NYSE:MMP

Magellan Midstream Partners - MMP Stock Forecast, Price & News

$52.32

+0.68 (+1.32%)

(As of 08/15/2022 12:00 AM ET)

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Today's Range: $50.53
▼
$52.32
50-Day Range: $45.92
▼
$53.38
52-Week Range: $43.58
▼
$53.75

Volume: 1.00 million shs
Average Volume: 978,108 shs
Market Capitalization: $10.87 billion

P/E Ratio: 11.20
Dividend Yield: 8.04%
Price Target: $53.50

Overall MarketRank^™

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

1.51 out of 5 stars

Oils/Energy Sector

233rd out of 261 stocks

Pipelines, Except Natural Gas Industry

12th out of 14 stocks

1.1

Analyst's Opinion

Consensus Rating
Magellan Midstream Partners has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 5 buy ratings, 5 hold ratings, and 2 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $53.50, Magellan Midstream Partners has a forecasted upside of 2.3% from its current price of $52.32.
Amount of Analyst Coverage
Magellan Midstream Partners has only been the subject of 4 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
3.99% of the float of Magellan Midstream Partners has been sold short.
Short Interest Ratio / Days to Cover
Magellan Midstream Partners has a short interest ratio ("days to cover") of 7.3.
Change versus previous month
Short interest in Magellan Midstream Partners has recently decreased by 2.98%, indicating that investor sentiment is improving.

3.3

Dividend Strength

Dividend Leadership
Magellan Midstream Partners is a leading dividend payer. It pays a dividend yield of 8.04%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Magellan Midstream Partners has been increasing its dividend for 20 years.
Dividend Coverage
The dividend payout ratio of Magellan Midstream Partners is 88.87%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on EPS estimates, Magellan Midstream Partners will have a dividend payout ratio of 88.87% in the coming year. This indicates that Magellan Midstream Partners may not be able to sustain their current dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MMP.

0.6

News and Social Media Coverage

Search Interest
Only 39 people have searched for MMP on MarketBeat in the last 30 days. This is a decrease of -17% compared to the previous 30 days.
MarketBeat Follows
23 people have added Magellan Midstream Partners to their MarketBeat watchlist in the last 30 days. This is an increase of 35% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Magellan Midstream Partners insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.40% of the stock of Magellan Midstream Partners is held by insiders.
Percentage Held by Institutions
53.28% of the stock of Magellan Midstream Partners is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Magellan Midstream Partners are expected to remain at $4.67 per share in the coming year.
Price to Earnings Ratio vs. the Market
The P/E ratio of Magellan Midstream Partners is 11.20, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.80.
Price to Earnings Ratio vs. Sector
The P/E ratio of Magellan Midstream Partners is 11.20, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 39.08.
Price to Earnings Growth Ratio
Magellan Midstream Partners has a PEG Ratio of 3.21. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Magellan Midstream Partners has a P/B Ratio of 5.85. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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. It operates through Refined Products and Crude Oil segments. The company operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to 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. Further, it 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. As of December 31, 2021, it had 9,800-mile refined products pipeline system with 54 terminals; approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 39 million barrels; and two marine terminals. The company was incorporated in 2000 and is headquartered in Tulsa, Oklahoma.

Magellan Midstream Partners Price Performance

Shares of NYSE:MMP opened at $52.32 on Tuesday. The business has a 50 day moving average price of $49.59 and a two-hundred day moving average price of $49.37. Magellan Midstream Partners has a fifty-two week low of $43.58 and a fifty-two week high of $53.75. The firm has a market cap of $10.87 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95. The company has a quick ratio of 0.49, a current ratio of 0.97 and a debt-to-equity ratio of 2.84.

Magellan Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were paid a $1.0375 dividend. The ex-dividend date was Thursday, August 4th. This represents a $4.15 dividend on an annualized basis and a dividend yield of 7.93%. Magellan Midstream Partners's dividend payout ratio (DPR) is presently 88.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MMP shares. Morgan Stanley lifted their price target on shares of Magellan Midstream Partners from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Tuesday, April 26th. The Goldman Sachs Group upgraded shares of Magellan Midstream Partners from a "neutral" rating to a "buy" rating and lifted their target price for the company from $55.00 to $59.00 in a report on Wednesday, June 8th. Royal Bank of Canada increased their price target on Magellan Midstream Partners from $56.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, August 3rd. Wells Fargo & Company raised Magellan Midstream Partners from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $54.00 to $56.00 in a research report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. raised Magellan Midstream Partners from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $52.00 to $57.00 in a research report on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Magellan Midstream Partners presently has an average rating of "Hold" and an average target price of $53.50.

