Brokerages expect Magellan Midstream Partners L.P. (NYSE:MMP) to post earnings of $0.97 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Magellan Midstream Partners L.P.’s earnings. The lowest EPS estimate is $0.90 and the highest is $0.99. Magellan Midstream Partners L.P. reported earnings per share of $0.91 during the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The firm is expected to report its next earnings report on Wednesday, November 1st.

On average, analysts expect that Magellan Midstream Partners L.P. will report full-year earnings of $3.89 per share for the current year, with EPS estimates ranging from $3.80 to $3.97. For the next year, analysts expect that the business will report earnings of $4.10 per share, with EPS estimates ranging from $3.91 to $4.46. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Magellan Midstream Partners L.P..

Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million for the quarter, compared to the consensus estimate of $561.70 million. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share.

A number of research analysts recently issued reports on MMP shares. Credit Suisse Group upgraded Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $84.00 in a research note on Thursday, May 4th. UBS AG upgraded Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub upgraded Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Mizuho downgraded Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $74.00 to $72.00 in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Magellan Midstream Partners L.P. has a consensus rating of “Hold” and an average target price of $79.40.

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Magellan Midstream Partners L.P. (NYSE:MMP) traded up 1.58% during midday trading on Friday, reaching $67.39. 533,497 shares of the company’s stock traded hands. The stock has a market cap of $15.37 billion, a PE ratio of 18.27 and a beta of 0.80. Magellan Midstream Partners L.P. has a one year low of $63.92 and a one year high of $81.77. The stock’s 50 day moving average price is $68.62 and its 200-day moving average price is $73.37.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.28%. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Thursday, July 27th. Magellan Midstream Partners L.P.’s dividend payout ratio is 96.74%.

Hedge funds have recently modified their holdings of the company. Eagle Ridge Investment Management boosted its stake in shares of Magellan Midstream Partners L.P. by 3.5% in the first quarter. Eagle Ridge Investment Management now owns 19,517 shares of the pipeline company’s stock valued at $1,501,000 after buying an additional 660 shares during the period. Nwam LLC boosted its stake in shares of Magellan Midstream Partners L.P. by 3.7% in the first quarter. Nwam LLC now owns 3,345 shares of the pipeline company’s stock valued at $257,000 after buying an additional 119 shares during the period. Syntal Capital Partners LLC boosted its stake in shares of Magellan Midstream Partners L.P. by 10.1% in the first quarter. Syntal Capital Partners LLC now owns 5,916 shares of the pipeline company’s stock valued at $454,000 after buying an additional 542 shares during the period. Sfmg LLC boosted its stake in shares of Magellan Midstream Partners L.P. by 0.7% in the first quarter. Sfmg LLC now owns 38,553 shares of the pipeline company’s stock valued at $2,965,000 after buying an additional 285 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Magellan Midstream Partners L.P. during the first quarter valued at about $847,000. 60.81% of the stock is currently owned by institutional investors and hedge funds.

Magellan Midstream Partners L.P. Company Profile

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

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