Magellan Midstream Partners (NYSE:MMP) is set to announce its earnings results before the market opens on Thursday, February 1st. Analysts expect the company to announce earnings of $1.10 per share for the quarter.
Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. Magellan Midstream Partners had a net margin of 34.50% and a return on equity of 40.99%. The firm had revenue of $551.80 million during the quarter, compared to the consensus estimate of $610.12 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect Magellan Midstream Partners to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Magellan Midstream Partners (NYSE:MMP) opened at $73.50 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. Magellan Midstream Partners has a 12 month low of $63.55 and a 12 month high of $81.77. The firm has a market cap of $16,760.00, a P/E ratio of 19.86, a PEG ratio of 2.40 and a beta of 0.77.
The business also recently declared a dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th will be paid a dividend of $0.92 per share. This represents a dividend yield of 0.0125170068027211%. The ex-dividend date is Monday, February 5th. This is an increase from Magellan Midstream Partners’s previous dividend of $0.84. Magellan Midstream Partners’s payout ratio is currently 97.84%.
Several analysts have recently weighed in on MMP shares. Mizuho reaffirmed a “sell” rating and set a $72.00 price target on shares of Magellan Midstream Partners in a research note on Friday, October 20th. BMO Capital Markets began coverage on shares of Magellan Midstream Partners in a research note on Monday, December 11th. They set a “buy” rating and a $80.00 price target for the company. Credit Suisse Group began coverage on shares of Magellan Midstream Partners in a report on Thursday, January 4th. They set an “underperform” rating on the stock. Bank of America began coverage on shares of Magellan Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and set a $81.00 price objective on shares of Magellan Midstream Partners in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $78.51.
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Magellan Midstream Partners Company Profile
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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