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

$60.31
-0.66 (-1.08%)
(As of 02:15 PM ET)
Compare
Today's Range
$60.07
$60.99
50-Day Range
$50.89
$62.67
52-Week Range
$44.79
$64.42
Volume
1.22 million shs
Average Volume
1.13 million shs
Market Capitalization
$12.19 billion
P/E Ratio
10.95
Dividend Yield
6.95%
Price Target
$59.68

Magellan Midstream Partners MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
0.8% Downside
$59.68 Price Target
Short Interest
Healthy
3.82% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.61mentions of Magellan Midstream Partners in the last 14 days
Based on 6 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
2.97%
From $5.05 to $5.20 Per Share

Overall MarketRank

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

2.16 out of 5 stars

Oils/Energy Sector

149th out of 249 stocks

Pipelines, Except Natural Gas Industry

5th out of 11 stocks


MMP stock logo

About Magellan Midstream Partners (NYSE:MMP) Stock

Magellan Midstream Partners LP engages in the transportation, storage, and distribution of petroleum products and crude oil. It operates through the following segments: Refined Products and Crude Oil. The Refined Products segment consists of an approximately 9,800-mile refined petroleum products pipeline system with 54 terminals and two marine storage terminals. The Crude Oil segment has approximately 2,200 miles of crude oil pipelines, a condensate splitter, and 39 million barrels of aggregate storage capacity, of which approximately 29 million barrels are used for contract storage. The company was founded in August 2000 and is headquartered in Tulsa, OK.

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MMP Stock News Headlines

Magellan Midstream Partners Rallies On $18.8 Billion Merger
Magellan Midstream Partners is going to be acquired by ONEOK at a hefty premium, the new company represents upside beyond current analyst ratings.
146 Pounds of Graphite Needed for Each EV
Graphite - not lithium - is the largest component of lithium-ion batteries used in electric vehicles. That's why 97 more graphite mines will be needed by 2035 just to keep up with battery demand for the $7 trillion EV market.
The Ignored EV Story Few Investors Know About
Lithium may grab all the headlines, but the average electric vehicle requires 146 pounds of the mineral graphite. With no producing graphite mines in North America, the U.S. government is desperate for more domestic sources of the metal to feed the EV battery supply chain.
See More Headlines
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MMP Company Calendar

Last Earnings
5/04/2023
Ex-Dividend for 5/15 Dividend
5/05/2023
Dividend Payable
5/15/2023
Today
5/31/2023
Next Earnings (Estimated)
7/27/2023
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
$59.68
High Stock Price Forecast
$67.50
Low Stock Price Forecast
$49.00
Forecasted Upside/Downside
-2.2%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
11 Analysts

Profitability

Net Income
$1.04 billion
Pretax Margin
28.68%

Debt

Sales & Book Value

Annual Sales
$3.20 billion
Cash Flow
$6.07 per share
Book Value
$8.22 per share

Miscellaneous

Free Float
201,449,000
Market Cap
$12.33 billion
Optionable
Optionable
Beta
0.91

Social Links


Key Executives

  • Aaron L. Milford
    President, Chief Executive Officer & Director
  • James R Hoskin
    Senior Vice President -Operations
  • Jeffrey L. Holman
    Chief Financial Officer, Treasurer & Executive VP
  • Michael C. Pearson
    Senior Vice President-Technical Services
  • Douglas J. May
    SVP, General Counsel, Compliance & Ethics Officer













MMP Stock - Frequently Asked Questions

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

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.
View MMP analyst ratings
or view top-rated stocks.

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

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%.
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 start of the year. Since then, MMP shares have increased by 21.5% and is now trading at $61.03.
View the best growth stocks for 2023 here
.

When is Magellan Midstream Partners' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our MMP earnings forecast
.

How were Magellan Midstream Partners' earnings last quarter?

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.

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

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
.

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 6.85%. 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.

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

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 -.

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 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.
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 $61.03.

How much money does Magellan Midstream Partners make?

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.

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 5/31/2023 by MarketBeat.com Staff

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