MPC) has announced that it has issued notices of redemption to redeem all of the $475 million outstanding aggregate principal amount of its 5.375% senior notes due Oct. 1, 2022.” data-reactid=”12″>Marathon Petroleum (MPC) has announced that it has issued notices of redemption to redeem all of the $475 million outstanding aggregate principal amount of its 5.375% senior notes due Oct. 1, 2022.
This includes the notes for which Andeavor LLC, a wholly-owned subsidiary of MPC, is the obligor. The 2022 senior notes are expected to be redeemed on Oct. 1, 2020, at a price equal to par.
According to MPC, the regular semi-annual interest payment due on the 2022 senior notes on Oct. 1, 2020, will be paid as usual to holders of record at the close of business on Sept. 15, 2020.
price target of $47, indicating 34% upside potential from current levels.” data-reactid=”19″>Shares in the downstream energy company have plunged 42% year-to-date, and analysts have a cautiously optimistic Moderate Buy consensus on the stock’s outlook. That’s with an average analyst price target of $47, indicating 34% upside potential from current levels.
Doug Leggate.” data-reactid=”20″>“Retain Buy rating on shares that continue to offer an attractive entry point versus mid cycle with a current 6.1% dividend yield” commented Merrill Lynch analyst Doug Leggate.
He boosted his price target on the stock from $61 to a Street-high $66 after MPC announced an all-cash sale of its Speedway retail network to Seven & I Holdings for $16.5bn after tax- transforming the company’s balance sheet.
See MPC stock analysis on TipRanks)” data-reactid=”22″>“With the best balance sheet of the US independent refiners (post sale) and a yield, above 6%, that has greater surety or capacity for growth on a pre-share basis than any of the other refiners in the sector we view MPC as our top refining idea,” Leggate concluded. (See MPC stock analysis on TipRanks)
Tesla Plans To Raise $5B Via Share Bonanza; Stock Gains 3% In Pre-Market
Buffett’s Berkshire Built Positions In Japan’s 5 Largest Trading Firms
NextEra Reveals 700 MW Battery Storage Project To Double US Capacity” data-reactid=”31″>Related News:
Tesla Plans To Raise $5B Via Share Bonanza; Stock Gains 3% In Pre-Market
Buffett’s Berkshire Built Positions In Japan’s 5 Largest Trading Firms
NextEra Reveals 700 MW Battery Storage Project To Double US Capacity
More recent articles from Smarter Analyst:
