Does Earnings Surprise History Hold Any Clue for Magellan Midstream Partners (NYSE:MMP)

Earnings results for Magellan Midstream Partners (NYSE:MMP)

Magellan Midstream Partners L.P. is expected* to report earnings on 04/29/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.87. The reported EPS for the same quarter last year was $1.28.

Magellan Midstream Partners last released its earnings results on February 2nd, 2021. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. The business had revenue of $586.30 million for the quarter, compared to the consensus estimate of $643.24 million. Its revenue for the quarter was down 20.8% compared to the same quarter last year. Magellan Midstream Partners has generated $4.76 earnings per share over the last year and currently has a price-to-earnings ratio of 11.6. Magellan Midstream Partners has confirmed that its next quarterly earnings report will be published on Thursday, April 29th, 2021.

Analyst Opinion on Magellan Midstream Partners (NYSE:MMP)

19 Wall Street analysts have issued ratings and price targets for Magellan Midstream Partners in the last 12 months. Their average twelve-month price target is $48.47, predicting that the stock has a possible upside of 3.11%. The high price target for MMP is $58.00 and the low price target for MMP is $42.00. There are currently 1 sell rating, 10 hold ratings and 8 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Magellan Midstream Partners has received a consensus rating of Hold. The company’s average rating score is 2.44, and is based on 8 buy ratings, 10 hold ratings, and no sell ratings. According to analysts’ consensus price target of $48.47, Magellan Midstream Partners has a forecasted upside of 3.1% from its current price of $47.01. Magellan Midstream Partners has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Magellan Midstream Partners (NYSE:MMP)

Magellan Midstream Partners is a leading dividend payer. It pays a dividend yield of 8.87%, putting its dividend yield in the top 25% of dividend-paying stocks. Magellan Midstream Partners has only been increasing its dividend for 1 years. The dividend payout ratio of Magellan Midstream Partners is 86.34%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, Magellan Midstream Partners will have a dividend payout ratio of 105.12% in the coming year. This indicates that Magellan Midstream Partners may not be able to sustain their current dividend.

Insiders buying/selling: Magellan Midstream Partners (NYSE:MMP)

In the past three months, Magellan Midstream Partners insiders have not sold or bought any company stock. Only 0.29% of the stock of Magellan Midstream Partners is held by insiders. 61.96% of the stock of Magellan Midstream Partners is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Magellan Midstream Partners (NYSE:MMP

Earnings for Magellan Midstream Partners are expected to grow by 4.55% in the coming year, from $3.74 to $3.91 per share. The P/E ratio of Magellan Midstream Partners is 11.64, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.89. The P/E ratio of Magellan Midstream Partners is 11.64, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 25.01. Magellan Midstream Partners has a P/B Ratio of 3.95. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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