Magellan Midstream Partners (NYSE:MMP) is set to post its quarterly earnings results before the market opens on Thursday, July 29th. Analysts expect Magellan Midstream Partners to post earnings of $0.94 per share for the quarter. Magellan Midstream Partners has set its FY 2021 guidance at 4.200-4.200 EPS and its Q2 2021 guidance at 1.150-1.150 EPS.Individual that wish to register for the company's earnings conference call can do so using this link.
Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, April 29th. The pipeline company reported $1.09 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.87 by $0.22. The firm had revenue of $661.00 million during the quarter, compared to analyst estimates of $661.52 million. Magellan Midstream Partners had a return on equity of 34.70% and a net margin of 32.55%. The business's revenue for the quarter was down 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, analysts expect Magellan Midstream Partners to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
MMP opened at $46.38 on Thursday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 13.89 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.47 and a debt-to-equity ratio of 2.18. Magellan Midstream Partners has a 12 month low of $32.61 and a 12 month high of $53.85. The stock has a fifty day moving average of $49.53.
In other Magellan Midstream Partners news, SVP Lisa J. Korner sold 10,000 shares of the business's stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $47.62, for a total transaction of $476,200.00. Following the sale, the senior vice president now owns 82,953 shares in the company, valued at approximately $3,950,221.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.
Several research firms have recently commented on MMP. TheStreet raised Magellan Midstream Partners from a "c+" rating to a "b" rating in a research report on Thursday, June 10th. Wells Fargo & Company boosted their price target on Magellan Midstream Partners from $51.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 24th. Raymond James boosted their price target on Magellan Midstream Partners from $47.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, April 15th. Royal Bank of Canada boosted their target price on Magellan Midstream Partners from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 4th. Finally, Morgan Stanley boosted their target price on Magellan Midstream Partners from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, June 18th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Magellan Midstream Partners has an average rating of "Hold" and an average price target of $48.33.
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 and Crude Oil segments. It operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to refiners, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.
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