As of Friday close, Magellan Midstream Partners L.P.’s (NYSE:MMP) stock was up $0.46, moving up 0.67 percent to $69.00. The average number of shares traded per day over the past five days has been 9,453,340 shares. 5 times new highs have been achieved over the past 5 days, with a $0.77 gain in that time frame. In the last twenty days, the average volume was 3,452,885, while in the previous 50 days, it was 1,946,800.
Since last month, MMP stock rose 5.21%. Shares of the company fell to $64.61 on 09/07/23, the lowest level in the past month. A 52-week high of $69.58 was reached on 09/22/23 after having rallying from a 52-week low of $45.36. Since the beginning of this year, MMP’s stock price has risen by 37.92% or $18.79, and marked a new high 26 times. However, the stock has declined by -0.83% 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 312 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 13.77. The stock’s beta is 0.89. Besides these, the trailing price-to-sales (P/S) ratio of 4.06, the price-to-book (PB) ratio of 8.17, and the price-to-cash flow ratio of 10.76 may also be considered.
The latest dividend of $0.2470 per share was paid out, which is -76.42% less than last year’s $1.0475. On Monday September 11 2023, a $0.8005 dividend decrease was announced.
Financial Health
In the three months ended June 29, Magellan Midstream Partners L.P.’s quick ratio stood at 0.60, while its current ratio was 1.10, 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 June 29 was 2.91, and the total debt-to-equity ratio was 2.91. On the profitability front, the trailing twelve-month gross margin is 48.30% percent. In the year ended June 29, EBITDA margin amounted to 42.32%, whereas operating margins totaled 36.60%. 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 60.30%.
In Magellan Midstream Partners L.P.’s quarter-end financial report for June 29, it reported total debt of $4.98 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MMP’s revenue rose 10.1% to $869.7 million during the quarter, while net income inched up to $877.2 million. While analysts expected Magellan Midstream Partners L.P. to report $1.11 quarterly earnings, the actual figure was $1.18 per share, beating the consensus estimate by 6.30%. During the quarter, the company generated $352.2 million in EBITDA. The liabilities of Magellan Midstream Partners L.P. were 5.91 billion at the end of its most recent quarter ended June 29, and its total debt was $5.08 billion. The value of shareholders’ equity is $202.1 million.
Technical Picture
This quick technical analysis looks at Magellan Midstream Partners L.P.’s (MMP) price momentum. With a historical volatility rate of 16.13%, the RSI 9-day stood at 65.37% on 22 September.
With respect to its five-day moving average, the current Magellan Midstream Partners L.P. price is up by +1.13% percent or $0.77. At present, MMP shares trade +5.47% above its 20-day simple moving average and +23.41% percent above its 100-day simple moving average. However, the stock is currently trading approximately +6.19% above its SMA50 and +33.59% above its SMA200.
Stochastic coefficient K was 84.67% and Stochastic coefficient D was 86.69%, while ATR was 1.16. Given the Stochastic reading of 82.99% for the 14-day period, the RSI (14) reading has been calculated as 64.85%. As of today, the MACD Oscillator reading stands at 0.24, while the 14-day reading stands at 1.12.
Analyst Ratings
Magellan Midstream Partners L.P. downgraded its rating on Magellan Midstream Partners L.P. (NYSE: MMP) to a Sell in a note to investors on August 16, 2023. The analysts firm previously had a Hold rating on the stock.Magellan Midstream Partners L.P. (MMP) has been rated Hold by analysts. According to 1 brokerage firm, MMP is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Magellan Midstream Partners L.P. stock as buy, with 1 recommending it as overweight.
With a median target price of $66.00, the current consensus forecast for the stock is $56.00 – $69.00. Based on these forecasts, analysts predict Magellan Midstream Partners L.P. (MMP) will achieve an average price target of $64.88.
