Magellan Midstream Partners (MMP) Stock Forecast, Price & News

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Magellan Midstream Partners in the last twelve months. There are currently 2 sell ratings, 7 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" MMP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MMP, but not buy additional shares or sell existing shares.
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11 equities research analysts have issued 12 month price targets for Magellan Midstream Partners' shares. Their MMP share price forecasts range from $49.00 to $67.50. On average, they predict the company's share price to reach $59.68 in the next year. This suggests that the stock has a possible downside of 2.2%.
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Magellan Midstream Partners' stock was trading at $50.21 at the start of the year. Since then, MMP shares have increased by 21.5% and is now trading at $61.03.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
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Magellan Midstream Partners, L.P. (NYSE:MMP) released its quarterly earnings results on Thursday, May, 4th. The pipeline company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The pipeline company had revenue of $869.70 million for the quarter, compared to the consensus estimate of $731.28 million. Magellan Midstream Partners had a trailing twelve-month return on equity of 57.78% and a net margin of 33.72%. The firm's quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share.

Magellan Midstream Partners announced a quarterly dividend on Thursday, April 27th. Stockholders of record on Monday, May 8th will be paid a dividend of $1.0475 per share on Monday, May 15th. This represents a $4.19 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Friday, May 5th.
Read our dividend analysis for MMP.

ETFs with the largest weight of Magellan Midstream Partners (NYSE:MMP) stock in their portfolio include Alerian MLP ETF (AMLP), Global X MLP ETF (MLPA), InfraCap MLP ETF (AMZA), First Trust North American Energy Infrastructure Fund (EMLP), VanEck Energy Income ETF (EINC), Global X MLP & Energy Infrastructure ETF (MLPX), FT Energy Income Partners Strategy ETF (EIPX) and Unusual Whales Subversive Republican Trading ETF (KRUZ).

Magellan Midstream Partners (NYSE:MMP) pays an annual dividend of $4.19 per share and currently has a dividend yield of 6.85%. MMP has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 20 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 76.04%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, MMP will have a dividend payout ratio of 80.58% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for MMP.

Magellan Midstream Partners issued an update on its second quarter 2023 earnings guidance on Thursday, May, 4th. The company provided EPS guidance of $1.10-$1.10 for the period, compared to the consensus EPS estimate of $1.13. The company issued revenue guidance of -.

27 employees have rated Magellan Midstream Partners Chief Executive Officer Michael N. Mears on Glassdoor.com. Michael N. Mears has an approval rating of 85% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Magellan Midstream Partners investors own include Enterprise Products Partners (EPD), AT&T (T), Verizon Communications (VZ), Johnson & Johnson (JNJ), Energy Transfer (ET), AbbVie (ABBV), Cisco Systems (CSCO), Pfizer (PFE), Exxon Mobil (XOM) and Chevron (CVX).

Magellan Midstream Partners trades on the New York Stock Exchange (NYSE) under the ticker symbol "MMP."

Magellan Midstream Partners' stock is owned by many different retail and institutional investors. Top institutional investors include Tortoise Capital Advisors L.L.C. (1.76%), Mirae Asset Global Investments Co. Ltd. (1.73%), UBS Group AG (1.55%), Clearbridge Investments LLC (1.44%), Chickasaw Capital Management LLC (1.39%) and Bank of America Corp DE (0.91%). Insiders that own company stock include Chansoo Joung, James R Montague, Jung Jennifer Fall, Lisa J Korner and Melanie A Little.
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Shares of MMP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MMP stock can currently be purchased for approximately $61.03.

Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $12.33 billion and generates $3.20 billion in revenue each year. The pipeline company earns $1.04 billion in net income (profit) each year or $5.51 on an earnings per share basis.

The company employs 1,655 workers across the globe.

Magellan Midstream Partners' mailing address is One Williams Center P.O. Box 22186, TULSA OK, 74121. The official website for the company is www.magellanlp.com. The pipeline company can be reached via phone at (918) 574-7000, via email at paula.farrell@magellanlp.com, or via fax at 302-655-5049.