Magellan Midstream Partners, L.P. (NYSE:MMP) announced a dividend on Thursday, April 20th. Investors of record on Monday, May 1st will be given a dividend of 0.8725 per share by the pipeline company on Monday, May 15th. The ex-dividend date is Thursday, April 27th. This is a positive change from Magellan Midstream Partners, L.P.’s previous dividend of $0.84.

Magellan Midstream Partners, L.P. has raised its dividend by an average of 15.7% annually over the last three years and has raised its dividend every year for the last 7 years. Magellan Midstream Partners, L.P. has a payout ratio of 89.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Magellan Midstream Partners, L.P. to earn $4.12 per share next year, which means the company should continue to be able to cover its $3.42 annual dividend with an expected future payout ratio of 83.0%.

Magellan Midstream Partners, L.P. (NYSE:MMP) traded down 0.28% during midday trading on Friday, reaching $75.70. The company had a trading volume of 231,872 shares. Magellan Midstream Partners, L.P. has a 12 month low of $64.25 and a 12 month high of $81.77. The firm has a 50-day moving average of $77.04 and a 200-day moving average of $74.07. The stock has a market cap of $17.26 billion, a P/E ratio of 21.51 and a beta of 0.82.



Magellan Midstream Partners, L.P. (NYSE:MMP) last posted its quarterly earnings data on Thursday, February 2nd. The pipeline company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. The business earned $614.92 million during the quarter, compared to the consensus estimate of $610.41 million. Magellan Midstream Partners, L.P. had a return on equity of 40.66% and a net margin of 36.40%. Magellan Midstream Partners, L.P.’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. On average, equities analysts expect that Magellan Midstream Partners, L.P. will post $3.88 EPS for the current fiscal year.

Dividend History for Magellan Midstream Partners, L.P. (NYSE:MMP)

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In other news, CEO Michael N. Mears sold 50,000 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $78.74, for a total transaction of $3,937,000.00. Following the transaction, the chief executive officer now owns 184,440 shares of the company’s stock, valued at approximately $14,522,805.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa J. Korner sold 10,000 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $78.67, for a total transaction of $786,700.00. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

A number of analysts recently weighed in on MMP shares. Deutsche Bank AG started coverage on Magellan Midstream Partners, L.P. in a report on Tuesday, January 3rd. They issued a “buy” rating and a $86.00 price objective for the company. Royal Bank of Canada restated a “buy” rating and issued a $84.00 price objective on shares of Magellan Midstream Partners, L.P. in a report on Friday, January 6th. Vetr upgraded Magellan Midstream Partners, L.P. from a “hold” rating to a “buy” rating and set a $78.61 price objective for the company in a report on Tuesday, January 10th. Wells Fargo & Co downgraded Magellan Midstream Partners, L.P. from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 11th. Finally, Raymond James Financial, Inc. restated an “outperform” rating and issued a $80.00 price objective (up from $78.00) on shares of Magellan Midstream Partners, L.P. in a report on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $78.85.

Magellan Midstream Partners, L.P. Company Profile

5 Day Chart for NYSE:MMP

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