Magellan Midstream Partners MMP Stock Price, News & Info The Motley Fool

According to the issued ratings of 12 analysts in the last year, the consensus rating for Magellan Midstream Partners stock is Reduce based on the current 3 sell ratings, 8 hold ratings and 1 buy rating for MMP. The average twelve-month price prediction for Magellan Midstream Partners is $60.70 with a high price target of $69.00 and a low price target of $49.00. Part of the reason Enbridge has underperformed the midstream industry as a whole may be due to its concentration in Canada. Enbridge, TC Energy, and Pembina Pipeline — three Canadian pipeline giants, have drastically underperformed their peers over the last three years.

As both supply and demand are remarkably steady over time, Magellan has been able to extract modest inflation-linked price increases, which also serves as strong protection against any future volume declines. However, investment opportunities have been more limited in the refined products segment. Magellan Midstream Partners is a master limited partnership that operates pipelines and storage terminals in the Central and Eastern United States. Its assets transport, store, and distribute refined petroleum products and crude and earn a fee-based stream of cash flows. Assets include the country’s longest petroleum pipeline network and several crude oil pipelines. Refined products make about 70% of operating margin, with the remainder mainly crude-oil pipelines.

Magellan Midstream Files Investor Presentation Highlighting Benefits of Pending ONEOK Transaction

Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. The oil and gas industry is split into three subcategories — upstream (exploration and production), midstream (pipelines and storage), and downstream (refining and marketing).

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. MMP’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Magellan’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable U.S. tax rate plus an additional 10%.

Sign-up to receive the latest news and ratings for MMP and its competitors with MarketBeat’s FREE daily newsletter. Magellan Midstream Partners’s most recent quarterly dividend payment of $1.0475 per share was made to shareholders on Monday, August 14, 2023. Magellan Midstream Partners’s next quarterly dividend payment of $0.2470 per share will be made to shareholders on Monday, September 25, 2023. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Yahoo Finance live anchors Brad Smith and Rachelle Akuffo spoke with Magellan Midstream CEO Aaron Milford about his $18.8 billion merger of natural gas operator ONEOK.

A bold bet on oil and natural gas

The Magellan/Oneok merger is facing unitholder pushback, and the downside risk is potentially huge. Magellan Midstream Partners President and CEO Aaron Milford discusses the rationale for combining with Oneok, the tax implications of the deal and the outlook for industry consolidation with Romaine B… Recent regulatory filings from ONEOK (OKE) and Magellan Midstream Partners, LP (MMP) provide insight into the expected deal synergies.

• Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.
• Michael N. Mears has an approval rating of 85% among the company’s employees.
• Analysts like Magellan Midstream Partners less than other Oils/Energy companies.
• The future of natural gas is through North America and exports.
• According to the issued ratings of 12 analysts in the last year, the consensus rating for Magellan Midstream Partners stock is Reduce based on the current 3 sell ratings, 8 hold ratings and 1 buy rating for MMP.
• But Enbridge’s 7.9% dividend yield is reason alone to own the stock.

As Energy Transfer expands its shale footprint with a key acquisition, investors should take note of the healthy dividend yield, and consider buying this energy stock on the dip. Pipeline operator Magellan Midstream Partners said on Thursday it expects exports of U.S. crude and refined products ask meaning in share market to grow on increasing global demand for U.S. energy. Magellan Midstream Partners issued an update on its FY 2023 earnings guidance on Thursday, August, 3rd. The company provided earnings per share (EPS) guidance of $5.05-$5.05 for the period, compared to the consensus estimate of $4.56.

Earnings Transcripts

Magellan Midstream Partners declared a None dividend on Monday, September 11th. Shareholders of record on Thursday, September 21st will be given a dividend of $0.247 per share on Monday, September 25th. The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style.

The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. We’d like to share more about how we work and what drives our day-to-day business.

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Upgrade to MarketBeat All Access to add more stocks to your watchlist. 27 employees have rated Magellan Midstream Partners Chief Executive Officer Michael N. Mears on Glassdoor.com. Michael N. Mears has an approval rating of 85% among the company’s employees. MarketRank is calculated as an average of available category https://1investing.in/ scores, with extra weight given to analysis and valuation. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%.

Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated. According to analysts, Magellan Midstream Partners’s stock has a predicted upside of 6.77% based on their 12-month price targets. Enter your email address below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter.

The sell-off pole-vaulted Enbridge’s dividend yield to 7.9%, making it an intriguing high-yield dividend stock. Let’s look at the impact of the deal, what it means for Enbridge, and if the stock is worth buying now. Copies of documents filed with the SEC by Magellan, including the joint proxy statement/prospectus, are available free of charge from Magellan’s website at under the “Investors” tab. Canadian pipeline giant, Enbridge (ENB 2.91%), dropped big news on Sept. 5 when it announced the $14 billion acquisition (including debt) of three natural gas utilities from Dominion Energy (D 1.59%). The deal makes Enbridge North America’s largest natural gas utility franchise. Magellan investors are encouraged to visit for additional information about our pending merger, including transaction benefits, tax considerations and unitholder voting instructions in advance of our Sept. 21 virtual special meeting.

Pipeline operator Magellan sees U.S. crude, fuel exports rising

But Enbridge’s 7.9% dividend yield is reason alone to own the stock. And given how far the stock has fallen and how out of favor the midstream industry is, now looks like a great time to take a closer look at Enbridge. Enter your email address below to receive the DividendStocks.com newsletter, a daily email that contains dividend stock ideas, ex-dividend stocks, and the latest dividend investing news.

Add it all up, and it’s not too surprising to see extreme underperformance from companies like Enbridge in recent years. There are some companies that are diversifying their businesses by selling fossil fuel assets and investing in renewable energy. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year.

Engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It also provides pipeline capacity and tank storage services, as well as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers. Was incorporated in 2000 and is headquartered in Tulsa, Oklahoma. Magellan’s refined product pipelines are high-quality assets that have contributed to earnings stability as well as steady increases in distributions over time. The pipelines connect refineries to end markets such as gas stations and railroads.

Over the past three years, the company’s dividend has grown by an average of 1.02% per year. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. That’s why investors should take a close look at this high-yield energy player. One share of MMP stock can currently be purchased for approximately $69.19.

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Over the previous 90 days, Magellan Midstream Partners’s stock had 1 downgrade by analysts. The most recent change in the company’s dividend was a decrease of $0.8005 on Monday, September 11, 2023.

In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season.

Enbridge moves about 20% of all natural gas consumed in the U.S. and serves around 15% of U.S. So assuming Enbridge is just a Canadian pipeline player and overlooking its U.S. assets would be a mistake. The future of natural gas is through North America and exports. But without a doubt, as you see population growth and you see sustainability and you see the need for that consumer choice, we’re going to do all of those things. Analysts like Magellan Midstream Partners less than other Oils/Energy companies. The consensus rating for Magellan Midstream Partners is Reduce while the average consensus rating for oils/energy companies is Moderate Buy.

Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. According to 10 analysts, the average rating for MMP stock is “Hold.” The 12-month stock price forecast is $59.13, which is a decrease of -14.65% from the latest price. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

Last modified: Settembre 19, 2023