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 to Buy from Neutral at Ladenburg Ladenburg upgraded Magellan Midstream to Buy citing the recent pullback in shares. The firm raised its price target for the stock to $90 from $84.