Magellan Midstream Partners L.P. (NYSE:MMP) – Research analysts at US Capital Advisors lowered their Q4 2016 earnings per share (EPS) estimates for Magellan Midstream Partners L.P. in a note issued to investors on Thursday. US Capital Advisors analyst J. Carreker now anticipates that the brokerage will post earnings of $0.91 per share for the quarter, down from their previous forecast of $0.92. US Capital Advisors also issued estimates for Magellan Midstream Partners L.P.’s Q1 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $3.59 EPS, Q2 2018 earnings at $0.93 EPS and FY2018 earnings at $3.71 EPS.
Magellan Midstream Partners L.P. (NYSE:MMP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The company earned $518.90 million during the quarter, compared to analyst estimates of $519.12 million. Magellan Midstream Partners L.P. had a net margin of 38.97% and a return on equity of 38.58%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS.
Several other equities analysts have also recently commented on MMP. JPMorgan Chase & Co. cut their target price on shares of Magellan Midstream Partners L.P. from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, May 16th. Vetr cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating and set a $69.00 target price for the company. in a research note on Tuesday, May 17th. Seaport Global Securities started coverage on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, June 14th. They set a “buy” rating and a $82.00 target price for the company. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Finally, Ladenburg Thalmann started coverage on shares of Magellan Midstream Partners L.P. in a research note on Wednesday, July 13th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $77.89.
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Shares of Magellan Midstream Partners L.P. (NYSE:MMP) opened at 70.66 on Monday. The stock has a 50 day moving average of $70.85 and a 200-day moving average of $70.75. Magellan Midstream Partners L.P. has a 52 week low of $54.51 and a 52 week high of $77.45. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 18.94 and a beta of 0.65.
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