Magellan Midstream Partners, L.P. (NYSE:MMP) – Investment analysts at US Capital Advisors dropped their Q1 2018 EPS estimates for shares of Magellan Midstream Partners in a report released on Thursday. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.98 per share for the quarter, down from their prior estimate of $1.01. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q3 2018 earnings at $1.02 EPS.

Other research analysts have also recently issued reports about the company. Bank of America began coverage on Magellan Midstream Partners in a report on Tuesday. They issued a “buy” rating on the stock. Credit Suisse Group began coverage on Magellan Midstream Partners in a report on Thursday, January 4th. They issued an “underperform” rating on the stock. Citigroup raised Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Thursday, September 21st. BMO Capital Markets began coverage on Magellan Midstream Partners in a report on Monday, December 11th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Mizuho reissued a “sell” rating and issued a $72.00 price target on shares of Magellan Midstream Partners in a report on Friday, October 20th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $77.97.

Magellan Midstream Partners (NYSE MMP) traded up $0.66 during midday trading on Monday, reaching $73.02. The company had a trading volume of 163,943 shares, compared to its average volume of 922,279. The company has a current ratio of 0.50, a quick ratio of 0.29 and a debt-to-equity ratio of 1.90. Magellan Midstream Partners has a one year low of $63.55 and a one year high of $81.77. The stock has a market cap of $16,650.00, a PE ratio of 19.74, a PEG ratio of 2.36 and a beta of 0.77.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, topping 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 company had revenue of $551.80 million for the quarter, compared to analysts’ expectations of $610.12 million. During the same period in the previous year, the firm earned $0.91 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in Magellan Midstream Partners by 5.2% in the 3rd quarter. Alps Advisors Inc. now owns 15,065,633 shares of the pipeline company’s stock worth $1,070,564,000 after acquiring an additional 745,755 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake 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 acquiring an additional 717,317 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Magellan Midstream Partners by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,316,528 shares of the pipeline company’s stock worth $304,574,000 after acquiring an additional 495,394 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Magellan Midstream Partners by 5.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,163,725 shares of the pipeline company’s stock worth $224,798,000 after acquiring an additional 170,488 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its stake 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 acquiring an additional 953,808 shares during the last quarter. 62.03% of the stock is currently owned by institutional investors and hedge funds.

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Magellan Midstream Partners Company Profile

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