Analysts forecast that Magellan Midstream Partners, L.P. (NYSE:MMP) will report $1.00 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Magellan Midstream Partners’ earnings. The highest EPS estimate is $1.06 and the lowest is $0.92. Magellan Midstream Partners posted earnings per share of $0.87 in the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The business is expected to issue its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Magellan Midstream Partners will report full year earnings of $4.04 per share for the current financial year, with EPS estimates ranging from $3.89 to $4.15. For the next year, analysts expect that the firm will post earnings of $4.25 per share, with EPS estimates ranging from $4.03 to $4.45. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Magellan Midstream Partners.

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

A number of analysts have weighed in on the company. Zacks Investment Research cut Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Barclays boosted their price objective on Magellan Midstream Partners from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Monday, August 6th. ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Jefferies Financial Group cut Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Magellan Midstream Partners in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $74.92.

A number of institutional investors and hedge funds have recently modified their holdings of MMP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Magellan Midstream Partners in the 2nd quarter valued at approximately $106,000. Legacy Advisors LLC grew its stake in shares of Magellan Midstream Partners by 87.3% in 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 period. Well Done LLC bought a new stake in shares of Magellan Midstream Partners in the 1st quarter valued at approximately $135,000. Lee Financial Co grew its stake in shares of Magellan Midstream Partners by 335.1% in 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 period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Magellan Midstream Partners in the 2nd quarter valued at approximately $165,000. Hedge funds and other institutional investors own 63.96% of the company’s stock.

Shares of NYSE:MMP opened at $68.64 on Friday. Magellan Midstream Partners has a fifty-two week low of $54.82 and a fifty-two week high of $75.82. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 2.76 and a beta of 0.80. The company has a quick ratio of 0.31, a current ratio of 0.54 and a debt-to-equity ratio of 2.04.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were given a dividend of $0.957 per share. This represents a $3.83 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend was Monday, August 6th. This is a boost from Magellan Midstream Partners’s previous quarterly dividend of $0.92. Magellan Midstream Partners’s payout ratio is currently 100.52%.

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.

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