Q4 2024 EPS Estimates for Magellan Midstream Partners, L.P. Raised by Zacks Research (NYSE:MMP)

Magellan Midstream Partners, L.P. (NYSE:MMP) – Equities researchers at Zacks Research increased their Q4 2024 earnings estimates for shares of Magellan Midstream Partners in a report issued on Wednesday, September 13th. Zacks Research analyst N. Choudhury now anticipates that the pipeline company will post earnings of $1.44 per share for the quarter, up from their previous forecast of $1.39. The consensus estimate for Magellan Midstream Partners’ current full-year earnings is $5.12 per share. Zacks Research also issued estimates for Magellan Midstream Partners’ Q1 2025 earnings at $1.26 EPS.

A number of other research firms also recently weighed in on MMP. TD Securities boosted their target price on shares of Magellan Midstream Partners from $67.50 to $69.00 and gave the stock a “tender” rating in a report on Friday, August 4th. Barclays upped their price target on shares of Magellan Midstream Partners from $60.00 to $68.00 in a report on Tuesday, July 18th. US Capital Advisors downgraded shares of Magellan Midstream Partners from an “overweight” rating to a “hold” rating in a report on Friday, May 19th. Argus downgraded shares of Magellan Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, StockNews.com initiated coverage on shares of Magellan Midstream Partners in a report on Friday. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.70.

Magellan Midstream Partners Stock Performance

Magellan Midstream Partners stock opened at $68.23 on Friday. The company’s 50-day moving average price is $65.59 and its 200-day moving average price is $60.12. Magellan Midstream Partners has a twelve month low of $45.52 and a twelve month high of $69.40. The company has a quick ratio of 0.60, a current ratio of 1.08 and a debt-to-equity ratio of 2.91. The company has a market cap of $13.79 billion, a PE ratio of 13.59 and a beta of 0.90.

Magellan Midstream Partners (NYSE:MMP) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. Magellan Midstream Partners had a net margin of 29.55% and a return on equity of 58.77%. The firm had revenue of $877.20 million for the quarter, compared to the consensus estimate of $797.91 million.

Magellan Midstream Partners Dividend Announcement

The business also recently announced a None dividend, which will be paid on Monday, September 25th. Shareholders of record on Thursday, September 21st will be paid a $0.247 dividend. The ex-dividend date is Wednesday, September 20th. Magellan Midstream Partners’s dividend payout ratio is currently 83.47%.

Hedge Funds Weigh In On Magellan Midstream Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its stake in Magellan Midstream Partners by 2.9% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 5,593 shares of the pipeline company’s stock worth $349,000 after acquiring an additional 160 shares in the last quarter. Magnolia Capital Management Ltd. lifted its position in shares of Magellan Midstream Partners by 0.9% in the 2nd quarter. Magnolia Capital Management Ltd. now owns 21,341 shares of the pipeline company’s stock worth $1,330,000 after purchasing an additional 185 shares during the period. SageView Advisory Group LLC lifted its position in shares of Magellan Midstream Partners by 2.4% in the 2nd quarter. SageView Advisory Group LLC now owns 8,254 shares of the pipeline company’s stock worth $514,000 after purchasing an additional 190 shares during the period. HB Wealth Management LLC lifted its position in shares of Magellan Midstream Partners by 0.9% in the 1st quarter. HB Wealth Management LLC now owns 22,923 shares of the pipeline company’s stock worth $1,244,000 after purchasing an additional 194 shares during the period. Finally, Colonial River Wealth Management LLC lifted its position in shares of Magellan Midstream Partners by 3.0% in the 1st quarter. Colonial River Wealth Management LLC now owns 6,685 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 195 shares during the period. 54.84% of the stock is currently owned by institutional investors.

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 refined products pipeline that transports gasoline, diesel and aviation fuel, kerosene, and heating oil to refiners, 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.