Magellan Midstream Partners L.P. (MMP) Receives Daily Media Sentiment Rating of 0.13
News stories about Magellan Midstream Partners L.P. (NYSE:MMP) have been trending somewhat positive on Tuesday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Magellan Midstream Partners L.P. earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned media headlines about the pipeline company an impact score of 46.4469384727496 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Trading Signals in Review For Magellan Midstream Partners LP (MMP) – Bulletin News (orobulletin.com)
- You Won’t Believe the Size of Magellan Midstream Partners LP ‘s Pipeline System – Madison.com (host.madison.com)
- $568.90 Million in Sales Expected for Magellan Midstream Partners L.P. (NYSE:MMP) This Quarter (americanbankingnews.com)
- Kayne Anderson Capital Advisors Lp Adjusts Its Stake in Magellan Midstream Partners LP (MMP) – Modern Readers (modernreaders.com)
Magellan Midstream Partners L.P. (NYSE MMP) traded down 1.64% during mid-day trading on Tuesday, reaching $65.90. The company had a trading volume of 883,940 shares. The firm has a 50-day moving average of $69.72 and a 200 day moving average of $74.11. Magellan Midstream Partners L.P. has a 1-year low of $64.25 and a 1-year high of $81.77. The company has a market capitalization of $15.03 billion, a PE ratio of 17.87 and a beta of 0.80.
Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million during the quarter, compared to analysts’ expectations of $561.70 million. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, analysts predict that Magellan Midstream Partners L.P. will post $3.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.40%. The ex-dividend date was Thursday, July 27th. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is currently 96.74%.
Several equities research analysts recently weighed in on the company. Stifel Nicolaus reissued a “hold” rating and issued a $77.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Monday, July 24th. Barclays PLC lowered Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $88.00 to $77.00 in a report on Tuesday, July 18th. BidaskClub lowered Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.10.
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In other news, insider Douglas J. May sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $75.00, for a total value of $600,000.00. Following the completion of the sale, the insider now directly owns 27,599 shares of the company’s stock, valued at approximately $2,069,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.
About Magellan Midstream Partners L.P.
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