Magellan Midstream Partners (MMP) Scheduled to Post Earnings on Thursday

Magellan Midstream Partners (NYSE:MMP) is scheduled to be announcing its earnings results before the market opens on Thursday, November 1st. Analysts expect the company to announce earnings of $1.01 per share for the quarter.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results on Thursday, August 2nd. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $644.10 million during the quarter, compared to the consensus estimate of $662.37 million. Magellan Midstream Partners had a return on equity of 42.90% and a net margin of 33.54%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, analysts expect Magellan Midstream Partners to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

MMP stock opened at $60.99 on Wednesday. The firm has a market cap of $14.16 billion, a PE ratio of 16.01, a PEG ratio of 2.47 and a beta of 0.79. Magellan Midstream Partners has a twelve month low of $54.82 and a twelve month high of $75.82. The company has a quick ratio of 0.31, a current ratio of 0.54 and a debt-to-equity ratio of 2.04.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.9775 per share. The ex-dividend date is Tuesday, November 6th. This represents a $3.91 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.96. Magellan Midstream Partners’s payout ratio is presently 100.52%.

In other Magellan Midstream Partners news, SVP Jeff R. Selvidge sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $68.70, for a total value of $377,850.00. Following the completion of the transaction, the senior vice president now directly owns 20,380 shares of the company’s stock, valued at $1,400,106. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael N. Mears sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $68.84, for a total value of $2,065,200.00. Following the completion of the transaction, the chief executive officer now directly owns 169,295 shares of the company’s stock, valued at $11,654,267.80. The disclosure for this sale can be found here. Insiders sold 40,500 shares of company stock valued at $2,786,500 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on MMP shares. Stifel Nicolaus boosted their target price on Magellan Midstream Partners from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. ValuEngine upgraded Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Zacks Investment Research upgraded Magellan Midstream Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Monday, July 16th. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Magellan Midstream Partners in a research report on Friday, July 13th. Finally, Wolfe Research assumed coverage on Magellan Midstream Partners in a report on Tuesday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Magellan Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $74.64.

Magellan Midstream Partners Company Profile

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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Earnings History for Magellan Midstream Partners (NYSE:MMP)

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