$1.06 EPS Expected for Magellan Midstream Partners, L.P. (NYSE:MMP) This Quarter

Equities analysts expect Magellan Midstream Partners, L.P. (NYSE:MMP – Get Rating) to post earnings of $1.06 per share for the current quarter, according to Zacks. Two analysts have made estimates for Magellan Midstream Partners’ earnings. The lowest EPS estimate is $0.99 and the highest is $1.16. Magellan Midstream Partners reported earnings of $1.38 per share during the same quarter last year, which would indicate a negative year over year growth rate of 23.2%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Magellan Midstream Partners will report full-year earnings of $4.25 per share for the current financial year, with EPS estimates ranging from $4.13 to $4.36. For the next year, analysts expect that the firm will post earnings of $4.54 per share, with EPS estimates ranging from $4.30 to $4.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMP – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.27). The business had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $704.74 million. Magellan Midstream Partners had a net margin of 33.36% and a return on equity of 50.45%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS.

A number of equities analysts have weighed in on the company. TD Securities boosted their price objective on Magellan Midstream Partners from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, May 6th. Morgan Stanley upped their price objective on shares of Magellan Midstream Partners from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Tuesday, April 26th. Barclays downgraded shares of Magellan Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $51.00 in a research note on Thursday, January 20th. Mizuho increased their price target on shares of Magellan Midstream Partners from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, March 30th. Finally, Bank of America reduced their price target on shares of Magellan Midstream Partners from $50.00 to $49.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.56.

Shares of MMP stock traded up $0.71 during trading hours on Friday, reaching $48.58. The company had a trading volume of 1,709,865 shares, compared to its average volume of 1,287,440. Magellan Midstream Partners has a 12-month low of $43.58 and a 12-month high of $53.85. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 4.34 and a beta of 0.96. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.83 and a current ratio of 1.24. The stock has a fifty day moving average of $49.40 and a 200-day moving average of $48.15.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 2nd were paid a dividend of $1.0375 per share. This represents a $4.15 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date was Friday, April 29th. Magellan Midstream Partners’s dividend payout ratio (DPR) is 97.42%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. grew its holdings in Magellan Midstream Partners by 13.6% during the 3rd quarter. Advisor Group Holdings Inc. now owns 105,960 shares of the pipeline company’s stock worth $4,829,000 after acquiring an additional 12,707 shares in the last quarter. Truist Financial Corp raised its stake in Magellan Midstream Partners by 2.2% in the third quarter. Truist Financial Corp now owns 87,177 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 1,879 shares in the last quarter. Ieq Capital LLC lifted its holdings in Magellan Midstream Partners by 17.2% during the 3rd quarter. Ieq Capital LLC now owns 14,441 shares of the pipeline company’s stock worth $659,000 after buying an additional 2,117 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Magellan Midstream Partners by 16.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 44,098 shares of the pipeline company’s stock valued at $2,010,000 after acquiring an additional 6,200 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Magellan Midstream Partners by 1.7% during the 3rd quarter. BlackRock Inc. now owns 37,792 shares of the pipeline company’s stock worth $1,722,000 after acquiring an additional 633 shares in the last quarter. 53.28% of the stock is owned by institutional investors and hedge funds.

About Magellan Midstream Partners (Get Rating)

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates through Refined Products and Crude Oil segments. The company operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.

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