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 twelve months. There are currently 3 sell ratings, 3 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities 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.
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11 Wall Street analysts have issued 1-year target prices for Magellan Midstream Partners' shares. Their MMP share price forecasts range from $49.00 to $59.00. On average, they anticipate the company's share price to reach $54.55 in the next year. This suggests a possible upside of 7.3% from the stock's current price.
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Magellan Midstream Partners' stock was trading at $46.44 at the beginning of 2022. Since then, MMP stock has increased by 9.4% and is now trading at $50.82.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 1st 2023.
View our MMP earnings forecast.

Magellan Midstream Partners, L.P. (NYSE:MMP) issued its quarterly earnings data on Tuesday, November, 2nd. The pipeline company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.12. The pipeline company had revenue of $639.05 million for the quarter, compared to analysts' expectations of $648.14 million. Magellan Midstream Partners had a net margin of 34.72% and a trailing twelve-month return on equity of 55.55%. During the same quarter last year, the firm earned $0.97 EPS.

Magellan Midstream Partners declared a quarterly dividend on Thursday, October 20th. Investors of record on Monday, November 7th will be given a dividend of $1.0475 per share on Monday, November 14th. This represents a $4.19 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Friday, November 4th. This is an increase from the stock's previous quarterly dividend of $1.04.
Read our dividend analysis for MMP.

Magellan Midstream Partners (NYSE:MMP) pays an annual dividend of $4.19 per share and currently has a dividend yield of 8.11%. 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 19 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 80.89%. 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 85.34% 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 issued an update on its fourth quarter 2022 earnings guidance on Thursday, November, 3rd. The company provided earnings per share (EPS) guidance of $1.22-$1.22 for the period, compared to the consensus earnings per share estimate of $1.29. 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 institutional and retail investors. Top institutional shareholders include Energy Income Partners LLC (3.14%), Tortoise Capital Advisors L.L.C. (1.87%), Chickasaw Capital Management LLC (1.57%), UBS Group AG (1.52%), CIBC Private Wealth Group LLC (0.67%) and Kayne Anderson Capital Advisors LP (0.62%). Insiders that own company stock include Chansoo Joung, James R Montague, Jeff R Selvidge, Jung Jennifer Fall, Lisa J Korner and Melanie A Little.
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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 $50.82.

Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $10.41 billion and generates $2.73 billion in revenue each year. The pipeline company earns $982 million in net income (profit) each year or $5.18 on an earnings per share basis.

The company employs 1,715 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.