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 2 sell ratings, 3 hold ratings and 6 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 brokers have issued 12 month price targets for Magellan Midstream Partners' shares. Their MMP share price forecasts range from $49.00 to $59.00. On average, they predict the company's stock price to reach $56.27 in the next year. This suggests a possible upside of 3.7% from the stock's current price.
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Magellan Midstream Partners' stock was trading at $50.21 at the start of the year. Since then, MMP stock has increased by 8.1% and is now trading at $54.26.
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Magellan Midstream Partners saw a decline in short interest in February. As of February 15th, there was short interest totaling 6,640,000 shares, a decline of 19.6% from the January 31st total of 8,260,000 shares. Based on an average daily trading volume, of 863,600 shares, the short-interest ratio is currently 7.7 days. Currently, 3.3% of the shares of the company are sold short.
View Magellan Midstream Partners' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our MMP earnings forecast.

Magellan Midstream Partners, L.P. (NYSE:MMP) issued its quarterly earnings results on Tuesday, November, 2nd. The pipeline company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.12. The pipeline company earned $639.05 million during the quarter, compared to analyst estimates of $648.14 million. Magellan Midstream Partners had a net margin of 32.38% and a trailing twelve-month return on equity of 54.53%. During the same quarter in the previous year, the company earned $0.97 EPS.

Magellan Midstream Partners declared a quarterly dividend on Tuesday, January 24th. Shareholders of record on Tuesday, February 7th will be given a dividend of $1.048 per share on Tuesday, February 14th. This represents a $4.19 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date is Monday, February 6th. This is a boost from the stock's previous quarterly dividend of $1.05.
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), FT Energy Income Partners Strategy ETF (EIPX), Global X MLP & Energy Infrastructure ETF (MLPX) and Alerian Energy Infrastructure ETF (ENFR).

Magellan Midstream Partners (NYSE:MMP) pays an annual dividend of $4.19 per share and currently has a dividend yield of 7.92%. 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 84.65%. 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 81.04% 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 first quarter 2023 earnings guidance on Thursday, February, 2nd. The company provided earnings per share guidance of $1.20-$1.20 for the period, compared to the consensus estimate of $1.24. 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 number of retail and institutional investors. Top institutional shareholders include Moneta Group Investment Advisors LLC (24.79%), Alps Advisors Inc. (6.43%), Energy Income Partners LLC (3.23%), Morgan Stanley (2.13%), Tortoise Capital Advisors L.L.C. (1.79%) and Cottage Street Advisors LLC (1.71%). 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 $54.26.

Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $11.03 billion and generates $3.20 billion in revenue each year. The pipeline company earns $1.04 billion in net income (profit) each year or $4.95 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.