Brokerages predict that Magellan Midstream Partners, L.P. (NYSE:MMP) will report $625.29 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Magellan Midstream Partners’ earnings, with the highest sales estimate coming in at $689.66 million and the lowest estimate coming in at $571.00 million. Magellan Midstream Partners posted sales of $642.07 million during the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Magellan Midstream Partners will report full year sales of $625.29 million for the current fiscal year, with estimates ranging from $2.18 billion to $2.64 billion. For the next year, analysts anticipate that the company will report sales of $2.55 billion per share, with estimates ranging from $2.27 billion to $2.74 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Magellan Midstream Partners.

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Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Thursday, February 1st. The pipeline company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Magellan Midstream Partners had a return on equity of 40.85% and a net margin of 34.67%. The business had revenue of $673.30 million for the quarter, compared to analyst estimates of $690.18 million. During the same quarter last year, the business earned $0.93 EPS. Magellan Midstream Partners’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Magellan Midstream Partners from $73.00 to $69.00 and set an “underweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 target price (down from $78.00) on shares of Magellan Midstream Partners in a research report on Tuesday, March 13th. UBS increased their target price on Magellan Midstream Partners from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Magellan Midstream Partners in a research report on Friday, February 2nd. Finally, Bank of America cut their target price on Magellan Midstream Partners from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Magellan Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $76.46.

In other Magellan Midstream Partners news, CEO Michael N. Mears sold 22,251 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $68.03, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael N. Mears sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $68.00, for a total value of $680,000.00. Following the completion of the transaction, the chief executive officer now directly owns 196,473 shares in the company, valued at $13,360,164. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC purchased a new position in Magellan Midstream Partners in the fourth quarter valued at about $107,000. Welch Group LLC purchased a new position in Magellan Midstream Partners in the fourth quarter valued at about $135,000. SWS Partners purchased a new position in Magellan Midstream Partners in the fourth quarter valued at about $152,000. CoreCommodity Management LLC purchased a new position in Magellan Midstream Partners in the fourth quarter valued at about $158,000. Finally, Captrust Financial Advisors purchased a new position in Magellan Midstream Partners in the fourth quarter valued at about $179,000. 62.38% of the stock is currently owned by institutional investors.

Magellan Midstream Partners stock traded up $1.24 during mid-day trading on Tuesday, hitting $62.49. The stock had a trading volume of 2,849,192 shares, compared to its average volume of 905,012. Magellan Midstream Partners has a 1-year low of $57.29 and a 1-year high of $78.48. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $14,259.91, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71.

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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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