NYSE:MMPMagellan Midstream Partners Stock Price, Forecast & News

Magellan Midstream Partners' stock was trading at $44.25 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, MMP shares have increased by 0.2% and is now trading at $44.36. View which stocks have been most impacted by Coronavirus.

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Magellan Midstream Partners in the last year. There are currently 2 hold ratings and 15 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Magellan Midstream Partners.

Magellan Midstream Partners is scheduled to release its next quarterly earnings announcement on Thursday, August 6th 2020. View our earnings forecast for Magellan Midstream Partners.

Magellan Midstream Partners, L.P. (NYSE:MMP) released its quarterly earnings results on Friday, May, 1st. The pipeline company reported $1.28 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.03 by $0.25. The pipeline company had revenue of $782.80 million for the quarter, compared to the consensus estimate of $676.67 million. Magellan Midstream Partners had a return on equity of 43.14% and a net margin of 38.20%. Magellan Midstream Partners's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. View Magellan Midstream Partners' earnings history.

Magellan Midstream Partners announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Friday, May 8th will be given a dividend of $1.028 per share on Friday, May 15th. This represents a $4.11 annualized dividend and a yield of 9.27%. The ex-dividend date of this dividend is Thursday, May 7th. This is a boost from Magellan Midstream Partners's previous quarterly dividend of $1.03. View Magellan Midstream Partners' dividend history.

17 Wall Street analysts have issued 12-month price objectives for Magellan Midstream Partners' shares. Their forecasts range from $42.00 to $71.00. On average, they expect Magellan Midstream Partners' stock price to reach $56.00 in the next twelve months. This suggests a possible upside of 26.2% from the stock's current price. View analysts' price targets for Magellan Midstream Partners.

News stories about MMP stock have been trending very positive recently, according to InfoTrie Sentiment. The research group rates the sentiment of news coverage by reviewing more than six thousand blog and news sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Magellan Midstream Partners earned a media sentiment score of 4.0 on InfoTrie's scale. They also assigned news coverage about the pipeline company a news buzz of 10.0 out of 10, meaning that recent news coverage is extremely likely to have an effect on the stock's share price in the near term. View the latest news aboutMagellan Midstream Partners.

Magellan Midstream Partners saw a drop in short interest during the month of April. As of April 30th, there was short interest totaling 5,380,000 shares, a drop of 11.8% from the April 15th total of 6,100,000 shares. Based on an average trading volume of 2,270,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.4% of the company's shares are sold short. View Magellan Midstream Partners' Current Options Chain.

Some companies that are related to Magellan Midstream Partners include Mplx (MPLX), Phillips 66 Partners (PSXP), Plains All American Pipeline (PAA), Shell Midstream Partners (SHLX), Plains GP (PAGP), NuStar Energy (NS), Holly Energy Partners (HEP), BP Midstream Partners (BPMP), Noble Midstream Partners (NBLX), Delek Logistics Partners (DKL), PBF Logistics (PBFX) and Blueknight Energy Partners (BKEP). View all competitors.

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), Energy Transfer LP Unit (ET), Johnson & Johnson (JNJ), Verizon Communications (VZ), AbbVie (ABBV), Cisco Systems (CSCO), Exxon Mobil (XOM), Pfizer (PFE) and Kinder Morgan (KMI).

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

Magellan Midstream Partners' stock is owned by a number of institutional and retail investors. Top institutional shareholders include Tortoise Capital Advisors L.L.C. (5.39%), Alps Advisors Inc. (5.03%), Invesco Ltd. (4.67%), Janus Henderson Group PLC (3.40%), Harvest Fund Advisors LLC (3.29%) and UBS Group AG (2.14%). Company insiders that own Magellan Midstream Partners stock include Chansoo Joung, Douglas J May, James R Montague, Jeff R Selvidge, Lisa J Korner, Michael N Mears and Robert G Croyle. View institutional ownership trends for Magellan Midstream Partners.

MMP stock was sold by a variety of institutional investors in the last quarter, including Tortoise Capital Advisors L.L.C., Kayne Anderson Capital Advisors LP, Alps Advisors Inc., Northwestern Mutual Investment Management Company LLC, Clearbridge Investments LLC, Creative Planning, Eagle Global Advisors LLC, and Nuveen Asset Management LLC. Company insiders that have sold Magellan Midstream Partners company stock in the last year include James R Montague, and Jeff R Selvidge. View insider buying and selling activity for Magellan Midstream Partners.

MMP stock was acquired by a variety of institutional investors in the last quarter, including Harvest Fund Advisors LLC, Mitsubishi UFJ Trust & Banking Corp, Morgan Stanley, Janus Henderson Group PLC, Chickasaw Capital Management LLC, Invesco Ltd., HITE Hedge Asset Management LLC, and Vident Investment Advisory LLC. View insider buying and selling activity for Magellan Midstream Partners.

Shares of MMP can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of MMP stock can currently be purchased for approximately $44.36.

Magellan Midstream Partners has a market capitalization of $9.98 billion and generates $2.73 billion in revenue each year. The pipeline company earns $1.02 billion in net income (profit) each year or $4.76 on an earnings per share basis. Magellan Midstream Partners employs 1,884 workers across the globe.

The official website for Magellan Midstream Partners is www.magellanlp.com.

Magellan Midstream Partners' mailing address is One Williams Center P.O. Box 22186, TULSA OK, 74121. The pipeline company can be reached via phone at 918-574-7000 or via email at [email protected]