Equities Analysts Offer Predictions for Magellan Midstream Partners, L.P.’s FY2017 Earnings (NYSE:MMP)

Magellan Midstream Partners, L.P. (NYSE:MMP) – Equities researchers at US Capital Advisors increased their FY2017 earnings per share (EPS) estimates for shares of Magellan Midstream Partners in a research note issued to investors on Thursday, Zacks Investment Research reports. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn $4.01 per share for the year, up from their prior 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.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results 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 business 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 for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share.

Several other equities analysts have also weighed in on the stock. Mizuho reiterated a “sell” rating and set a $72.00 price objective on shares of Magellan Midstream Partners in a report on Friday, October 20th. BMO Capital Markets started coverage on shares of Magellan Midstream Partners in a report on Monday, December 11th. They set a “buy” rating and a $80.00 price objective on the stock. Credit Suisse Group started coverage on shares of Magellan Midstream Partners in a report on Thursday, January 4th. They set 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. Finally, Bank of America started coverage on shares of Magellan Midstream Partners in a report on Tuesday. They set a “buy” rating on the stock. Four 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. The stock has a consensus rating of “Hold” and a consensus target price of $77.97.

Magellan Midstream Partners (NYSE:MMP) opened at $74.62 on Friday. Magellan Midstream Partners has a fifty-two week low of $63.55 and a fifty-two week high of $81.77. The stock has a market cap of $17,020.00, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.38 and a beta of 0.77. The company has a quick ratio of 0.29, a current ratio of 0.50 and a debt-to-equity ratio of 1.90.

Several large investors have recently bought and sold shares of the company. Walnut Private Equity Partners LLC increased its position in shares of Magellan Midstream Partners by 11.2% during the fourth quarter. Walnut Private Equity Partners LLC now owns 219,405 shares of the pipeline company’s stock worth $15,107,000 after acquiring an additional 22,020 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Magellan Midstream Partners by 2.6% during the fourth quarter. Chickasaw Capital Management LLC now owns 2,736,674 shares of the pipeline company’s stock worth $194,140,000 after acquiring an additional 70,619 shares in the last quarter. Atlantic Trust Group LLC increased its position in shares of Magellan Midstream Partners by 43.4% during the third quarter. Atlantic Trust Group LLC now owns 3,149,302 shares of the pipeline company’s stock worth $223,789,000 after acquiring an additional 953,808 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Magellan Midstream Partners by 3.1% during the third quarter. Parametric Portfolio Associates LLC now owns 502,232 shares of the pipeline company’s stock worth $35,689,000 after acquiring an additional 14,894 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Magellan Midstream Partners by 59.8% during the third quarter. Chicago Partners Investment Group LLC now owns 225,985 shares of the pipeline company’s stock worth $16,058,000 after acquiring an additional 84,540 shares in the last quarter. 62.03% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Equities Analysts Offer Predictions for Magellan Midstream Partners, L.P.’s FY2017 Earnings (NYSE:MMP)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://ledgergazette.com/2018/01/13/fy2017-earnings-forecast-for-magellan-midstream-partners-l-p-mmp-issued-by-us-capital-advisors.html.

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