Magellan Midstream Partners (MMP) is one of America’s largest and oldest MLPs and specializes in refined petroleum products. The MLP's pipeline systems are utilized by energy companies such as Marathon, Valero, HollyFrontier, and Phillips 66. Magellan transports products such as gasoline and diesel fuel from refineries, helping them eventually reach gasoline stations, truck stops, airports, and other end users. Magellan owns the longest refined products pipeline system in the country, extending over 9,700 miles from the Gulf Coast and covering more than a dozen states across the central U.S. The MLP also owns more than 40 million barrels of storage capacity at 53 connected terminals, over 3,000 miles of ammonia and crude oil pipelines, and six marine storage terminals.

Uniti Group (UNIT), a wireless infrastructure REIT, has sported a "Very Unsafe" Dividend Safety Score and a double-digit yield for years. In our April 2018 thesiswe made the following remarks: "Uniti Group appears to be cheap for a reason and is a very high risk dividend stock. The company's payout could be reduce substantially at any time in order to redirect the cash flow to the REIT's much needed diversification efforts... Uniti's high yield is due to some major problems that the REIT has not yet shown an ability to overcome. The company's reliance on just one distressed tenant has caused its own credit ratings to be slashed to low-grade junk status, and Uniti now faces an inability to raise any equity capital [...]

Consolidated Edison (ED) was founded in 1884 and serves as a regulated electric and gas utility to the New York metro areas and Westchester County, NY. Con Edison's principal business segments are: Con Edison of New York (88% of 2018 earnings): provides electric service to approximately 3.5 million customers and gas service to about 1.1 million customers in New York City and Westchester County. The company also provides steam service in parts of Manhattan for heating purposes. Orange & Rockland (4%): provides electric service to more than 300,000 customers in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service to over 100,000 customers in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison [...]

Kraft Heinz (KHC) reported a bombshell earnings report this evening, validating investor concerns over the company's struggling turnaround. The bad news included: A $15.4 billion non-cash impairment charge related to the value of its Kraft natural cheese, Oscar Mayer cold cuts, and Canadian retail businesses An investigation by the SEC into the firm's accounting policies related to its procurement area 2019 guidance calling for a 10% decline in EBITDA, missing analyst estimates by nearly 15% A 37% dividend cut to accelerate deleveraging and position the company for more acquisitions to continue consolidating the industry