Brokerages expect Magellan Midstream Partners L.P. (NYSE:MMP) to announce earnings of $0.97 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Magellan Midstream Partners L.P.’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $0.99. Magellan Midstream Partners L.P. reported earnings of $0.91 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Magellan Midstream Partners L.P. will report full-year earnings of $3.90 per share for the current financial year, with EPS estimates ranging from $3.80 to $4.04. For the next year, analysts forecast that the company will post earnings of $4.10 per share, with EPS estimates ranging from $3.91 to $4.46. Zacks’ EPS averages are an average based on a survey of analysts that cover Magellan Midstream Partners L.P..

Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million for the quarter, compared to analyst estimates of $561.70 million. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share.

Several analysts have commented on MMP shares. Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Tuesday, June 20th. Jefferies Group LLC started coverage on shares of Magellan Midstream Partners L.P. in a research note on Thursday, June 22nd. They issued a “hold” rating and a $73.00 price objective for the company. BidaskClub upgraded shares of Magellan Midstream Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Mizuho cut shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and cut their target price for the company from $74.00 to $72.00 in a research note on Monday, July 10th. Finally, Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Magellan Midstream Partners L.P. has a consensus rating of “Hold” and an average target price of $79.19.

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Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its position in Magellan Midstream Partners L.P. by 5.7% during the 2nd quarter. Private Trust Co. NA now owns 18,792 shares of the pipeline company’s stock valued at $1,339,000 after purchasing an additional 1,009 shares during the period. Wedbush Securities Inc. raised its position in shares of Magellan Midstream Partners L.P. by 0.4% in the 1st quarter. Wedbush Securities Inc. now owns 10,262 shares of the pipeline company’s stock valued at $789,000 after acquiring an additional 39 shares during the period. Brighton Jones LLC acquired a new stake in shares of Magellan Midstream Partners L.P. in the 1st quarter valued at approximately $426,000. Heritage Wealth Advisors acquired a new stake in shares of Magellan Midstream Partners L.P. in the 1st quarter valued at approximately $1,963,000. Finally, New England Private Wealth Advisors LLC raised its position in shares of Magellan Midstream Partners L.P. by 11.4% in the 2nd quarter. New England Private Wealth Advisors LLC now owns 8,358 shares of the pipeline company’s stock valued at $596,000 after acquiring an additional 858 shares during the period. Institutional investors own 60.80% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (MMP) opened at 70.78 on Thursday. Magellan Midstream Partners L.P. has a 12 month low of $63.92 and a 12 month high of $81.77. The company’s 50-day moving average is $67.79 and its 200-day moving average is $72.37. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of 19.19 and a beta of 0.80.

Magellan Midstream Partners L.P. Company Profile

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

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