Analysts Set Expectations for Magellan Midstream Partners’ Q2 2018 Earnings (MMP)

Magellan Midstream Partners (NYSE:MMP) – Investment analysts at US Capital Advisors boosted their Q2 2018 EPS estimates for shares of Magellan Midstream Partners in a research note issued to investors on Tuesday, April 17th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $1.05 per share for the quarter, up from their previous estimate of $1.02. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q3 2018 earnings at $1.07 EPS and FY2020 earnings at $4.95 EPS.

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Other equities analysts have also recently issued research reports about the stock. UBS upped their price target on shares of Magellan Midstream Partners from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Bank of America initiated coverage on shares of Magellan Midstream Partners in a research note on Tuesday, January 9th. They issued a “buy” rating on the stock. Jefferies Group upgraded shares of Magellan Midstream Partners from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Thursday, April 5th. Barclays dropped their price target 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, February 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $81.00 price target on shares of Magellan Midstream Partners in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Magellan Midstream Partners presently has an average rating of “Hold” and a consensus target price of $75.23.

Shares of Magellan Midstream Partners stock opened at $66.12 on Wednesday. The stock has a market capitalization of $14,730.00, a P/E ratio of 17.35, a PEG ratio of 2.59 and a beta of 0.72. Magellan Midstream Partners has a 1 year low of $54.82 and a 1 year high of $77.01. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 2.01.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results 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). The business had revenue of $673.30 million during the quarter, compared to analysts’ expectations of $690.18 million. Magellan Midstream Partners had a return on equity of 40.85% and a net margin of 34.67%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 earnings per share.

Institutional investors and hedge funds have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC bought a new position in Magellan Midstream Partners during the 4th quarter valued at about $107,000. Welch Group LLC bought a new position in Magellan Midstream Partners during the 4th quarter valued at about $135,000. SWS Partners bought a new position in Magellan Midstream Partners during the 4th quarter valued at about $152,000. CoreCommodity Management LLC bought a new position in Magellan Midstream Partners during the 4th quarter valued at about $158,000. Finally, Captrust Financial Advisors bought a new position in Magellan Midstream Partners during the 4th quarter valued at about $179,000. Institutional investors and hedge funds own 62.33% of the company’s stock.

In other Magellan Midstream Partners news, CEO Michael N. Mears sold 22,251 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $68.03, for a total transaction of $1,513,735.53. Following the transaction, the chief executive officer now owns 196,473 shares in the company, valued at approximately $13,366,058.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael N. Mears sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $68.00, for a total transaction of $680,000.00. Following the transaction, the chief executive officer now owns 196,473 shares in the company, valued at approximately $13,360,164. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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About Magellan Midstream Partners

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.

Earnings History and Estimates for Magellan Midstream Partners (NYSE:MMP)

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