Magellan Midstream Partners L.P. (MMP): These Numbers Show Where NYSE:MMP Stock Is Going Next

Magellan Midstream Partners L.P. (NYSE: MMP) is 0.33% higher on its value in year-to-date trading and has touched a low of $22.02 and a high of $60.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MMP stock was last observed hovering at around $41.49 in the last trading session, with the day’s gains setting it 1.09% off its average median price target of $48.50 for the next 12 months. It is also 33.47% off the consensus price target high of $64.00 offered by 22 analysts, but current levels are -9.18% lower than the price target low of $39.00 for the same period.

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Currently trading at $42.58, the stock is 0.18% and -2.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.27 million and changing 2.63% at the moment leaves the stock 3.31% off its SMA200. MMP registered -29.56% loss for a year compared to 6-month gain of 4.16%. The firm has a 50-day simple moving average (SMA 50) of $43.55 and a 200-day simple moving average (SMA200) of $40.28.

The stock witnessed a -8.19% loss in the last 1 month and extending the period to 3 months gives it a 4.36%, and is 2.13% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.05% over the week and 3.14% over the month.

Magellan Midstream Partners L.P. (MMP) has around 1720 employees, a market worth around $9.26B and $2.43B in sales. Current P/E ratio is 11.77 and Fwd P/E is 10.33. Profit margin for the company is 33.70%. Distance from 52-week low is 93.37% and -30.17% from its 52-week high. The company has generated returns on investments over the last 12 months (14.00%).

Magellan Midstream Partners L.P. (MMP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Magellan Midstream Partners L.P. (MMP) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 2.40, where 7 rate it as a Hold and 3 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Magellan Midstream Partners L.P. is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.89 with sales reaching $663.89M over the same period.The EPS is expected to shrink by -18.80% this year, but quarterly earnings will post 3.40% year-over-year. Quarterly sales are estimated to shrink -15.20% in year-over-year returns.

Magellan Midstream Partners L.P. (MMP) Top Institutional Holders

588 institutions hold shares in Magellan Midstream Partners L.P. (MMP), with 656.45k shares held by insiders accounting for 0.29% while institutional investors hold 64.94% of the company’s shares. The shares outstanding are 223.88M, and float is at 223.56M with Short Float at 3.09%. Institutions hold 64.75% of the Float.

The top institutional shareholder in the company is Invesco Ltd. with over 10.51 million shares valued at $446.21 million. The investor’s holdings represent 4.70% of the MMP Shares outstanding. As of Dec 30, 2020, the second largest holder is Alps Advisors Inc. with 10.06 million shares valued at $427.11 million to account for 4.50% of the shares outstanding. The other top investors are Blackstone Group Inc. which holds 9.49 million shares representing 4.24% and valued at over $402.71 million, while Tortoise Capital Advisors, LLC holds 3.95% of the shares totaling 8.84 million with a market value of $375.17 million.

Magellan Midstream Partners L.P. (MMP) Insider Activity

A total of 23 insider transactions have happened at Magellan Midstream Partners L.P. (MMP) in the last six months, with sales accounting for 9 and purchases happening 14 times. The most recent transaction is an insider purchase by Joung Chansoo, the company’s Director. SEC filings show that Joung Chansoo bought 20,000 shares of the company’s common stock on Nov 05 at a price of $35.32 per share for a total of $0.71 million. Following the purchase, the insider now owns 40280.0 shares.

Magellan Midstream Partners L.P. disclosed in a document filed with the SEC on May 08 that Joung Chansoo (Director) bought a total of 13,370 shares of the company’s common stock. The trade occurred on May 08 and was made at $42.11 per share for $0.56 million. Following the transaction, the insider now directly holds 20280.0 shares of the MMP stock.

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Magellan Midstream Partners L.P. (MMP): Who are the competitors?

The company’s main competitors (and peers) include Phillips 66 Partners LP (PSXP) that is trading -57.61% down over the past 12 months. Holly Energy Partners L.P. (HEP) is -31.97% down on the 1-year trading charts. Short interest in the company’s stock has fallen -8.84% from the last report on Dec 30, 2020 to stand at a total of 7.51 million short shares sold with a short interest ratio of 5.89.

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