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This stock no longer trades (delisted September 22, 2023)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Stock

Magellan Midstream Partners, L.P.

MMP
56
Oil & Gas Midstream · Energy
Price
$69.00
+0.46 (+0.67%)
Market Cap
$13.94B
Exchange
New York Stock Exchange
Winston Score
56
Historical score — this stock no longer trades, so the score is frozen at the last available data.
Data as of Oct 18, 2026 · filings through Jun 30, 2023

§How the score breaks down

Quality
Good
20/30
Growth
Strong
14/20
Cash Flow
Exceptional
10/10
Stability
Mixed
4/10
Valuation
Good
5/10
Ownership
Weak
2/15
Dividends
Weak
1/5

56 of 100 counted points = Winston Score 56.

Share count falling — buybacks

−8.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 228.6M (2018) → 209.6M (2022)

§Winston Score History

The full picture

Magellan Midstream Partners was a major U.S. pipeline company that transported, stored, and distributed refined petroleum products like gasoline, diesel, and jet fuel. It operated the longest refined products pipeline system in the country, serving refiners, marketers, and end users across the central and eastern United States. In 2023, ONEOK completed its acquisition of Magellan, combining the two midstream energy companies.

Magellan made money by charging fees to move and store petroleum products and crude oil through its roughly 13,000-mile pipeline network and storage terminals. Its extensive, hard-to-replicate pipeline infrastructure served as a strong competitive moat, since building new pipelines requires significant capital and regulatory approval. Following the ONEOK merger, Magellan's units were delisted, and the combined company now operates as ONEOK, meaning MMP no longer trades as a separate public entity.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+37.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.4%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$988M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Magellan Midstream Partners, L.P. is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
59.8%
Premium pricing power — 59.8% gross margin
Profit after running costs
Operating Margin
33.6%
Excellent — 33.6% operating margin
Return on the money invested
ROCE
5.9%
Weak — 5.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+19.7%
Fast-growing sales (+19.7% YoY)
Profit growth
EPS YoY
+30.1%
Earnings growing fast (+30.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
146%
Turns 146% of profit into real cash
Spare cash per sale
FCF Margin
37.8%
Converts sales into free cash efficiently (37.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
2.77
Heavy debt load (2.77)
Covers its interest
Interest Cover
5.06x
Adequate interest coverage (5.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
13.7x
Attractive valuation — P/E 13.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.43%
Small dividend — 1.43% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-18.5%
Dividend cut (-18.5% YoY) — warning sign
Payout Ratio
84%
no trend
Most of the profit goes out as dividends. Little left to reinvest, and less cushion if earnings dip.

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