US Capital Advisors Brokers Increase Earnings Estimates for Magellan Midstream Partners, L.P. (MMP)

Magellan Midstream Partners, L.P. (NYSE:MMP) – US Capital Advisors lifted their FY2017 earnings per share (EPS) estimates for Magellan Midstream Partners in a research note issued to investors on Thursday. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $4.01 per share for the year, up from their previous estimate of $3.93. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q4 2017 earnings at $1.16 EPS, Q2 2018 earnings at $1.01 EPS, Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.13 EPS and FY2019 earnings at $4.49 EPS.

Magellan Midstream Partners (NYSE:MMP) last posted its earnings results on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.02. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The firm had revenue of $551.80 million for the quarter, compared to analysts’ expectations of $610.12 million. During the same period last year, the firm earned $0.91 EPS. The company’s quarterly revenue was down 3.7% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the company. Credit Suisse Group assumed coverage on Magellan Midstream Partners in a research report on Thursday. They set an “underperform” rating on the stock. BMO Capital Markets assumed coverage on Magellan Midstream Partners in a research report on Monday, December 11th. They set a “buy” rating and a $80.00 target price on the stock. Mizuho restated a “sell” rating and set a $72.00 target price on shares of Magellan Midstream Partners in a research report on Friday, October 20th. Finally, Citigroup upgraded Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, September 21st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $77.97.

Shares of Magellan Midstream Partners (NYSE MMP) opened at $72.45 on Friday. Magellan Midstream Partners has a 12-month low of $63.55 and a 12-month high of $81.77. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. The company has a market capitalization of $16,520.00, a PE ratio of 19.58, a PEG ratio of 2.38 and a beta of 0.77.

A number of hedge funds have recently bought and sold shares of the stock. Atlantic Trust Group LLC boosted its holdings in Magellan Midstream Partners by 43.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 3,149,302 shares of the pipeline company’s stock worth $223,789,000 after buying an additional 953,808 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Magellan Midstream Partners by 3.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 502,232 shares of the pipeline company’s stock worth $35,689,000 after buying an additional 14,894 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Magellan Midstream Partners by 59.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 225,985 shares of the pipeline company’s stock worth $16,058,000 after buying an additional 84,540 shares during the last quarter. Institutional & Family Asset Management LLC boosted its holdings in Magellan Midstream Partners by 54.4% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 79,905 shares of the pipeline company’s stock worth $5,678,000 after buying an additional 28,155 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in Magellan Midstream Partners by 5.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,238,881 shares of the pipeline company’s stock worth $1,011,815,000 after buying an additional 717,317 shares during the last quarter. Institutional investors own 62.04% of the company’s stock.

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