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MMP Stock News Headlines

August 5, 2022 | finance.yahoo.com

Magellan Midstream Partners, L.P.: Maintaining HOLD following 2Q22 results

August 5, 2022 | americanbankingnews.com

Magellan Midstream Partners (NYSE:MMP) PT Raised to $58.00

August 4, 2022 | finance.yahoo.com

Magellan Midstream (MMP) Earnings & Sales Beat Estimates in Q2

August 2, 2022 | nasdaq.com

Magellan Midstream Partners About To Put More Money In Your Pocket (MMP)

August 1, 2022 | seekingalpha.com

Magellan Midstream Partners: Still Cheap And Still Buying Back Units

July 30, 2022 | americanbankingnews.com

US Capital Advisors Equities Analysts Increase Earnings Estimates for Magellan Midstream Partners, L.P. (NYSE:MMP)

July 28, 2022 | seekingalpha.com

Magellan Midstream Partners LP (MMP) CEO Aaron Milford on Q2 2022 Results - Earnings Call Transcript

July 28, 2022 | finance.yahoo.com

Magellan's Permian-Houston crude pipelines volumes drop, fuel volumes rise

July 28, 2022 | finance.yahoo.com

Magellan Midstream Reports Second-Quarter 2022 Financial Results

July 27, 2022 | americanbankingnews.com

Brokerages Set Magellan Midstream Partners, L.P. (NYSE:MMP) Price Target at $53.30

July 26, 2022 | americanbankingnews.com

Magellan Midstream Partners (MMP) to Release Earnings on Thursday

July 25, 2022 | finance.yahoo.com

Is Magellan (MMP) Poised for Another Earnings Beat This Q2?

July 24, 2022 | seekingalpha.com

Magellan Midstream Partners Yields 8.5% And Is Buying Back Units

July 21, 2022 | finance.yahoo.com

Magellan Midstream (MMP) Moves to Strong Buy: Rationale Behind the Upgrade

July 21, 2022 | finance.yahoo.com

Magellan Midstream Declares Cash Distribution of $1.0375 for Second Quarter 2022

July 19, 2022 | nasdaq.com

First Week of September 16th Options Trading For Magellan Midstream Partners (MMP)

July 15, 2022 | seekingalpha.com

Magellan Midstream extends open season on Houston-to-El Paso pipe expansion

July 15, 2022 | finance.yahoo.com

Magellan Midstream Extends Open Season to July 29 for Potential Expansion of Refined Products Pipeline System to El Paso

July 14, 2022 | thestreet.com

Magellan Midstream Partners L.P. Limited Partnership

July 13, 2022 | finance.yahoo.com

3 Energy Stocks That Will Pay You Passive Income for Years

July 5, 2022 | forbes.com

Inflation Won’t Interrupt Cash Flows For Magellan Midstream Partners

July 4, 2022 | finance.yahoo.com

Magellan (MMP) Extends Open Season for Texas Pipeline Expansion

June 29, 2022 | finance.yahoo.com

Magellan Midstream to Announce Second-Quarter 2022 Financial Results on July 28

June 21, 2022 | morningstar.com

Magellan Midstream Partners LP - Stock Ownership MMP

June 21, 2022 | morningstar.com

Magellan Midstream Partners LP - Stock Trailing Returns MMP

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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MMP Company Calendar

Last Earnings: 11/02/2021
Ex-Dividend for 8/12 Dividend: 8/04/2022
Dividend Payable: 8/12/2022
Today: 8/16/2022
Next Earnings (Estimated): 11/01/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Pipelines, except natural gas
Sub-Industry: N/A
Sector: Oils/Energy
Current Symbol: NYSE:MMP
CUSIP: N/A
CIK: 1126975
Web: www.magellanlp.com
Phone: (918) 574-7000
Fax: 302-655-5049
Employees: 1,715
Year Founded: 2000

Price Target and Rating

Average Stock Price Forecast: $53.50
High Stock Price Forecast: $59.00
Low Stock Price Forecast: $49.00
Forecasted Upside/Downside: +2.3%
Consensus Rating: Hold
Rating Score (0-4): 2.25
Research Coverage: 12 Analysts

Profitability

EPS (Most Recent Fiscal Year): $4.67
Trailing P/E Ratio: 11.20
Forward P/E Ratio: 11.20
P/E Growth: 3.21
Net Income: $982 million
Net Margins: 34.33%
Pretax Margin: 27.50%
Return on Equity: 51.99%
Return on Assets: 11.99%

