Magellan Midstream Partners operates the longest refined petroleum products pipeline system in the US, with access to nearly half of the nation's refining capacity and the ability to store over 100 million barrels of petroleum products. They also own and operate crude oil pipelines and storage facilities, as well as marine terminals along coastal waterways. The company's primarily fee-based business model, low-risk growth projects, and attractive quarterly cash distributions make it an investment-grade company.