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NYSE:MMP

Magellan Midstream Partners - MMP Stock Forecast, Price & News

$50.16
+0.51 (+1.03%)
(As of 08/10/2022 12:00 AM ET)
Add
Compare
Today's Range
$49.59
$50.77
50-Day Range
$45.92
$53.38
52-Week Range
$43.58
$53.75
Volume
868,003 shs
Average Volume
1.16 million shs
Market Capitalization
$10.42 billion
P/E Ratio
10.74
Dividend Yield
8.36%
Price Target
$53.50

Magellan Midstream Partners MarketRank™ Forecast

Analyst Rating
Hold
2.25 Rating Score
Upside/​Downside
6.7% Upside
$53.50 Price Target
Short Interest
Healthy
3.99% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.20mentions of Magellan Midstream Partners in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
N/A

Overall MarketRank

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

1.71 out of 5 stars

Oils/Energy Sector

220th out of 259 stocks

Pipelines, Except Natural Gas Industry

12th out of 15 stocks

MMP stock logo

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 Stock Down 0.5 %

Shares of Magellan Midstream Partners stock traded down $0.23 during midday trading on Tuesday, hitting $49.65. The company's stock had a trading volume of 709,814 shares, compared to its average volume of 1,165,995. The firm has a market capitalization of $10.31 billion, a P/E ratio of 10.63, a PEG ratio of 3.10 and a beta of 0.95. The stock has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $49.29. 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 has a 1-year low of $43.58 and a 1-year high of $53.75.

Magellan Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, August 5th will be given a dividend of $1.0375 per share. The ex-dividend date is Thursday, August 4th. This represents a $4.15 dividend on an annualized basis and a yield of 8.36%. Magellan Midstream Partners's payout ratio is 88.87%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MMP. TD Securities lifted their target price on Magellan Midstream Partners from $51.00 to $52.00 and gave the company a "hold" rating in a research note on Friday, May 6th. The Goldman Sachs Group upgraded Magellan Midstream Partners from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $59.00 in a research report on Wednesday, June 8th. JPMorgan Chase & Co. upgraded Magellan Midstream Partners from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $52.00 to $57.00 in a research report on Wednesday, May 25th. Morgan Stanley lifted their price target on Magellan Midstream Partners from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Tuesday, April 26th. Finally, Wells Fargo & Company upgraded Magellan Midstream Partners from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $54.00 to $56.00 in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.50.

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MMP Stock News Headlines

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

Last Earnings
11/02/2021
Ex-Dividend for 5/13 Dividend
4/29/2022
Dividend Payable
5/13/2022
Ex-Dividend for 8/12 Dividend
8/04/2022
Today
8/10/2022
Dividend Payable
8/12/2022
Next Earnings (Estimated)
11/01/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Pipelines, except natural gas
Sub-Industry
N/A
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
+6.7%
Consensus Rating
Hold
Rating Score (0-4)
2.25
Research Coverage
12 Analysts

Profitability

Net Income
$982 million
Pretax Margin
27.50%

Debt

Sales & Book Value

Annual Sales
$2.73 billion
Cash Flow
$6.07 per share
Book Value
$8.94 per share

Miscellaneous

Free Float
206,853,000
Market Cap
$10.42 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













MMP Stock - Frequently Asked Questions

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

12 Wall Street equities 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 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.
View MMP analyst ratings
or view top-rated stocks.

What is Magellan Midstream Partners' stock price forecast for 2022?

12 Wall Street research analysts 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 $53.50 in the next year. This suggests a possible upside of 5.9% 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 8.8% and is now trading at $50.51.
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) announced its earnings results on Tuesday, November, 2nd. The pipeline company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.12. The pipeline company earned $639.05 million during the quarter, compared to analysts' expectations of $648.14 million. Magellan Midstream Partners had a trailing twelve-month return on equity of 51.99% and a net margin of 34.33%. During the same period in the previous year, the business earned $0.97 EPS.

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

Magellan Midstream Partners declared 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 dividend on an annualized basis and a dividend yield of 8.22%. 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 8.32%. 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 (EPS) 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 a number of institutional and retail investors. Top institutional investors include Mirae Asset Global Investments Co. Ltd. (1.44%), Chickasaw Capital Management LLC (1.43%), Kayne Anderson Capital Advisors LP (0.95%), CIBC Private Wealth Group LLC (0.68%), Fractal Investments LLC (0.28%) and Miller Howard Investments Inc. NY (0.22%). 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 $50.51.

How much money does Magellan Midstream Partners make?

Magellan Midstream Partners (NYSE:MMP) has a market capitalization of $10.49 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 8/10/2022 by MarketBeat.com Staff

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