Equities Analysts Issue Forecasts for Magellan Midstream Partners, L.P.’s Q1 2022 Earnings (NYSE:MMP)

Magellan Midstream Partners, L.P. (NYSE:MMPGet Rating) – Research analysts at US Capital Advisors issued their Q1 2022 EPS estimates for shares of Magellan Midstream Partners in a report issued on Monday, April 25th. US Capital Advisors analyst J. Carreker expects that the pipeline company will post earnings per share of $1.03 for the quarter. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q2 2022 earnings at $1.02 EPS, Q3 2022 earnings at $0.98 EPS, Q4 2022 earnings at $1.15 EPS, FY2022 earnings at $4.18 EPS, Q1 2023 earnings at $1.09 EPS, Q3 2023 earnings at $1.06 EPS, Q4 2023 earnings at $1.22 EPS and FY2023 earnings at $4.44 EPS.

Several other equities research analysts have also recently weighed in on MMP. Barclays cut shares of Magellan Midstream Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $51.00 in a research report on Thursday, January 20th. StockNews.com initiated coverage on shares of Magellan Midstream Partners in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho lifted their price target on shares of Magellan Midstream Partners from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 30th. Bank of America lowered their price target on shares of Magellan Midstream Partners from $50.00 to $49.00 and set an “underperform” rating for the company in a research report on Tuesday, January 18th. Finally, Morgan Stanley lifted their price target on shares of Magellan Midstream Partners from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Magellan Midstream Partners presently has a consensus rating of “Hold” and an average price target of $51.60.

MMP opened at $50.07 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.83 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $10.63 billion, a PE ratio of 11.20, a PEG ratio of 4.73 and a beta of 1.04. Magellan Midstream Partners has a 1-year low of $43.58 and a 1-year high of $53.85. The firm has a 50-day moving average price of $49.15 and a two-hundred day moving average price of $48.21.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Monday, May 2nd will be paid a dividend of $1.0375 per share. This represents a $4.15 annualized dividend and a yield of 8.29%. The ex-dividend date is Friday, April 29th. Magellan Midstream Partners’s payout ratio is 92.84%.

A number of institutional investors have recently added to or reduced their stakes in MMP. Commonwealth Equity Services LLC boosted its stake in Magellan Midstream Partners by 4.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,284 shares of the pipeline company’s stock worth $3,841,000 after acquiring an additional 3,509 shares during the last quarter. AE Wealth Management LLC lifted its stake in Magellan Midstream Partners by 35.7% in the third quarter. AE Wealth Management LLC now owns 5,823 shares of the pipeline company’s stock valued at $265,000 after buying an additional 1,532 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Magellan Midstream Partners by 15.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,406 shares of the pipeline company’s stock valued at $1,295,000 after buying an additional 3,782 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Magellan Midstream Partners by 157.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 793 shares of the pipeline company’s stock valued at $36,000 after buying an additional 485 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Magellan Midstream Partners by 1.4% in the third quarter. Segall Bryant & Hamill LLC now owns 32,512 shares of the pipeline company’s stock valued at $1,483,000 after buying an additional 450 shares in the last quarter. 55.28% of the stock is currently owned by institutional investors and hedge funds.

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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