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

Notice: Trading of Magellan Midstream Partners halted at 08:20 AM EST due to "Merger Effective".
$69.00
0.00 (0.00%)
(As of 09/25/2023 ET)
Compare
Today's Range
$69.00
$69.00
50-Day Range
$63.55
$69.19
52-Week Range
$45.52
$69.90
Volume
N/A
Average Volume
1.42 million shs
Market Capitalization
$13.94 billion
P/E Ratio
13.75
Dividend Yield
6.07%
Price Target
$60.70

Magellan Midstream Partners MarketRank™ Forecast

Analyst Rating
Reduce
1.82 Rating Score
Upside/​Downside
12.0% Downside
$60.70 Price Target
Short Interest
Bearish
3.73% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.89mentions of Magellan Midstream Partners in the last 14 days
Based on 17 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
3.13%
From $5.12 to $5.28 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.69 out of 5 stars

Oils/Energy Sector

212th out of 247 stocks

Pipelines, Except Natural Gas Industry

10th out of 11 stocks


MMP stock logo

About Magellan Midstream Partners (NYSE:MMP) Stock

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 refined products pipeline that transports gasoline, diesel and 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. It also provides pipeline capacity and tank storage services, as well as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers. In addition, the company owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide design, installation, construction, testing, operation, replacement, and management of assets to refiners, marketers, and traders. Magellan Midstream Partners, L.P. was incorporated in 2000 and is headquartered in Tulsa, Oklahoma.

MMP Price History

MMP Stock News Headlines

Enterprise Products: 7.33% Yield and 26-Years of Dividend Growth (MMP)
Enterprise Products Partners' 7.33% yield and reliable history of dividend increases make it worthy of consideration for investors seeking stable income.
Experts: "NVIDIA Bubble" Could Affect Entire Market
Several major analysts are warning that NVIDIA and other tech giants may have gotten “too big to succeed”.
Experts: "NVIDIA Bubble" Could Affect Entire Market
Several major analysts are warning that NVIDIA and other tech giants may have gotten “too big to succeed”.
Magellan Midstream (MMP) Receives a Rating Update from a Top Analyst
See More Headlines
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MMP Company Calendar

Last Earnings
8/03/2023
Ex-Dividend for 8/14 Dividend
8/04/2023
Dividend Payable
8/14/2023
Ex-Dividend for 9/25 Dividend
9/20/2023
Today
9/25/2023
Dividend Payable
9/25/2023
Next Earnings (Estimated)
10/26/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Pipelines, except natural gas
Sub-Industry
N/A
Employees
1,655
Year Founded
2000

Price Target and Rating

Average Stock Price Forecast
$60.70
High Stock Price Forecast
$69.00
Low Stock Price Forecast
$49.00
Forecasted Upside/Downside
-12.0%
Consensus Rating
Reduce
Rating Score (0-4)
1.82
Research Coverage
11 Analysts

Profitability

Net Income
$1.04 billion
Pretax Margin
29.62%

Debt

Sales & Book Value

Annual Sales
$3.20 billion
Cash Flow
$6.08 per share
Book Value
$8.22 per share

Miscellaneous

Free Float
201,449,000
Market Cap
$13.94 billion
Optionable
Optionable
Beta
0.90

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Key Executives

  • Mr. Aaron L. Milford (Age 49)
    Pres, CEO & Director of Magellan GP LLC
    Comp: $787.58k
  • Mr. Jeffrey L. Holman (Age 51)
    Principal Accounting Officer, Exec. VP, CFO & Treasurer of Magellan GP LLC
    Comp: $583.5k
  • Mr. Douglas J. May J.D. (Age 52)
    SVP, Gen. Counsel, Compliance & Ethics Officer and Assistant Sec. of Magellan GP LLC
    Comp: $486.25k
  • Mr. Michael J. Aaronson (Age 48)
    Exec. VP & Chief Commercial Officer of Magellan GP LLC
    Comp: $482.52k
  • Mr. James R. Hoskin
    Sr. VP of Operations
  • Mr. Michael C. Pearson (Age 60)
    Sr. VP of Technical Services - Magellan GP LLC
  • Ms. Lisa J. KornerMs. Lisa J. Korner (Age 62)
    Sr. VP of HR & Admin.
  • Ms. Paula Farrell
    Associate VP of Investor Relations - Magellan GP LLC
  • Mr. Mark B. Roles (Age 48)
    Sr. VP of Commercial & Refined Products - Magellan GP LLC
  • Mr. Kyle T. Krshka (Age 38)
    Sr. VP of Commercial – Crude Oil of Magellan GP, LLC













MMP Stock - Frequently Asked Questions

Should I buy or sell Magellan Midstream Partners stock right now?

