Magellan Midstream Partners L.P. (NYSE:MMP) finished Wednesday with an addition of $0.25 to close at $63.80, an upside of 0.39 percent. An average of 1,283,240 shares of common stock have been traded in the last five days. There was a fall of -$1.26 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 1,076,815 shares traded, while the 50-day average volume stands at 1,363,330.
MMP stock has increased by 0.55% in the last month. The company shares reached their 1-month lowest point of $62.48 on 07/10/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $45.52 and a high of $66.78 in 52 weeks. It has reached a new high 18 times so far this year and achieved 27.07% or $13.59 in price. In spite of this, the price is down -4.46% from the 52-week high.
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Insider Transactions
MMP stock investors should be aware that Magellan Midstream Partners L.P. (MMP) stock had its last reported insider trading activity 268 days ago on Nov 15.
Valuation Metrics
Magellan Midstream Partners L.P. (MMP) has a trailing price-to-earnings (P/E) ratio of 13.59. The stock’s beta is 0.92. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.88, the price-to-book (PB) ratio at 7.55, and the price-to-cash flow ratio at 28.57.
The company has a payout ratio of 83.30%. The company’s most recent quarterly dividend payment was $1.0475 a share, without any change from last year. Its latest decrease dividend $0.0005 reported on Thursday April 27 2023.
Financial Health
The quick ratio of Magellan Midstream Partners L.P. for the recent quarter was 0.60, and the current ratio was 1.10, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.91 and a total debt to equity ratio of 2.91 for the recent quarter. Magellan Midstream Partners L.P.’s EBITDA margin is 42.32%, while its operating margin for the same period stands at 37.50%. Its gross profit as reported stood at $2.08 billion compared to revenue of $3.2 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Magellan Midstream Partners L.P.’s return on assets was 13.40%.
Earnings Surprise
For the recent quarter, Magellan Midstream Partners L.P. had $4.98 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $238.7 million in the quarter, while revenues of $273.9 million were shrunk -48.26%. At the end of the recent quarter, Magellan Midstream Partners L.P.’s stock balance sheet showed total liabilities of 5.91 billion. Shareholders own equity worth $202.1 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Magellan Midstream Partners L.P. (MMP) price momentum. RSI 9-day as of the close on 09 August was 39.83%, suggesting the stock is Neutral, with historical volatility in this time frame at 13.56%.
As of today, MMP’s price is $64.19 -1.94% or -$1.26 from its 5-day moving average. MMP is currently trading -0.31% lower than its 20-day SMA and +21.15% higher than its 100-day SMA. However, the stock’s current price level is +4.32% above the SMA50 and +28.47% above the SMA200.
The stochastic %K and %D were 16.50% and 20.13%, respectively, and the average true range (ATR) was 0.94. With the 14-day stochastic at 20.35% and the average true range at 0.94, the RSI (14) stands at 47.69%. The stock has reached -1.07 on the 9-day MACD Oscillator while the 14-day reading was at -1.33.
Analyst Ratings
Stifel downgraded Magellan Midstream Partners L.P. (NYSE: MMP) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Magellan Midstream Partners L.P. (MMP) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell MMP, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.
What is MMP’s price target for the next 12 months?
Analysts predict a range of price targets between $56.00 and $70.00, with a median target of $65.00. Taking a look at these predictions, the average price target given by analysts for Magellan Midstream Partners L.P. (MMP) stock is $65.10.
