$1.01 EPS Expected for Magellan Midstream Partners (MMP) This Quarter

Analysts predict that Magellan Midstream Partners (NYSE:MMP) will report $1.01 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Magellan Midstream Partners’ earnings. The highest EPS estimate is $1.19 and the lowest is $0.94. Magellan Midstream Partners reported earnings of $0.98 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Magellan Midstream Partners will report full-year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.71 to $4.27. For the next fiscal year, analysts expect that the company will post earnings of $4.22 per share, with EPS estimates ranging from $3.89 to $4.56. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Magellan Midstream Partners.

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Magellan Midstream Partners (NYSE:MMP) last posted its earnings results on Thursday, February 1st. The pipeline company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $690.18 million. During the same period in the previous year, the company posted $0.93 earnings per share. Magellan Midstream Partners’s revenue for the quarter was up 9.5% compared to the same quarter last year.

A number of research firms recently issued reports on MMP. Royal Bank of Canada reissued a “hold” rating and set a $81.00 target price on shares of Magellan Midstream Partners in a research note on Tuesday, January 16th. Credit Suisse Group began coverage on Magellan Midstream Partners in a research note on Thursday, January 4th. They set an “underperform” rating for the company. Bank of America began coverage on Magellan Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating for the company. Barclays lowered their target price on Magellan Midstream Partners from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $69.00 target price on shares of Magellan Midstream Partners in a research note on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.00.

In other news, CEO Michael N. Mears sold 22,251 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 196,473 shares of the company’s stock, valued at approximately $13,366,058.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael N. Mears sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $68.00, for a total transaction of $680,000.00. Following the transaction, the chief executive officer now directly owns 196,473 shares of the company’s stock, valued at $13,360,164. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of MMP. Castleark Management LLC grew its stake in shares of Magellan Midstream Partners by 13.9% in the fourth quarter. Castleark Management LLC now owns 120,992 shares of the pipeline company’s stock valued at $8,583,000 after buying an additional 14,800 shares in the last quarter. Cypress Wealth Advisors LLC bought a new position in shares of Magellan Midstream Partners in the fourth quarter valued at $1,950,000. Bank of New York Mellon Corp grew its stake in shares of Magellan Midstream Partners by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 97,468 shares of the pipeline company’s stock valued at $6,926,000 after buying an additional 3,981 shares in the last quarter. Rothschild Investment Corp IL grew its stake in shares of Magellan Midstream Partners by 72.4% in the fourth quarter. Rothschild Investment Corp IL now owns 37,500 shares of the pipeline company’s stock valued at $2,660,000 after buying an additional 15,750 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Magellan Midstream Partners by 3.8% in the third quarter. California Public Employees Retirement System now owns 519,267 shares of the pipeline company’s stock valued at $36,899,000 after buying an additional 19,167 shares in the last quarter. 62.21% of the stock is owned by institutional investors.

NYSE MMP traded down $0.14 during trading hours on Wednesday, reaching $58.21. 80,561 shares of the company’s stock were exchanged, compared to its average volume of 1,066,303. Magellan Midstream Partners has a one year low of $54.82 and a one year high of $78.00. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market cap of $13,315.19, a price-to-earnings ratio of 15.31, a PEG ratio of 2.35 and a beta of 0.72.

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Magellan Midstream Partners Company Profile

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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