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magellan Midstream Partners in the last year. There are currently 3 sell ratings, 7 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" MMP shares.
View MMP analyst ratings
or view top-rated stocks.

What is Magellan Midstream Partners' stock price forecast for 2023?

11 brokers have issued 12 month price objectives for Magellan Midstream Partners' shares. Their MMP share price forecasts range from $49.00 to $69.00. On average, they expect the company's share price to reach $60.70 in the next year. This suggests that the stock has a possible downside of 12.0%.
View analysts price targets for MMP
or view top-rated stocks among Wall Street analysts.

How have MMP shares performed in 2023?

Magellan Midstream Partners' stock was trading at $50.21 at the beginning of 2023. Since then, MMP stock has increased by 37.4% and is now trading at $69.00.
View the best growth stocks for 2023 here
.

Are investors shorting Magellan Midstream Partners?

Magellan Midstream Partners saw a increase in short interest during the month of August. As of August 15th, there was short interest totaling 6,940,000 shares, an increase of 28.3% from the July 31st total of 5,410,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 5.3 days. Currently, 3.5% of the shares of the stock are short sold.
View Magellan Midstream Partners' Short Interest
.

When is Magellan Midstream Partners' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our MMP earnings forecast
.

How were Magellan Midstream Partners' earnings last quarter?

Magellan Midstream Partners, L.P. (NYSE:MMP) issued its quarterly earnings results on Thursday, August, 3rd. The pipeline company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The pipeline company had revenue of $877.20 million for the quarter, compared to the consensus estimate of $797.91 million. Magellan Midstream Partners had a net margin of 29.55% and a trailing twelve-month return on equity of 58.77%.

How often does Magellan Midstream Partners pay dividends? What is the dividend yield for Magellan Midstream Partners?

Magellan Midstream Partners announced a None dividend on Monday, September 11th. Stockholders of record on Thursday, September 21st will be given a dividend of $0.247 per share on Monday, September 25th. The ex-dividend date of this dividend is Wednesday, September 20th.
Read our dividend analysis for MMP
.

Is Magellan Midstream Partners a good dividend stock?

Magellan Midstream Partners (NYSE:MMP) pays an annual dividend of $4.19 per share and currently has a dividend yield of 6.07%. 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 83.47%. 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 79.36% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for MMP.

What guidance has Magellan Midstream Partners issued on next quarter's earnings?

Magellan Midstream Partners updated its FY 2023 earnings guidance on Thursday, August, 3rd. The company provided earnings per share (EPS) guidance of $5.05-$5.05 for the period, compared to the consensus earnings per share estimate of $4.56. The company issued revenue guidance of -.

What is Michael N. Mears' approval rating as Magellan Midstream Partners' CEO?

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.

What other stocks do shareholders of Magellan Midstream Partners own?

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).

What is Magellan Midstream Partners' stock symbol?

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

Who are Magellan Midstream Partners' major shareholders?

Magellan Midstream Partners' stock is owned by a variety of retail and institutional investors. Top institutional investors include Goldman Sachs Group Inc. (3.49%), JPMorgan Chase & Co. (2.49%), Mirae Asset Global Investments Co. Ltd. (1.62%), Clearbridge Investments LLC (1.42%), Chickasaw Capital Management LLC (1.30%) and Citigroup Inc. (0.96%). Insiders that own company stock include Chansoo Joung, James R Montague, Jung Jennifer Fall, Lisa J Korner and Melanie A Little.
View institutional ownership trends
.

How do I buy shares of Magellan Midstream Partners?

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.
Compare Top Brokerages Here.

What is Magellan Midstream Partners' stock price today?

One share of MMP stock can currently be purchased for approximately $69.00.

How much money does Magellan Midstream Partners make?

Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $13.94 billion and generates $3.20 billion in revenue each year. The pipeline company earns $1.04 billion in net income (profit) each year or $5.02 on an earnings per share basis.

How many employees does Magellan Midstream Partners have?

The company employs 1,655 workers across the globe.

How can I contact Magellan Midstream Partners?

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.

This page (NYSE:MMP) was last updated on 9/25/2023 by MarketBeat.com Staff

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