Wall Street analysts expect Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings per share (EPS) of $1.09 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Magellan Midstream Partners’ earnings. The lowest EPS estimate is $0.90 and the highest is $1.19. Magellan Midstream Partners reported earnings of $1.04 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The firm is expected to report its next earnings results on Thursday, February 1st.

On average, analysts expect that Magellan Midstream Partners will report full year earnings of $3.88 per share for the current financial year, with EPS estimates ranging from $3.65 to $3.96. For the next fiscal year, analysts forecast that the company will post earnings of $4.08 per share, with EPS estimates ranging from $3.72 to $4.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, beating the 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 business had revenue of $551.80 million for the quarter, compared to analysts’ expectations of $610.12 million. During the same period in the previous year, the company posted $0.91 EPS. Magellan Midstream Partners’s revenue was down 3.7% on a year-over-year basis.

Several equities analysts have recently commented on MMP shares. BidaskClub cut shares of Magellan Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Jefferies Group reaffirmed a “hold” rating and issued a $70.00 price objective (down previously from $73.00) on shares of Magellan Midstream Partners in a research note on Sunday, September 3rd. Citigroup raised shares of Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, September 21st. Finally, Mizuho reaffirmed a “sell” rating and issued a $72.00 price objective on shares of Magellan Midstream Partners in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $79.04.

In related news, insider Jeff R. Selvidge sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $70.64, for a total value of $353,200.00. Following the sale, the insider now owns 19,653 shares of the company’s stock, valued at $1,388,287.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC bought a new stake in Magellan Midstream Partners during the second quarter worth about $148,000. Acrospire Investment Management LLC grew its stake in Magellan Midstream Partners by 340.0% during the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock worth $157,000 after buying an additional 1,700 shares during the last quarter. Glenview State Bank Trust DEPT. bought a new stake in Magellan Midstream Partners during the third quarter worth about $223,000. Doliver Capital Advisors LP bought a new stake in Magellan Midstream Partners during the second quarter worth about $234,000. Finally, Honkamp Krueger Financial Services Inc. lifted its position in shares of Magellan Midstream Partners by 7.3% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 3,309 shares of the pipeline company’s stock worth $236,000 after purchasing an additional 224 shares in the last quarter. 62.43% of the stock is currently owned by institutional investors and hedge funds.

Magellan Midstream Partners (MMP) traded up $1.08 during trading on Wednesday, hitting $68.08. 1,465,596 shares of the stock traded hands, compared to its average volume of 842,548. 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 fifty-two week low of $63.55 and a fifty-two week high of $81.77. The stock has a market cap of $15,277.65, a PE ratio of 17.58, a P/E/G ratio of 2.27 and a beta of 0.77.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Thursday, November 2nd were paid a $0.905 dividend. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $3.62 dividend on an annualized basis and a yield of 5.32%. This is a boost from Magellan Midstream Partners’s previous quarterly dividend of $0.89. Magellan Midstream Partners’s payout ratio is presently 97.84%.

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

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