Magellan Midstream Partners (MMP) Set to Announce Quarterly Earnings on Thursday

Magellan Midstream Partners (NYSE:MMPGet Rating) will be announcing its earnings results before the market opens on Thursday, May 5th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Magellan Midstream Partners (NYSE:MMPGet Rating) last announced its earnings results on Wednesday, February 2nd. The pipeline company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.12. Magellan Midstream Partners had a net margin of 35.54% and a return on equity of 49.54%. The firm had revenue of $809.30 million for the quarter, compared to analysts’ expectations of $732.93 million. On average, analysts expect Magellan Midstream Partners to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Shares of MMP stock opened at $50.07 on Thursday. Magellan Midstream Partners has a 12 month low of $43.58 and a 12 month high of $53.85. The stock has a market cap of $10.63 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 4.73 and a beta of 1.04. 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 company’s fifty day moving average price is $49.15 and its 200-day moving average price is $48.21.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Monday, May 2nd will be issued a dividend of $1.0375 per share. This represents a $4.15 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date is Friday, April 29th. Magellan Midstream Partners’s dividend payout ratio (DPR) is presently 92.84%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG increased its position in shares of Magellan Midstream Partners by 38.7% during the 4th quarter. Deutsche Bank AG now owns 2,092,480 shares of the pipeline company’s stock valued at $97,175,000 after purchasing an additional 583,601 shares during the last quarter. Barclays PLC increased its position in shares of Magellan Midstream Partners by 96.7% during the 4th quarter. Barclays PLC now owns 734,620 shares of the pipeline company’s stock valued at $34,116,000 after purchasing an additional 361,151 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Magellan Midstream Partners by 71.2% during the 4th quarter. Wells Fargo & Company MN now owns 657,705 shares of the pipeline company’s stock valued at $30,544,000 after purchasing an additional 273,477 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Magellan Midstream Partners by 30.7% during the 4th quarter. Nuveen Asset Management LLC now owns 119,617 shares of the pipeline company’s stock valued at $5,555,000 after purchasing an additional 28,118 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Magellan Midstream Partners by 47.7% during the 4th quarter. NewEdge Advisors LLC now owns 35,679 shares of the pipeline company’s stock valued at $1,657,000 after purchasing an additional 11,530 shares during the last quarter. Institutional investors and hedge funds own 55.28% of the company’s stock.

A number of analysts have recently commented on MMP shares. Bank of America dropped their target price on shares of Magellan Midstream Partners from $50.00 to $49.00 and set an “underperform” rating on the stock in a report on Tuesday, January 18th. StockNews.com assumed coverage on shares of Magellan Midstream Partners in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley upped 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 note on Tuesday. Barclays cut shares of Magellan Midstream Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $53.00 to $51.00 in a research note on Thursday, January 20th. Finally, Mizuho upped 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 note on Wednesday, March 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.60.

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.

Recommended Stories

Earnings History for Magellan Midstream Partners (NYSE:MMP)

Receive News & Ratings for Magellan Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.