Last Week, Magellan Midstream Partners L.P. (MMP) Recorded A Gain Of $50.68


As of Friday close, Magellan Midstream Partners L.P.’s (NYSE:MMP) stock was down -$0.06, moving down -0.11 percent to $52.60. The average number of shares traded per day over the past five days has been 1,518,680 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.44 fall in that time frame. In the last twenty days, the average volume was 952,300, while in the previous 50 days, it was 876,244.

Since last month, MMP stock retreated -2.01%. Shares of the company fell to $51.56 on 03/17/23, the lowest level in the past month. A 52-week high of $60.55 was reached on 01/24/23 after having rallying from a 52-week low of $44.79. Since the beginning of this year, MMP’s stock price has risen by 4.76% or $2.39, and marked a new high 10 times. However, the stock has declined by -13.13% since its 52-week high.

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MMP stock investors should be aware that Magellan Midstream Partners L.P. (MMP) stock had its last reported insider trading activity 123 days ago on Nov 15. MONTAGUE JAMES R, the Director of the company, disposed of 2,892 shares for $53.43 on Nov 15. It resulted in a $154,524 divestment by the insider.

Valuation Metrics

Right now, Magellan Midstream Partners L.P. (MMP) has a P/E ratio of about 12.79. The stock’s beta is 0.91. Besides these, the trailing price-to-sales (P/S) ratio of 3.34, the price-to-book (PB) ratio of 6.41, and the price-to-cash flow ratio of 111.26 may also be considered.

The latest dividend of $1.0480 per share was paid out, which is 0.05% more than last year’s $1.0475. On Tuesday January 24 2023, a $0.0005 dividend increase was announced.

Financial Health

In the three months ended December 30, Magellan Midstream Partners L.P.’s quick ratio stood at 0.50, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending December 30 was 2.98, and the total debt-to-equity ratio was 2.98. On the profitability front, the trailing twelve-month gross margin is 46.50% percent. In the year ended December 30, operating margins totaled 34.60%. Based on annual data, MMP earned $2.08 billion in gross profit and brought in $3.2 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 16.50%. Return on equity (ROE) for the past 12 months was 59.20%.

In Magellan Midstream Partners L.P.’s quarter-end financial report for December 30, it reported total debt of $5.01 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MMP’s revenue rose 9.49% to $876.1 million during the quarter, while net income inched up to $861.0 million. While analysts expected Magellan Midstream Partners L.P. to report $1.29 quarterly earnings, the actual figure was $0.91 per share, beating the consensus estimate by -29.50%. During the quarter, the company generated $370.1 million in EBITDA. The liabilities of Magellan Midstream Partners L.P. were 6.02 billion at the end of its most recent quarter ended December 30, and its total debt was $5.16 billion. The value of shareholders’ equity is $203.29 million.

Technical Picture

This quick technical analysis looks at Magellan Midstream Partners L.P.’s (MMP) price momentum. With a historical volatility rate of 13.84%, the RSI 9-day stood at 42.83% on 17 March.

With respect to its five-day moving average, the current Magellan Midstream Partners L.P. price is down by -0.83% percent or -$0.44. At present, MMP shares trade -2.07% below its 20-day simple moving average and +4.16% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.08% above its SMA50 and +1.74% above its SMA200.

Stochastic coefficient K was 25.41% and Stochastic coefficient D was 27.78%, while ATR was 1.12. Given the Stochastic reading of 31.99% for the 14-day period, the RSI (14) reading has been calculated as 45.19%. As of today, the MACD Oscillator reading stands at -0.46, while the 14-day reading stands at -0.69.

Analyst Ratings

Barclays upgraded its rating on Magellan Midstream Partners L.P. (NYSE: MMP) to an Overweight in a note to investors on January 18, 2023. The analysts firm previously had an Equal weight rating on the stock.Magellan Midstream Partners L.P. (MMP) has been rated Overweight by analysts. According to 2 brokerage firms, MMP is a sell, and 6 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 3 analysts rate Magellan Midstream Partners L.P. stock as buy, with 6 recommending it as overweight.

With a median target price of $58.00, the current consensus forecast for the stock is $51.00 – $64.00. Based on these forecasts, analysts predict Magellan Midstream Partners L.P. (MMP) will achieve an average price target of $58.13.


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