US Capital Advisors Weighs in on Magellan Midstream Partners, L.P.’s FY2017 Earnings (MMP)

Magellan Midstream Partners, L.P. (NYSE:MMP) – Investment analysts at US Capital Advisors boosted their FY2017 earnings estimates for shares of Magellan Midstream Partners in a research note issued to investors on Thursday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $4.01 for the year, up from their previous forecast of $3.93. US Capital Advisors also issued estimates for Magellan Midstream Partners’ Q4 2017 earnings at $1.16 EPS, Q2 2018 earnings at $1.01 EPS, Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.13 EPS and FY2019 earnings at $4.49 EPS.

Other analysts have also issued reports about the stock. Credit Suisse Group assumed coverage on shares of Magellan Midstream Partners in a report on Thursday. They issued an “underperform” rating on the stock. Citigroup upgraded shares of Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, September 21st. BMO Capital Markets assumed coverage on shares of Magellan Midstream Partners in a report on Monday, December 11th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Mizuho restated a “sell” rating and issued a $72.00 price objective on shares of Magellan Midstream Partners in a report on Friday, October 20th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Magellan Midstream Partners currently has a consensus rating of “Hold” and an average target price of $77.97.

Shares of Magellan Midstream Partners (MMP) opened at $73.12 on Friday. The stock has a market cap of $16,636.68, a PE ratio of 19.76, a P/E/G ratio of 2.37 and a beta of 0.77. Magellan Midstream Partners has a fifty-two week low of $63.55 and a fifty-two week high of $81.77. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.50 and a quick ratio of 0.29.

Magellan Midstream Partners (NYSE:MMP) last issued its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The firm had revenue of $551.80 million for the quarter, compared to analyst estimates of $610.12 million. Magellan Midstream Partners had a net margin of 34.50% and a return on equity of 40.99%. Magellan Midstream Partners’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its position in Magellan Midstream Partners by 5.2% in the 3rd quarter. Alps Advisors Inc. now owns 15,065,633 shares of the pipeline company’s stock valued at $1,070,564,000 after acquiring an additional 745,755 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Magellan Midstream Partners by 5.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,238,881 shares of the pipeline company’s stock valued at $1,011,815,000 after acquiring an additional 717,317 shares in the last quarter. JPMorgan Chase & Co. grew its position in Magellan Midstream Partners by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,316,528 shares of the pipeline company’s stock valued at $304,574,000 after acquiring an additional 495,394 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in Magellan Midstream Partners by 5.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,163,725 shares of the pipeline company’s stock valued at $224,798,000 after acquiring an additional 170,488 shares in the last quarter. Finally, Atlantic Trust Group LLC grew its position in Magellan Midstream Partners by 43.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 3,149,302 shares of the pipeline company’s stock valued at $223,789,000 after acquiring an additional 953,808 shares in the last quarter. 62.04% of the stock is owned by institutional investors.

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Magellan Midstream Partners Company Profile

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