Analysts expect that Magellan Midstream Partners, L.P. (NYSE:MMP) will announce $1.01 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Magellan Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.92. Magellan Midstream Partners posted earnings per share of $0.87 in the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Magellan Midstream Partners will report full-year earnings of $4.01 per share for the current year, with EPS estimates ranging from $3.89 to $4.12. For the next financial year, analysts expect that the business will post earnings of $4.25 per share, with EPS estimates ranging from $4.03 to $4.45. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Magellan Midstream Partners.
Magellan Midstream Partners (NYSE:MMP) last announced its earnings results on Thursday, August 2nd. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. Magellan Midstream Partners had a return on equity of 42.90% and a net margin of 33.54%. The business had revenue of $644.10 million during the quarter, compared to the consensus estimate of $662.37 million. During the same period in the prior year, the business posted $0.91 earnings per share. Magellan Midstream Partners’s revenue was up 4.0% compared to the same quarter last year.
Several research firms recently weighed in on MMP. Zacks Investment Research lowered Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Barclays upped their price target on Magellan Midstream Partners from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Monday, August 6th. ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Stifel Nicolaus upped their price target on Magellan Midstream Partners from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Finally, BMO Capital Markets reissued a “buy” rating and set a $85.00 price target on shares of Magellan Midstream Partners in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $74.92.
A number of large investors have recently made changes to their positions in MMP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Magellan Midstream Partners during the 2nd quarter valued at approximately $106,000. Legacy Advisors LLC boosted its stake in Magellan Midstream Partners by 87.3% during the 2nd quarter. Legacy Advisors LLC now owns 1,547 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 721 shares during the period. Well Done LLC bought a new stake in Magellan Midstream Partners during the 1st quarter valued at approximately $135,000. Lee Financial Co boosted its stake in Magellan Midstream Partners by 335.1% during the 1st quarter. Lee Financial Co now owns 2,802 shares of the pipeline company’s stock valued at $164,000 after purchasing an additional 2,158 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Magellan Midstream Partners during the 2nd quarter valued at approximately $165,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.
NYSE:MMP traded up $0.02 during trading hours on Friday, hitting $69.13. 566,400 shares of the company’s stock traded hands, compared to its average volume of 937,440. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.72 and a beta of 0.80. Magellan Midstream Partners has a twelve month low of $54.82 and a twelve month high of $75.82. The company has a current ratio of 0.54, a quick ratio of 0.31 and a debt-to-equity ratio of 2.04.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were paid a dividend of $0.957 per share. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, August 6th. This represents a $3.83 annualized dividend and a yield of 5.54%. Magellan Midstream Partners’s dividend payout ratio is presently 100.52%.
Magellan Midstream Partners Company Profile
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.
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