Media coverage about Magellan Midstream Partners (NYSE:MMP) has been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Magellan Midstream Partners earned a coverage optimism score of 0.14 on Accern’s scale. Accern also assigned media stories about the pipeline company an impact score of 46.4188392891459 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern’s rankings:
- Magellan Midstream Partners LP (MMP) Seeing Increased Action in Session (-1.29%) – Newburgh Gazette (newburghgazette.com)
- Texas flood – U.S. oil exports pour into markets worldwide (finance.yahoo.com)
- $630.33 Million in Sales Expected for Magellan Midstream Partners, L.P. (MMP) This Quarter (americanbankingnews.com)
- Buckeye Partners: Analysts’ Recommendations before 4Q17 Results (finance.yahoo.com)
- Magellan Midstream Partners – Increasing Distribution Even During Recessions – Seeking Alpha (seekingalpha.com)
A number of brokerages have recently issued reports on MMP. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Magellan Midstream Partners in a research report on Friday, February 2nd. Bank of America cut their price objective on shares of Magellan Midstream Partners from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Magellan Midstream Partners in a research report on Friday, February 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $79.00 target price on shares of Magellan Midstream Partners in a research note on Friday, February 2nd. Finally, Barclays lowered their target price on shares of Magellan Midstream Partners from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $77.36.
Shares of Magellan Midstream Partners (NYSE MMP) traded down $0.38 during midday trading on Friday, reaching $66.28. 1,330,000 shares of the company’s stock traded hands, compared to its average volume of 929,092. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. Magellan Midstream Partners has a twelve month low of $63.55 and a twelve month high of $81.77. The firm has a market cap of $15,110.00, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.68 and a beta of 0.61.
Magellan Midstream Partners (NYSE:MMP) last posted its earnings results on Thursday, February 1st. The pipeline company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Magellan Midstream Partners had a net margin of 34.67% and a return on equity of 40.85%. The firm had revenue of $673.30 million during the quarter, compared to analyst estimates of $690.18 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts forecast that Magellan Midstream Partners will post 3.99 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th will be paid a $0.92 dividend. This is a boost from Magellan Midstream Partners’s previous dividend of $0.84. This represents a dividend yield of 0.0125170068027211%. The ex-dividend date is Monday, February 5th. Magellan Midstream Partners’s payout ratio is currently 96.59%.
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About Magellan Midstream Partners
Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.
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