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IBM [IBM], here we come just maybe,” Gross wrote, noting that the tech company recently traded at 10 times earnings and offered a 5% yield.
Tesla (TSLA), is “definitely overvalued,” in Gross’ view, due in part to the run-up it saw from Robinhood traders he referred to as “groupies.”
As for where Gross is putting his money these days, he favors natural-gas pipeline stocks, which offer yields between 9% and 12% and, in some instances, tax advantages. Magellan Midstream Partners (MMP), BP Midstream Partners (BPMP), and Enterprise Products Partners (EPD) are among his picks. The three were all up more than 3% on Tuesday, while the S&P 500 gained 0.7%.
Author Bio
Reuben Gregg Brewer believes dividends are a window into a company s soul. He tries to invest in good souls.
Enterprise Products Partners (NYSE:EPD) is a bellwether name in the midstream oil and natural gas sector. However, those in the know are just as cognizant of the smaller
Magellan Midstream Partners (NYSE:MMP) and the long-term success it has achieved. The problem is that the future for the industry could be very different from the past, and one of these two partnerships is simply better positioned in what is a very uncertain time. Here s a closer look at this pair to help you understand why.
2 injured in Corpus Christi oil tank blast sue Magellan Midstream Partners
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State and local officials are monitoring the incident, which happened at the Magellan site where an oil storage tank exploded.Google Maps
A father and son injured in an explosion while cleaning a tank at a petroleum storage facility this month in Corpus Christi have sued Oklahoma-based pipeline company Magellan Midstream Partners for damages.
The lawsuit, filed in Nueces County last weekend, also asks the court to issue a temporary restraining order to prevent Magellan from altering or destroying evidence in the Dec. 5 blast and fire that injured seven workers.
Kherkher Garcia, LLP Files Suit on Behalf of Burn Victims in Magellan Oil Tank Explosion
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HOUSTON, Dec. 14, 2020 /PRNewswire/ The burn accident lawyers at Kherkher Garcia, LLP have filed suit on behalf of two workers seriously injured in the recent explosion at the Magellan Midstream Partners, L.P. facility on Refinery Row in Corpus Christi.
Aerial photo of the Magellan oil tank explosion in Corpus Christi, TX on December 5, 2020.
On the morning of December 5, 2020, workers for the Crosby, TX-based Shelton Services Inc. were cleaning a crude oil storage tank at the Magellan terminal on Poth Road when a massive explosion erupted. Firefighters spent several hours extinguishing the flames. At least seven Shelton Services crewmembers were injured in the explosion, several of whom were later transported to a specialized burn center in San Antonio for treatment. Magellan Midstream Partners, L.P. (NYSE: MMP) is one of th