Magellan Midstream Partners (MMP) Earning Somewhat Positive Press Coverage, Accern Reports
Press coverage about Magellan Midstream Partners (NYSE:MMP) has trended somewhat positive on Saturday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Magellan Midstream Partners earned a news impact score of 0.15 on Accern’s scale. Accern also gave headlines about the pipeline company an impact score of 45.9474075976286 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- Intercontinental Exchange, Magellan Midstream launch auction for short-term crude storage capacity at Magellan East Houston Terminal (dailyenergyinsider.com)
- Magellan Midstream Partners LP (MMP) Files 10-K for the Fiscal Year Ended on December 31, 2017 (finance.yahoo.com)
- Analyzing Trends in Top Midstream Companies’ Price Targets (finance.yahoo.com)
- Magellan launches crude storage capacity auction (hydrocarbonengineering.com)
- Better Buy: Magellan Midstream Partners, L.P. vs. Kinder Morgan Inc (fool.com)
Magellan Midstream Partners (NYSE MMP) traded down $0.62 on Friday, reaching $66.64. 1,122,143 shares of the company traded hands, compared to its average volume of 899,915. The stock has a market capitalization of $15,200.00, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. Magellan Midstream Partners has a 52 week low of $63.55 and a 52 week high of $80.93. The company has a quick ratio of 0.29, a current ratio of 0.50 and a debt-to-equity ratio of 1.90.
The business also recently announced a dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a dividend of $0.92 per share. This represents a yield of 0.0125170068027211%. This is a boost from Magellan Midstream Partners’s previous dividend of $0.84. The ex-dividend date of this dividend was Monday, February 5th. Magellan Midstream Partners’s dividend payout ratio (DPR) is presently 96.59%.
A number of analysts have recently issued reports on MMP shares. Mizuho reissued a “sell” rating and issued a $72.00 price objective on shares of Magellan Midstream Partners in a research note on Friday, October 20th. BMO Capital Markets started coverage on shares of Magellan Midstream Partners in a research note on Monday, December 11th. They issued a “buy” rating and a $80.00 price objective for the company. Credit Suisse Group started coverage on shares of Magellan Midstream Partners in a research note on Thursday, January 4th. They issued an “underperform” rating for the company. Bank of America started coverage on shares of Magellan Midstream Partners in a research note on Tuesday, January 9th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $81.00 price objective on shares of Magellan Midstream Partners in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Magellan Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $77.36.
In related news, CEO Michael N. Mears sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $68.00, for a total transaction of $680,000.00. Following the completion of the transaction, the chief executive officer now directly owns 196,473 shares of the company’s stock, valued at $13,360,164. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael N. Mears sold 22,251 shares of the firm’s stock in a transaction on 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 directly owns 196,473 shares of the company’s stock, valued at $13,366,058.19. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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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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