Equities research analysts expect Magellan Midstream Partners L.P. (NYSE:MMP) to post earnings per share of $0.96 for the current quarter, Zacks reports. Three analysts have made estimates for Magellan Midstream Partners L.P.’s earnings. The lowest EPS estimate is $0.90 and the highest is $0.99. Magellan Midstream Partners L.P. reported earnings per share of $0.91 in the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Magellan Midstream Partners L.P. will report full-year earnings of $3.88 per share for the current year, with EPS estimates ranging from $3.81 to $3.94. For the next year, analysts forecast that the business will report earnings of $4.07 per share, with EPS estimates ranging from $3.82 to $4.46. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Magellan Midstream Partners L.P..

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million during the quarter, compared to analyst estimates of $561.70 million. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. Magellan Midstream Partners L.P.’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS.

MMP has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Thursday, April 13th. Macquarie initiated coverage on Magellan Midstream Partners L.P. in a report on Friday, April 21st. They issued a “neutral” rating and a $80.00 price objective for the company. Credit Suisse Group upgraded Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $84.00 in a report on Thursday, May 4th. Jefferies Group LLC initiated coverage on Magellan Midstream Partners L.P. in a report on Thursday, June 22nd. They issued a “hold” rating and a $73.00 price objective for the company. Finally, BidaskClub upgraded Magellan Midstream Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $79.10.

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In other Magellan Midstream Partners L.P. news, insider Douglas J. May sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $75.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 27,599 shares of the company’s stock, valued at $2,069,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MMP. Founders Capital Management purchased a new position in shares of Magellan Midstream Partners L.P. during the first quarter valued at about $109,000. Catalyst Capital Advisors LLC boosted its position in shares of Magellan Midstream Partners L.P. by 23.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock valued at $121,000 after buying an additional 300 shares during the last quarter. NEXT Financial Group Inc boosted its position in shares of Magellan Midstream Partners L.P. by 7.5% in the second quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock valued at $129,000 after buying an additional 126 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of Magellan Midstream Partners L.P. by 4.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock valued at $140,000 after buying an additional 87 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Magellan Midstream Partners L.P. by 444.9% in the first quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock valued at $148,000 after buying an additional 1,575 shares during the last quarter. 62.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of Magellan Midstream Partners L.P. (MMP) traded down 0.33% during mid-day trading on Tuesday, reaching $68.98. 115,836 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $70.09 and a 200 day moving average of $74.72. Magellan Midstream Partners L.P. has a one year low of $64.25 and a one year high of $81.77. The firm has a market capitalization of $15.73 billion, a P/E ratio of 18.70 and a beta of 0.80.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.14%. This is an increase from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, July 27th. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is presently 96.74%.

About Magellan Midstream Partners L.P.

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Earnings History and Estimates for Magellan Midstream Partners L.P. (NYSE:MMP)

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