Debt

Debt-to-Equity Ratio: 2.84
Current Ratio: 0.97
Quick Ratio: 0.49

Sales & Book Value

Annual Sales: $2.73 billion
Price / Sales: 3.98
Cash Flow: $6.12 per share
Price / Cash Flow: 8.55
Book Value: $8.94 per share
Price / Book: 5.85

Miscellaneous

Outstanding Shares: 207,680,000
Free Float: 206,853,000
Market Cap: $10.87 billion
Optionable: Optionable
Beta: 0.95

Social Links

Key Executives

Mr. Aaron L. Milford (Age 48)
Pres, CEO & Director of Magellan GP LLC
Comp: $1.71M
Mr. Jeffrey L. Holman (Age 51)
Principal Accounting Officer, Exec. VP, CFO & Treasurer
Comp: $1.33M
Ms. Melanie A. Little (Age 52)
Exec. VP & Chief Operating Officer
Comp: $1.22M
Mr. Douglas J. May (Age 51)
Sr. VP, Gen. Counsel and Compliance & Ethics Officer of Magellan GP LLC
Comp: $1.07M
Mr. Michael C. Pearson (Age 59)
Sr. VP of Technical Services - Magellan GP LLC
Ms. Lisa J. Korner (Age 61)
Sr. VP of HR & Admin.
Ms. Paula Farrell
Associate VP of Investor Relations - Magellan GP LLC
Mr. Robert L. Barnes (Age 57)
Sr. VP of Commercial for Crude Oil - Magellan GP LLC
Mr. Michael J. Aaronson (Age 47)
Exec. VP & Chief Commercial Officer
Mr. Mark B. Roles (Age 47)
Sr. VP of Commercial & Refined Products - Magellan GP LLC

Key Competitors

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Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MMP Stock - Frequently Asked Questions

Should I buy or sell Magellan Midstream Partners stock right now?: 12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Magellan Midstream Partners in the last twelve months. There are currently 2 sell ratings, 5 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research 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 2022?: 12 equities research analysts have issued 12 month price objectives for Magellan Midstream Partners' stock. Their MMP share price forecasts range from $49.00 to $59.00. On average, they predict the company's share price to reach $53.50 in the next year. This suggests a possible upside of 2.3% from the stock's current price.
View analysts price targets for MMP or view top-rated stocks among Wall Street analysts.
How have MMP shares performed in 2022?: Magellan Midstream Partners' stock was trading at $46.44 at the start of the year. Since then, MMP shares have increased by 12.7% and is now trading at $52.32.
View the best growth stocks for 2022 here.
When is Magellan Midstream Partners' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 1st 2022.
View our MMP earnings forecast.
How were Magellan Midstream Partners' earnings last quarter?: Magellan Midstream Partners, L.P. (NYSE:MMP) posted its quarterly earnings results on Tuesday, November, 2nd. The pipeline company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.12. The pipeline company had revenue of $639.05 million for the quarter, compared to the consensus estimate of $648.14 million. Magellan Midstream Partners had a net margin of 34.33% and a trailing twelve-month return on equity of 51.99%. During the same quarter in the prior year, the firm earned $0.97 EPS.
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 Friday, July 22nd. Investors of record on Friday, August 5th will be given a dividend of $1.0375 per share on Friday, August 12th. This represents a $4.15 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend is Thursday, August 4th.
Read our dividend analysis for MMP.
Is Magellan Midstream Partners a good dividend stock?: Magellan Midstream Partners (NYSE:MMP) pays an annual dividend of $4.15 per share and currently has a dividend yield of 8.04%. 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 88.87%. 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 88.87% 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 2022 earnings guidance on Monday, May, 23rd. The company provided earnings per share guidance of $1.12-$1.12 for the period, compared to the consensus EPS estimate of $1.01. 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 Alps Advisors Inc. (6.25%), Tortoise Capital Advisors L.L.C. (1.91%), UBS Group AG (1.48%), Mirae Asset Global Investments Co. Ltd. (1.44%), Chickasaw Capital Management LLC (1.43%) and Clearbridge Investments LLC (1.37%). Insiders that own company stock include Chansoo Joung, James R Montague, Jeff R Selvidge, 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 $52.32.
How much money does Magellan Midstream Partners make?: Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $10.87 billion and generates $2.73 billion in revenue each year. The pipeline company earns $982 million in net income (profit) each year or $4.67 on an earnings per share basis.
How many employees does Magellan Midstream Partners have?: The company employs 1,715 workers across the globe.
When was Magellan Midstream Partners founded?: Magellan Midstream Partners was founded in 2000.
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 8/16/2022 by MarketBeat.com Staff

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Magellan Midstream Partners - MMP Stock Forecast, Price & News

Magellan Midstream Partners MarketRank™ Forecast

Overall MarketRank™