Magellan Midstream Partners L.P. (MMP) Getting Somewhat Positive News Coverage, Analysis Finds

Press coverage about Magellan Midstream Partners L.P. (NYSE:MMP) has trended somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Magellan Midstream Partners L.P. earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave news coverage about the pipeline company an impact score of 46.5309183939344 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) opened at 70.50 on Tuesday. The firm’s 50-day moving average is $69.15 and its 200 day moving average is $71.44. Magellan Midstream Partners L.P. has a 12 month low of $63.92 and a 12 month high of $81.77. The company has a market capitalization of $16.08 billion, a price-to-earnings ratio of 19.12 and a beta of 0.79.

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The business had revenue of $619.40 million during the quarter, compared to analyst estimates of $561.70 million. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 19.4% on a year-over-year basis. Equities analysts expect that Magellan Midstream Partners L.P. will post $3.89 EPS for the current year.

A number of equities analysts have recently commented on MMP shares. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price objective (down from $73.00) on shares of Magellan Midstream Partners L.P. in a research report on Sunday, September 3rd. Barclays PLC lowered shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $77.00 in a research report on Tuesday, July 18th. BidaskClub upgraded shares of Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and issued a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a research report on Tuesday, June 20th. Finally, UBS AG upgraded shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Magellan Midstream Partners L.P. presently has an average rating of “Hold” and a consensus price target of $79.04.

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In other Magellan Midstream Partners L.P. news, insider Jeff R. Selvidge sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $70.64, for a total transaction of $353,200.00. Following the completion of the sale, the insider now directly owns 19,653 shares of the company’s stock, valued at approximately $1,388,287.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Magellan Midstream Partners L.P. Company Profile

Insider Buying and Selling by Quarter for Magellan Midstream Partners L.P. (NYSE:MMP)

Insider Buying and Selling by Quarter for Magellan Midstream Partners L.P. (NYSE:MMP)

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