Sunoco LP (SUN - Free Report) announced that it has closed the acquisition of eight refined products terminals from NuStar Energy LP . The transaction has been valued at roughly $250 million.
The leading distributor of motor fuel added that on Sep 24, the acquisition of a refined products terminal from Cato Incorporated was also completed. The master limited partnership funded the transactions with cash on hand and amounts available under its revolving credit facility.
Sunoco believes that its midstream business has significantly expanded with the closure of the deals.
The outlook for midstream business has improved considerably. This is because fuel demand has increased significantly, calling for increased volumes of liquids being stored and transported. Being involved in distributing motor fuel to roughly 10,000 convenience stores, distributors, commercial customers and independent dealers, Sunoco is well placed to generate additional cashflows.
Two other players with solid footings in the midstream space are Kinder Morgan, Inc. (KMI - Free Report) and Enbridge Inc (ENB - Free Report) . Being a transporter of roughly 1.7 million barrels per day (MMB/D) of refined products through its pipeline network spreading across 6,800 miles, Kinder Morgan is the largest independent transporter of refined products in North America. It also has operating interests in 144 terminals. Enbridge, in the meanwhile, has an extensive network of pipeline assets responsible for transporting roughly 25% of North American crude oil production.
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Sunoco LP (SUN - Free Report) announced that it has closed the acquisition of eight refined products terminals from NuStar Energy LP . The transaction has been valued at roughly $250 million.
The leading distributor of motor fuel added that on Sep 24, the acquisition of a refined products terminal from Cato Incorporated was also completed. The master limited partnership funded the transactions with cash on hand and amounts available under its revolving credit facility.
Sunoco believes that its midstream business has significantly expanded with the closure of the deals.
The outlook for midstream business has improved considerably. This is because fuel demand has increased significantly, calling for increased volumes of liquids being stored and transported. Being involved in distributing motor fuel to roughly 10,000 convenience stores, distributors, commercial customers and independent dealers, Sunoco is well placed to generate additional cashflows.
Two other players with solid footings in the midstream space are Kinder Morgan, Inc. (KMI - Free Report) and Enbridge Inc (ENB - Free Report) . Being a transporter of roughly 1.7 million barrels per day (MMB/D) of refined products through its pipeline network spreading across 6,800 miles, Kinder Morgan is the largest independent transporter of refined products in North America. It also has operating interests in 144 terminals. Enbridge, in the meanwhile, has an extensive network of pipeline assets responsible for transporting roughly 25% of North American crude oil production.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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