Magellan Midstream's pipeline project in Little Rock advances to next phase Magellan Midstream received sufficient commitments through its recent open season to proceed to the next phase for its potential pipeline to Little Rock, Arkansas. Management is currently negotiating an agreement to utilize a portion of an existing third-party pipeline. Subject to finalizing this agreement and receipt of the necessary permits and regulatory approval for the pipeline construction, the potential Little Rock pipeline could be operational in late 2015.
Magellan Midstream upgraded at Argus As noted earlier, Argus upgraded Magellan Midstream to Buy from Hold. The firm thinks that projects not yet included in the company's official capex plan should enable it to increase its distribution more quickly than previously expected. Argus thinks the long-term nature of Magellan's deals should mitigate the impact of falling oil prices. Target $90.