$1.05 Earnings Per Share Expected for Magellan Midstream Partners, L.P. (NYSE:MMP) This Quarter

Brokerages expect Magellan Midstream Partners, L.P. (NYSE:MMPGet Rating) to report earnings per share of $1.05 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Magellan Midstream Partners’ earnings. The highest EPS estimate is $1.10 and the lowest is $1.02. Magellan Midstream Partners reported earnings of $1.09 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The business is expected to report its next quarterly earnings results before the market opens 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 year, with EPS estimates ranging from $4.07 to $4.38. For the next fiscal year, analysts expect that the firm will report earnings of $4.51 per share, with EPS estimates ranging from $4.30 to $4.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMPGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The pipeline company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.12 by $0.12. The firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $732.93 million. Magellan Midstream Partners had a return on equity of 49.54% and a net margin of 35.54%.

MMP has been the topic of several recent research reports. Bank of America reduced their price target on 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. Barclays lowered Magellan Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $53.00 to $51.00 in a research report on Thursday, January 20th. Morgan Stanley lowered Magellan Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $50.00 price target on the stock. in a research report on Friday, January 7th. StockNews.com initiated coverage on Magellan Midstream Partners in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Mizuho raised their price target on Magellan Midstream Partners from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Magellan Midstream Partners presently has an average rating of “Hold” and a consensus price target of $51.20.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rinkey Investments purchased a new position in shares of Magellan Midstream Partners in the 4th quarter valued at approximately $27,000. AGF Investments LLC purchased a new position in shares of Magellan Midstream Partners in the 3rd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Magellan Midstream Partners by 157.5% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 793 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 485 shares during the period. National Bank of Canada FI purchased a new position in shares of Magellan Midstream Partners in the 4th quarter valued at approximately $45,000. Finally, MCF Advisors LLC lifted its stake in shares of Magellan Midstream Partners by 890.8% in the 3rd quarter. MCF Advisors LLC now owns 971 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 873 shares during the period. Institutional investors own 55.28% of the company’s stock.

Shares of Magellan Midstream Partners stock opened at $51.36 on Friday. The business’s 50-day moving average price is $48.64 and its 200-day moving average price is $47.95. The company has a current ratio of 1.24, a quick ratio of 0.83 and a debt-to-equity ratio of 2.68. Magellan Midstream Partners has a 12 month low of $43.58 and a 12 month high of $53.85. The firm has a market capitalization of $10.91 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 4.59 and a beta of 1.04.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 14th. Shareholders of record on Monday, February 7th were issued a $1.0375 dividend. This represents a $4.15 annualized dividend and a yield of 8.08%. The ex-dividend date of this dividend was Friday, February 4th. Magellan Midstream Partners’s dividend payout ratio (DPR) is currently 92.84%.

Magellan Midstream Partners Company Profile (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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Earnings History and Estimates for Magellan Midstream Partners (NYSE:MMP)

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