Magellan Midstream Partners (MMP) Receiving Somewhat Favorable Media Coverage, Study Finds

Headlines about Magellan Midstream Partners (NYSE:MMP) have been trending somewhat positive on Friday, Accern Sentiment Analysis reports. The research firm identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Magellan Midstream Partners earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave media headlines about the pipeline company an impact score of 47.3083569515229 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the media headlines that may have effected Accern’s rankings:

A number of research firms have weighed in on MMP. Royal Bank of Canada restated a “hold” rating and set a $81.00 target price on shares of Magellan Midstream Partners in a report on Tuesday. Bank of America initiated coverage on Magellan Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating for the company. Credit Suisse Group initiated coverage on Magellan Midstream Partners in a report on Thursday, January 4th. They set an “underperform” rating for the company. BMO Capital Markets initiated coverage on Magellan Midstream Partners in a report on Monday, December 11th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Mizuho reiterated a “sell” rating and set a $72.00 price objective on shares of Magellan Midstream Partners in a report on Friday, October 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.51.

Shares of Magellan Midstream Partners (MMP) traded up $0.92 on Friday, hitting $73.75. The stock had a trading volume of 578,840 shares, compared to its average volume of 876,746. Magellan Midstream Partners has a 12-month low of $63.55 and a 12-month high of $81.77. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. The stock has a market cap of $16,820.00, a price-to-earnings ratio of 19.93, a PEG ratio of 2.36 and a beta of 0.77.

Magellan Midstream Partners (NYSE:MMP) last issued its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.95 by $0.02. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The firm had revenue of $551.80 million during the quarter, compared to analyst estimates of $610.12 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. research analysts forecast that Magellan Midstream Partners will post 3.87 earnings per share for the current fiscal year.

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About Magellan Midstream Partners

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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