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MMP's Strong Distribution History Helps it Reach 'Top MLP'

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Magellan Midstream Partners LP (MMP) has been named as a top ranked MLP, according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the coverage universe of Master Limited Partnerships (MLPs), MMP shares displayed both attractive valuation metrics and strong profitability metrics. The report also cited the strong quarterly distribution history at Magellan Midstream Partners LP, and favorable long-term multi-year growth rates in key fundamental data points.

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The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''

MLPs are publicly traded limited partnerships, generating at least 90% of their income from sources deemed by the IRS to be qualifying, such as energy infrastructure like pipelines. The MLP structure provides a tax advantage, but also generates K1's to investors. Click here to see a popular MLP ETF, and see the components and their weights, at ETFChannel.com »

The current annualized distribution paid by Magellan Midstream Partners LP is $4.11/unit, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/06/2021. Below is a long-term distribution history chart for MMP, which the report stressed as being of key importance. Indeed, studying a company's past distribution history can be of good help in judging whether the most recent level is likely to continue.