Magellan Midstream Partners (NYSE:MMP) is scheduled to be announcing its earnings results before the market opens on Thursday, July 29th. Analysts expect the company to announce earnings of $0.94 per share for the quarter. Magellan Midstream Partners has set its FY 2021 guidance at 4.200-4.200 EPS and its Q2 2021 guidance at 1.150-1.150 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.
Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, April 29th. The pipeline company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.87 by $0.22. Magellan Midstream Partners had a return on equity of 34.70% and a net margin of 32.55%. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $661.52 million. During the same period last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was down 15.6% on a year-over-year basis. On average, analysts expect Magellan Midstream Partners to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
MMP opened at $46.38 on Thursday. Magellan Midstream Partners has a 52 week low of $32.61 and a 52 week high of $53.85. The stock’s fifty day moving average price is $49.53. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 13.89 and a beta of 1.12. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.47 and a current ratio of 0.85.
Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Magellan Midstream Partners from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, June 18th. Royal Bank of Canada raised their price target on Magellan Midstream Partners from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 4th. Raymond James raised their price target on Magellan Midstream Partners from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. TD Securities cut Magellan Midstream Partners from a “buy” rating to a “hold” rating and increased their price objective for the company from $47.00 to $48.00 in a research note on Friday, April 30th. Finally, Wells Fargo & Company increased their price objective on Magellan Midstream Partners from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 24th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $48.33.
About Magellan Midstream Partners
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products and Crude Oil segments. It operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to refiners, 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.
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