Media stories about Magellan Midstream Partners (NYSE:MMP) have been trending somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources. Accern 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 earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news articles about the pipeline company an impact score of 45.9095635603759 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
- Analyzing Magellan Midstream Partners’ Commodity Exposure (finance.yahoo.com)
- Magellan Midstream Partners (MMP) Price Target Lowered to $69.00 at Barclays (americanbankingnews.com)
- MMP Expects an 11% Rise in Marine Storage Segment’s 2018 Earnings (finance.yahoo.com)
- Magellan Midstream Partners (MMP) Cut to Sell at BidaskClub (americanbankingnews.com)
- Magellan Midstream Partners (MMP) Expected to Announce Quarterly Sales of $649.63 Million (americanbankingnews.com)
Several brokerages recently issued reports on MMP. Barclays dropped their price target on Magellan Midstream Partners from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Mizuho reiterated a “sell” rating and set a $66.00 target price on shares of Magellan Midstream Partners in a research report on Wednesday, April 11th. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 target price on shares of Magellan Midstream Partners in a research report on Friday, February 2nd. JPMorgan Chase reiterated a “neutral” rating and set a $75.00 target price (down previously from $78.00) on shares of Magellan Midstream Partners in a research report on Tuesday, March 13th. Finally, Royal Bank of Canada upgraded Magellan Midstream Partners from a “sector perform” rating to an “outperform” rating and set a $79.00 target price on the stock in a research report on Monday, April 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Magellan Midstream Partners currently has an average rating of “Hold” and an average target price of $75.23.
Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, February 1st. The pipeline company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Magellan Midstream Partners had a return on equity of 40.85% and a net margin of 34.67%. 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 company earned $0.93 EPS. The business’s revenue was up 9.5% on a year-over-year basis. research analysts expect that Magellan Midstream Partners will post 4.02 EPS for the current fiscal year.
In other Magellan Midstream Partners news, CEO Michael N. Mears sold 22,251 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $68.03, for a total transaction of $1,513,735.53. Following the transaction, the chief executive officer now owns 196,473 shares of the company’s stock, valued at approximately $13,366,058.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael N. Mears sold 10,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $68.00, for a total value of $680,000.00. Following the transaction, the chief executive officer now directly owns 196,473 shares in the company, valued at approximately $13,360,164. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
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Magellan Midstream Partners Company Profile
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.
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