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

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.
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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.

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.
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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.

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

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%.

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.

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), IQ Merger Arbitrage ETF (MNA) and FT Energy Income Partners Strategy ETF (EIPX).

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.

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 -.

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 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.

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 $69.00.

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.

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.