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

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Earnings results for Magellan Midstream Partners (NYSE:MMP)

Magellan Midstream Partners L.P. is expected* to report earnings on 07/29/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.95. The reported EPS for the same quarter last year was $0.65.

Magellan Midstream Partners last announced its quarterly earnings data on April 29th, 2021. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.22. The business earned $661 million during the quarter, compared to analyst estimates of $661.52 million. Its revenue for the quarter was down 15.6% on a year-over-year basis. Magellan Midstream Partners has generated $3.84 earnings per share over the last year and currently has a price-to-earnings ratio of 14.3. Magellan Midstream Partners has confirmed that its next quarterly earnings report will be published on Thursday, July 29th, 2021. Magellan Midstream Partners will be holding an earnings conference call on Thursday, July 29th at 1:30 PM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Magellan Midstream Partners (NYSE:MMP)

16 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 $48.50, predicting that the stock has a possible upside of 1.81%. The high price target for MMP is $54.00 and the low price target for MMP is $42.00. There are currently 1 sell rating, 11 hold ratings and 4 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 2.27, and is based on 4 buy ratings, 11 hold ratings, and no sell ratings. According to analysts’ consensus price target of $48.50, Magellan Midstream Partners has a forecasted upside of 1.8% from its current price of $47.64. Magellan Midstream Partners has only been the subject of 4 research reports in the past 90 days.

Dividend Strength: Magellan Midstream Partners (NYSE:MMP)

Magellan Midstream Partners is a leading dividend payer. It pays a dividend yield of 8.65%, 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 107.03%. 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 99.04% 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 sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $476,200.00 in company stock. Only 0.33% of the stock of Magellan Midstream Partners is held by insiders. 59.56% 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 6.96% in the coming year, from $3.88 to $4.15 per share. The P/E ratio of Magellan Midstream Partners is 14.26, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 22.51. The P/E ratio of Magellan Midstream Partners is 14.26, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 20.94. Magellan Midstream Partners has a P/B Ratio of 4.63. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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