pierce H.
Why are Magellan shares falling?
Magellan has witnessed a steady decline in FUM over the past few quarters. Institutional clients have withdrawn heavily from Magellan's funds, resulting in a dip in its FUM. The company even appointed a new chairman to its board last year to revitalize its strategic course.
Why has Magellan share price dropped?
Embattled fund manager Magellan has reported more outflows amid uncertain market conditions, with its share price plunging by almost a fifth after it said investors had pulled another $2 billion from the company last month.
How much is Magellan midstream worth?
Magellan Midstream Partners, L.P. In May 2023, midstream energy services provider Oneok agreed to acquire Magellan in a cash-and-stock transaction valued at US$18.8 billion, including debt.
What is the new name for Magellan?
Former name was Vista Behavioral Health Plans - Merit Behavioral Care of California merged into this entity and the name of the surviving entity was changed to Magellan Health Services of California, Inc. – Employer Services. Merger documents filed on 12/30/05 to be effective as of 9/30/05.
Who owns Magellan?
Did ONEOK buy Magellan in the $19 billion energy pipeline deal?
Sept 21 (Reuters) - Magellan Midstream Partners' (MMP. N) , opens new tab unitholders on Thursday voted in favour of its sale to larger rival ONEOK Inc (OKE. N) , opens new tab for $18.8 billion, creating one of the largest U.S. energy pipeline companies.
Is Magellan Midstream Partners a buy or sell?
Magellan Midstream Partners currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
Who is the largest midstream company in the US?
Largest North American Midstream Oil and Gas Companies by Market Cap (2022): Enbridge.
What is the best midstream stock?
| Name | Last Price | YTD Return |
|---|---|---|
| EPD Enterprise Products Partners L.P. | 28.91 | +9.72% |
| ET Energy Transfer LP | 15.90 | +15.22% |
| WMB The Williams Companies, Inc. | 38.78 | +11.34% |
| OKE ONEOK, Inc. | 80.35 | +14.43% |
How many employees does Magellan midstream partners have?
| Magellan Midstream Partners, L.P. Annual Employee Count | |
|---|---|
| 2022 | 1,655 |
| 2021 | 1,715 |
| 2020 | 1,720 |
| 2019 | 1,884 |
What is the payout for the MMP merger?
Upon completion of the merger, Magellan unitholders will receive $25 in cash and 0.667 shares of ONEOK common stock for each outstanding Magellan common unit they hold.
How much did Magellan sell for?
It was announced last week that investors have approved ONEOK's $18.8 billion buyout of Magellan Midstream Partners. Final approval of the buyout — the largest private transaction in state history — is expected on Monday.
When did Prime buy Magellan?
– Dec. 5, 2022 – Leading pharmacy benefit manager (PBM) Prime Therapeutics LLC (Prime) today finalized the previously announced acquisition of Magellan Rx Management, (Magellan Rx), the pharmacy division of Magellan Health, from Centene Corporation.
Does Magellan pay a dividend?
Dividend Summary
There are typically 2 dividends per year (excluding specials), and the dividend cover is approximately 1.2. Our premium tools have predicted Magellan Financial Group Limited with 31% accuracy.
What stocks does Magellan own?
| Company | Symbol | Total Net Assets |
|---|---|---|
| Microsoft Corp. | MSFT | 8.38% |
| NVIDIA Corp. | NVDA | 5.01% |
| Amazon.com Inc. | AMZN | 4.52% |
| Meta Platforms Inc. | META | 3.45% |
Did the average investor lost money in the Magellan fund?
Given that amazing performance, you would expect that Magellan Fund investors got really rich during Lynch's tenure. Shockingly, a study by Fidelity Investments found otherwise. The average investor lost money under Lynch's leadership.
What has happened to Magellan Financial Group?
Magellan shares hit 10-year low as it continues to bleed funds. The fund manager's share price plunged by almost a fifth on Friday after it said investors pulled another $2 billion from the company last month.
What is the outlook for Magellan Financial Group?
Magellan Financial Group's revenue and earnings are forecast to decline at 14.2% and 13.1% per annum respectively. EPS is expected to decline by 14.9% per annum. Return on equity is forecast to be 11.3% in 3 years.
What happened to Magellan fund?
Magellan Asset Management Limited ACN 120 593 946 (Magellan), in its capacity as Responsible Entity for Magellan FuturePay (FuturePay), has resolved to terminate FuturePay (Closure) and return to investors their capital in the fund. The Closure took effect on Wednesday, 20 July 2022 (Closure Date).
