News stories about Magellan Midstream Partners L.P. (NYSE:MMP) have trended somewhat positive this week, according to AlphaOne Sentiment. AlphaOne, a subsidiary of Accern, scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Magellan Midstream Partners L.P. earned a media sentiment score of 0.18 on AlphaOne’s scale. AlphaOne also gave media headlines about the pipeline company an impact score of 43 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted AlphaOne Sentiment’s scoring:
- Judge’s DAPL Ruling, Reckless Spill Record Pushes Pipeline Company’s Shares Below $20 for First Time – EcoWatch (ecowatch.com)
- Magellan Midstream Partners LP (MMP) Shares Needle Moving 0.32% – Stock Press Daily (stockpressdaily.com)
- Homrich & Berg Has $5.64 Million Stake in Magellan Midstream Partners LP (MMP) (theaviationweek.net)
- How Sustainable Is Targa Resources Corp.'s 8% Dividend? (finance.yahoo.com)
- Investor Update: Company Share Focus for Magellan Midstream Partners LP (NYSE:MMP) – Jonesboro Recorder (jonesbororecorder.com)
A number of analysts recently issued reports on MMP shares. Citigroup Inc. downgraded shares of Magellan Midstream Partners L.P. from a “buy” rating to a “neutral” rating in a report on Monday, March 6th. Royal Bank of Canada restated a “hold” rating and set a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a research report on Tuesday, March 14th. UBS AG restated a “neutral” rating and set a $82.00 price objective (up from $81.00) on shares of Magellan Midstream Partners L.P. in a research report on Thursday, March 23rd. Macquarie began coverage on shares of Magellan Midstream Partners L.P. in a research report on Friday, April 21st. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Magellan Midstream Partners L.P. presently has an average rating of “Hold” and an average target price of $79.40.
Magellan Midstream Partners L.P. (NYSE:MMP) traded up 0.88% during midday trading on Friday, reaching $69.83. 1,227,441 shares of the company traded hands. The company’s 50-day moving average price is $72.97 and its 200 day moving average price is $75.41. Magellan Midstream Partners L.P. has a 12 month low of $64.25 and a 12 month high of $81.77. The firm has a market capitalization of $15.92 billion, a PE ratio of 19.45 and a beta of 0.79.
Magellan Midstream Partners L.P. (NYSE:MMP) last announced its earnings results on Wednesday, May 3rd. The pipeline company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. Magellan Midstream Partners L.P. had a net margin of 35.16% and a return on equity of 41.17%. The firm had revenue of $519.80 million during the quarter, compared to the consensus estimate of $554.22 million. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. On average, equities analysts anticipate that Magellan Midstream Partners L.P. will post $3.89 earnings per share for the current year.
In related news, insider Douglas J. May sold 8,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $75.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now owns 27,599 shares of the company’s stock, valued at approximately $2,069,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.
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About Magellan Midstream Partners L.P.
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