Equities research analysts predict that Magellan Midstream Partners, L.P. (NYSE:MMP) will report $1.00 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Magellan Midstream Partners’ earnings. The lowest EPS estimate is $0.92 and the highest is $1.07. Magellan Midstream Partners reported earnings of $0.87 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.9%. The firm is scheduled to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Magellan Midstream Partners will report full-year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.89 to $4.15. For the next financial year, analysts expect that the firm will report earnings of $4.27 per share, with EPS estimates ranging from $4.03 to $4.46. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results on Thursday, August 2nd. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. Magellan Midstream Partners had a net margin of 33.54% and a return on equity of 42.90%. The company had revenue of $644.10 million for the quarter, compared to analysts’ expectations of $662.37 million. During the same quarter in the previous year, the company earned $0.91 EPS. Magellan Midstream Partners’s revenue for the quarter was up 4.0% on a year-over-year basis.

Several brokerages have commented on MMP. Zacks Investment Research cut shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Barclays boosted their price target on shares of Magellan Midstream Partners from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, August 6th. ValuEngine cut shares of Magellan Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Jefferies Financial Group cut shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Magellan Midstream Partners in a research note on Friday, July 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Magellan Midstream Partners has a consensus rating of “Hold” and a consensus target price of $74.92.

MMP opened at $70.27 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.31 and a current ratio of 0.54. Magellan Midstream Partners has a fifty-two week low of $54.82 and a fifty-two week high of $75.82. The firm has a market cap of $16.38 billion, a P/E ratio of 18.44, a PEG ratio of 2.86 and a beta of 0.80.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Tuesday, August 7th will be issued a $0.957 dividend. The ex-dividend date is Monday, August 6th. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.92. This represents a $3.83 dividend on an annualized basis and a dividend yield of 5.45%. Magellan Midstream Partners’s payout ratio is 100.52%.

Institutional investors have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Magellan Midstream Partners during the 2nd quarter valued at about $106,000. Legacy Advisors LLC grew its holdings in Magellan Midstream Partners by 87.3% during the 2nd quarter. Legacy Advisors LLC now owns 1,547 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 721 shares during the last quarter. Well Done LLC bought a new position in Magellan Midstream Partners during the 1st quarter valued at about $135,000. Lee Financial Co grew its holdings in Magellan Midstream Partners by 335.1% during the 1st quarter. Lee Financial Co now owns 2,802 shares of the pipeline company’s stock valued at $164,000 after purchasing an additional 2,158 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Magellan Midstream Partners during the 2nd quarter valued at about $165,000. Hedge funds and other institutional investors own 62.89% of the company’s stock.

About Magellan Midstream Partners

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

See Also: Price to Earnings Ratio (PE) Basics

Get a free copy of the Zacks research report on Magellan Midstream Partners (MMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Magellan Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.