The stock of Magellan Midstream Partners L.P. (NYSE:MMP) increased by $1.02 on Friday to finish at $65.33, up 1.59 percent. The last five days have seen an average of 1,112,240 shares of common stock traded. 18 times new highs were reached in the current year, with a gain of $15.12. The average number of shares traded over the last 20 days was 1,032,195, while the average volume over the last 50 days totaled 1,315,064.
MMP stock appreciated 0.54% since last month. On 08/08/23, the company’s shares reached a one-month low of $63.04. The stock touched a high of $66.78 on 07/27/23, after rallying from a low of $45.52 in 52 weeks. The price of MMP stock has risen by 30.11% or $15.12 this year, reaching a new high 18 times. Still, the stock price is down -2.16% 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 272 days ago on Nov 15. On Nov 15, Director MONTAGUE JAMES R sold 2,892 shares at $53.43 each. This transaction resulted in the insider making $154,524.
Valuation Metrics
Magellan Midstream Partners L.P. (MMP) has a trailing price-to-earnings (P/E) ratio of 13.04. Beta for the stock is 0.91. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.73, the price-to-book (PB) ratio of 7.73, and the price-to-cash flow ratio of 9.88.
Company paid $1.0475 per share in dividends, remained unchanged from $1.0475 last year. A $0.0005 dividend decrease was reported on Thursday April 27 2023.
Financial Health
For the three months ended June 29, Magellan Midstream Partners L.P.’s quick ratio was 0.60, while its current ratio was 1.10, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.91, and the total debt to equity ratio is 2.91. As far as profitability goes, gross margin for the trailing twelve months is 48.30% percent. Magellan Midstream Partners L.P.’s EBITDA margin for the year ended June 29 was 42.32%, whereas its operating margin stood at 36.60% for the same period. Based on annual data, it had gross profit of $2.08 billion and revenue of $3.2 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MMP’s return on assets (ROA) during the last 12 months has been 13.40%. There was a 16.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 60.30%.
Earnings Surprise
According to Magellan Midstream Partners L.P.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $877.2 million, while revenues rose by 10.1% to $869.7 million. It was predicted that Magellan Midstream Partners L.P.’s quarterly earnings would be $1.18, but it ended up being $1.11, beating the consensus by 6.30%. EBITDA was $352.2 million for the quarter. At the end of Magellan Midstream Partners L.P.’s most recent quarter ended June 29, its liabilities totaled 5.91 billion, while its total debt was $5.08 billion. Equity owned by shareholders amounts to $202.1 million.
Technical Picture
Here’s a quick look at Magellan Midstream Partners L.P.’s (MMP) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 59.24%, suggesting the stock is Neutral, with a 16.78% historical volatility rate.
The stochastic %K and %D were 38.55% and 25.91% respectively, while the average true range (ATR) was 0.96. Based on the 14-day stochastic reading of 61.31%, the RSI (14) reading is 59.02%. On the 9-day MACD Oscillator, the stock is at -0.12, and the 14-day reading is at -0.55.
Analyst Ratings
Magellan Midstream Partners L.P. (NYSE: MMP) was downgraded by Stifel to a a Hold rating in its latest research report. The stock was previously rated as a a Buy.
