Q3 2018 EPS Estimates for Magellan Midstream Partners Decreased by Analyst (MMP)

Magellan Midstream Partners (NYSE:MMP) – Stock analysts at US Capital Advisors decreased their Q3 2018 earnings per share estimates for Magellan Midstream Partners in a report released on Monday, May 14th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $1.06 for the quarter, down from their previous forecast of $1.07. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.29 EPS and FY2019 earnings at $4.41 EPS.

Several other analysts have also recently commented on the stock. Morgan Stanley decreased their price target on shares of Magellan Midstream Partners from $73.00 to $69.00 and set an “underweight” rating for the company in a report on Friday, March 16th. Royal Bank of Canada upgraded shares of Magellan Midstream Partners from a “sector perform” rating to an “outperform” rating and set a $79.00 target price for the company in a research note on Monday, April 9th. UBS lifted their target price on shares of Magellan Midstream Partners from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Jefferies Group upgraded shares of Magellan Midstream Partners from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Thursday, April 5th. Finally, Barclays reduced their target price on shares of Magellan Midstream Partners from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Magellan Midstream Partners has an average rating of “Hold” and an average price target of $73.67.

MMP stock opened at $69.60 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.63 and a debt-to-equity ratio of 2.00. The company has a market cap of $15.74 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.83 and a beta of 0.71. Magellan Midstream Partners has a 52 week low of $69.04 and a 52 week high of $69.74.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $669.70 million. Magellan Midstream Partners had a net margin of 33.71% and a return on equity of 41.57%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share.

Several large investors have recently added to or reduced their stakes in the company. Cypress Wealth Advisors LLC raised its position in shares of Magellan Midstream Partners by 2.7% in the first quarter. Cypress Wealth Advisors LLC now owns 28,245 shares of the pipeline company’s stock valued at $1,648,000 after purchasing an additional 750 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Magellan Midstream Partners by 3.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 27,006 shares of the pipeline company’s stock valued at $1,576,000 after purchasing an additional 784 shares during the period. Cetera Advisors LLC raised its position in shares of Magellan Midstream Partners by 3.7% in the first quarter. Cetera Advisors LLC now owns 22,408 shares of the pipeline company’s stock valued at $1,313,000 after purchasing an additional 796 shares during the period. US Bancorp DE raised its position in shares of Magellan Midstream Partners by 0.9% in the fourth quarter. US Bancorp DE now owns 108,898 shares of the pipeline company’s stock valued at $7,725,000 after purchasing an additional 964 shares during the period. Finally, Wasatch Advisors Inc. raised its position in shares of Magellan Midstream Partners by 4.0% in the first quarter. Wasatch Advisors Inc. now owns 25,771 shares of the pipeline company’s stock valued at $1,504,000 after purchasing an additional 1,000 shares during the period. 62.12% of the stock is currently owned by institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Sunday, August 5th were paid a $0.9375 dividend. The ex-dividend date of this dividend was Monday, May 7th. This is a boost from Magellan Midstream Partners’s previous quarterly dividend of $0.92. This represents a $3.75 dividend on an annualized basis and a yield of 5.39%. Magellan Midstream Partners’s payout ratio is 98.43%.

About Magellan Midstream Partners

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 through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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

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