Magellan Midstream Partners (NYSE:MMP)‘s stock had its “hold” rating reiterated by equities researchers at Mizuho in a research report issued on Wednesday, Stock Target Advisor reports. They currently have a $68.00 price objective on the pipeline company’s stock. Mizuho’s price objective suggests a potential upside of 6.75% from the company’s current price.

Several other analysts also recently weighed in on MMP. Bank of America downgraded Magellan Midstream Partners from a “neutral” rating to an “underperform” rating in a research note on Monday, November 4th. Stifel Nicolaus set a $70.00 target price on Magellan Midstream Partners and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays raised shares of Magellan Midstream Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $69.00 in a research report on Tuesday, January 14th. ValuEngine raised shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Co raised shares of Magellan Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $68.00.

Shares of MMP stock traded down $1.00 on Wednesday, reaching $63.70. 27,374 shares of the stock were exchanged, compared to its average volume of 1,051,296. The stock has a market cap of $14.65 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 2.30 and a beta of 0.71. The company has a quick ratio of 0.53, a current ratio of 0.83 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average of $62.73 and a two-hundred day moving average of $64.05. Magellan Midstream Partners has a 1-year low of $56.75 and a 1-year high of $67.75.

Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. Magellan Midstream Partners had a return on equity of 38.78% and a net margin of 36.75%. The business had revenue of $656.60 million during the quarter, compared to the consensus estimate of $673.05 million. During the same period in the prior year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Magellan Midstream Partners will post 4.71 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Magellan Midstream Partners during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC purchased a new position in Magellan Midstream Partners during the third quarter worth approximately $34,000. Manchester Financial Inc. acquired a new stake in Magellan Midstream Partners during the fourth quarter worth $39,000. Mechanics Bank Trust Department acquired a new stake in Magellan Midstream Partners during the third quarter worth $40,000. Finally, Arlington Partners LLC acquired a new stake in Magellan Midstream Partners during the fourth quarter worth $44,000. 63.98% of the stock is currently owned by hedge funds and other institutional investors.

Magellan Midstream Partners Company Profile

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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Analyst Recommendations for Magellan Midstream Partners (NYSE:MMP)

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