Brokerages expect that Magellan Midstream Partners, L.P. (NYSE:MMP) will announce $655.80 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Magellan Midstream Partners’ earnings, with the highest sales estimate coming in at $712.21 million and the lowest estimate coming in at $566.90 million. Magellan Midstream Partners reported sales of $740.68 million during the same quarter last year, which indicates a negative year over year growth rate of 11.5%. The firm is scheduled to issue its next earnings report on Thursday, February 4th.

According to Zacks, analysts expect that Magellan Midstream Partners will report full year sales of $2.49 billion for the current financial year, with estimates ranging from $2.40 billion to $2.58 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.57 billion, with estimates ranging from $2.38 billion to $2.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Magellan Midstream Partners.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Friday, October 30th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. Magellan Midstream Partners had a net margin of 35.61% and a return on equity of 37.91%. The firm had revenue of $598.26 million for the quarter, compared to analysts’ expectations of $570.15 million. During the same period in the previous year, the company posted $1.19 EPS. The company’s quarterly revenue was down 8.9% compared to the same quarter last year.

Several equities analysts have recently commented on MMP shares. Argus cut shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, November 9th. Citigroup lowered their price target on shares of Magellan Midstream Partners from $66.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Stifel Nicolaus boosted their price target on shares of Magellan Midstream Partners from $51.00 to $52.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Zacks Investment Research upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a report on Monday, October 5th. Finally, Raymond James decreased their price objective on shares of Magellan Midstream Partners from $51.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $49.58.

In related news, Director Chansoo Joung acquired 20,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was acquired at an average price of $35.32 per share, with a total value of $706,400.00. Following the completion of the transaction, the director now owns 40,280 shares of the company’s stock, valued at $1,422,689.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Magellan Midstream Partners by 1.5% during the second quarter. CWM LLC now owns 16,423 shares of the pipeline company’s stock valued at $709,000 after purchasing an additional 249 shares during the last quarter. Gilman Hill Asset Management LLC grew its stake in shares of Magellan Midstream Partners by 0.4% during the third quarter. Gilman Hill Asset Management LLC now owns 82,246 shares of the pipeline company’s stock valued at $2,813,000 after purchasing an additional 303 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Magellan Midstream Partners by 1.6% in the third quarter. Cutter & CO Brokerage Inc. now owns 21,431 shares of the pipeline company’s stock valued at $733,000 after buying an additional 346 shares during the period. Trustcore Financial Services LLC lifted its holdings in Magellan Midstream Partners by 28.8% in the second quarter. Trustcore Financial Services LLC now owns 1,739 shares of the pipeline company’s stock valued at $75,000 after buying an additional 389 shares during the period. Finally, Smithfield Trust Co. lifted its holdings in Magellan Midstream Partners by 26.7% in the third quarter. Smithfield Trust Co. now owns 1,900 shares of the pipeline company’s stock valued at $65,000 after buying an additional 400 shares during the period. 61.73% of the stock is owned by institutional investors and hedge funds.

NYSE MMP opened at $41.70 on Thursday. Magellan Midstream Partners has a twelve month low of $22.02 and a twelve month high of $65.34. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.39 and a current ratio of 0.64. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 10.32 and a beta of 0.97. The firm’s 50 day moving average price is $36.84 and its two-hundred day moving average price is $40.19.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Friday, November 6th were given a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date was Thursday, November 5th. Magellan Midstream Partners’s dividend payout ratio is currently 86.34%.

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

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