$1.00 EPS Expected for Magellan Midstream Partners, L.P. (MMP) This Quarter

Equities research analysts predict that Magellan Midstream Partners, L.P. (NYSE:MMP) will announce earnings per share (EPS) of $1.00 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Magellan Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $0.90. Magellan Midstream Partners reported earnings per share of $0.98 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The company is scheduled to report its next earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Magellan Midstream Partners will report full-year earnings of $4.08 per share for the current fiscal year, with EPS estimates ranging from $3.71 to $4.27. For the next year, analysts expect that the business will report earnings of $4.32 per share, with EPS estimates ranging from $3.96 to $4.57. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Thursday, February 1st. The pipeline company reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.08). Magellan Midstream Partners had a return on equity of 40.85% and a net margin of 34.67%. The firm had revenue of $673.30 million during the quarter, compared to analysts’ expectations of $690.18 million. During the same period last year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year.

A number of research firms recently weighed in on MMP. Bank of America reduced their price objective on shares of Magellan Midstream Partners from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday. Credit Suisse Group started coverage on shares of Magellan Midstream Partners in a research note on Thursday, January 4th. They issued an “underperform” rating on the stock. Barclays dropped their target price on shares of Magellan Midstream Partners from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday. Stifel Nicolaus restated a “hold” rating and issued a $69.00 target price on shares of Magellan Midstream Partners in a research note on Friday. Finally, Mizuho restated a “sell” rating and issued a $72.00 target price on shares of Magellan Midstream Partners in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Magellan Midstream Partners has a consensus rating of “Hold” and a consensus price target of $77.36.

Hedge funds have recently modified their holdings of the business. Balyasny Asset Management LLC bought a new position in shares of Magellan Midstream Partners during the second quarter valued at approximately $7,097,000. Macquarie Group Ltd. boosted its stake in shares of Magellan Midstream Partners by 2.5% during the second quarter. Macquarie Group Ltd. now owns 287,992 shares of the pipeline company’s stock valued at $20,525,000 after purchasing an additional 7,000 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Magellan Midstream Partners during the second quarter valued at approximately $1,728,000. CNH Partners LLC boosted its stake in shares of Magellan Midstream Partners by 1.1% during the second quarter. CNH Partners LLC now owns 9,057 shares of the pipeline company’s stock valued at $645,000 after purchasing an additional 100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Magellan Midstream Partners by 55.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,050 shares of the pipeline company’s stock valued at $787,000 after purchasing an additional 3,959 shares in the last quarter. Institutional investors and hedge funds own 61.97% of the company’s stock.

Magellan Midstream Partners (MMP) traded down $2.11 during trading on Monday, reaching $68.39. 1,289,228 shares of the company were exchanged, compared to its average volume of 846,125. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.50 and a quick ratio of 0.29. Magellan Midstream Partners has a 12 month low of $63.55 and a 12 month high of $81.77. The stock has a market cap of $15,590.00, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.28 and a beta of 0.61.

The business also recently announced a dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th will be paid a $0.92 dividend. This is an increase from Magellan Midstream Partners’s previous dividend of $0.84. This represents a yield of 0.0125170068027211%. The ex-dividend date is Monday, February 5th. Magellan Midstream Partners’s dividend payout ratio is currently 95.01%.

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About Magellan Midstream Partners

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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