Magellan Midstream Partners L.P. (NYSE:MMP) has earned a consensus recommendation of “Hold” from the seventeen analysts that are currently covering the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $76.77.

Several research firms have weighed in on MMP. Credit Suisse Group AG set a $74.00 target price on shares of Magellan Midstream Partners L.P. and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Morgan Stanley lowered shares of Magellan Midstream Partners L.P. from an “equal” rating to an “underweight” rating and lowered their target price for the company from $73.00 to $69.00 in a research note on Thursday, August 18th. Zacks Investment Research upgraded shares of Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Wunderlich reiterated a “hold” rating and set a $71.00 target price on shares of Magellan Midstream Partners L.P. in a research note on Friday, August 5th. Finally, Mizuho began coverage on shares of Magellan Midstream Partners L.P. in a research note on Thursday, September 29th. They set a “neutral” rating and a $73.00 target price for the company.

A number of large investors have recently modified their holdings of the stock. Enterprise Financial Services Corp increased its stake in shares of Magellan Midstream Partners L.P. by 10.1% in the third quarter. Enterprise Financial Services Corp now owns 1,450 shares of the company’s stock worth $103,000 after buying an additional 133 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Magellan Midstream Partners L.P. by 13.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,406 shares of the company’s stock worth $107,000 after buying an additional 165 shares during the last quarter. Bellwether Investment Group LLC acquired a new stake in shares of Magellan Midstream Partners L.P. during the second quarter worth $109,000. Carroll Financial Associates Inc. increased its stake in shares of Magellan Midstream Partners L.P. by 2.6% in the second quarter. Carroll Financial Associates Inc. now owns 1,994 shares of the company’s stock worth $151,000 after buying an additional 50 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Magellan Midstream Partners L.P. by 26.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,096 shares of the company’s stock worth $159,000 after buying an additional 432 shares during the last quarter. 61.88% of the stock is owned by institutional investors.

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) opened at 65.17 on Wednesday. Magellan Midstream Partners L.P. has a 52 week low of $54.51 and a 52 week high of $77.45. The firm has a market cap of $14.84 billion, a PE ratio of 18.67 and a beta of 0.76. The company has a 50 day moving average of $69.07 and a 200 day moving average of $71.10.

Magellan Midstream Partners L.P. (NYSE:MMP) last released its earnings results on Wednesday, November 2nd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Magellan Midstream Partners L.P. had a net margin of 36.82% and a return on equity of 38.77%. The firm earned $586.67 million during the quarter, compared to analyst estimates of $291.99 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Magellan Midstream Partners L.P. will post $3.55 EPS for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be issued a $0.8375 dividend. This is an increase from Magellan Midstream Partners L.P.’s previous dividend of $0.70. The ex-dividend date of this dividend is Thursday, October 27th. Magellan Midstream Partners L.P.’s dividend payout ratio is presently 95.99%.

Magellan Midstream Partners L.P. Company Profile

5 Day Chart for NYSE:MMP

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