Aggressive · Stocks to Consider and Updates

Marathon to Acquire Terminal and Retail Locations in Buffalo

Marathon Petroleum Corp. (NYSE: MPC – $62.78) said it agreed to buy a 900,000-barrel capacity intermodal fuel terminal and 33 NOCO Express retail stores in the Buffalo, New York area from privately held NOCO Inc. for an undisclosed amount. The Findlay, Ohio, downstream energy company said the light product and asphalt terminal is positioned to receive supply from the Midwest, Canada and the New York Harbor via multiple supply routes, including pipeline, ship, rail or truck. Marathon’s Speedway unit, which owns and operates around 2,740 gasoline and retail convenience stores, acquired 78 Express Mart locations in western New York last year. The NOCO deal should nicely enhance the company’s presence in western New York State.

       Marathon, with a yield of 3.4%, has many attractive attributes for long-term aggressive investors. This highly diversified fuel supplier is among the best positioned in the industry. The largest U.S. refiner completed its acquisition of Andeavor in October of last year. MPC also owns the general partner and majority limited partner interests in two midstream companies, MPLX LP and Andeavor Logistics LP, which own and operate gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s