5 Best Pipeline and MLP Stocks to Buy

4. Magellan Midstream Partners, L.P. (NYSE:MMP)

Number of Hedge Fund Holders: 9

Magellan Midstream Partners, L.P. (NYSE:MMP) is a crude oil transportation, storage, and distribution provider in the United States. The company transports refined petroleum products such as gasoline, aviation fuel, and kerosene to a host of different entities. It is headquartered in Tulsa, Oklahoma.

Magellan Midstream Partners, L.P. (NYSE:MMP) is America’s largest pipeline company, with the firm’s pipelines connected to close to half of the country’s refineries. The firm is also capable of storing an eye popping 100 million barrels of petroleum products.

Another key fact about Magellan Midstream Partners, L.P. (NYSE:MMP) is its fortress balance sheet. The latest metrics show that its debt to EBITDA ratio is at 3.7x, and all of its long term debt is maturing after 2025, and only 17% before 2030. All of these leave the firm in a very safe position. Magellan Midstream Partners, L.P. (NYSE:MMP) also pays a $1.04 dividend for an 8.69% yield. Insider Monkey’s Q2 2022 hedge fund survey covering 895 funds revealed that nine had invested in the company.

Magellan Midstream Partners, L.P. (NYSE:MMP)’s largest investor in our database is Jean-Marie Eveillard’s First Eagle Investment Management which owns 1.5 million shares that are worth $74 million.