|Bid||65.54 x 100|
|Ask||65.60 x 100|
|Day's Range||65.31 - 66.15|
|52 Week Range||54.82 - 76.56|
|PE Ratio (TTM)||17.20|
|Earnings Date||May 3, 2018|
|Forward Dividend & Yield||3.68 (5.90%)|
|1y Target Est||74.00|
On April 11, 2018, Mizuho cut Magellan Midstream Partners’ (MMP) price target from $72 to $66. On the same day, Ladenburg Thalmann cut MMP’s price target from $87 to $78. Analysts’ mean price target for Magellan Midstream is $74.
Short interest as a percentage of float in Magellan Midstream Partners (MMP) is currently ~1.9% compared to 1.4% in mid-March 2018. According to the data released on April 10, 2018, Magellan Midstream Partners’ total shares shorted stood at ~4.2 million on March 29, 2018, 29.5% higher than its ~3.3 million shares shorted on March 15.
ALPS Advisors, Tortoise Capital Advisors, and Goldman Sachs Asset Management are the three largest institutional investors in Magellan Midstream Partners (MMP). These investors hold 6.5%, 6.2%, and 3.7%, respectively, of MMP’s outstanding shares.
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Magellan Midstream Partners (MMP) expects to spend ~$1.3 billion in 2018–2019 on capital projects that are currently in various stages of development. These are primarily related to MMP’s Refined Products and Marine Storage operations.
Magellan Midstream Partners (MMP) has limited direct commodity price exposure. The company intends to focus on fee-based earnings because these tend to be more stable. However, it also wants to opportunistically grow its commodity activities.
Magellan Midstream Partners (MMP) expects its 2018 DCF (distributable cash flow) to be $1.1 billion—2.8% higher than its 2017 DCF. Its DCF rose 7.8% in 2017.
Nearly one-third of Magellan Midstream Partners’ (MMP) 2017 operating income was generated by its Crude Oil segment. The segment’s assets include 2,200 miles of crude oil pipelines and 28 million barrels of crude oil storage capacity. Magellan Midstream expects the segment’s 2018 operating income to rise 10% over 2017.
Magellan Midstream Partners (MMP) expects its Marine Storage segment’s operating income to rise 11% to $132 million in 2018. The segment has five storage facilities with storage capacity of 26 million barrels and 1.4 million bpd (barrels per day) of dock capacity. The segment’s storage utilization rates have historically been higher than 90%.
Magellan Midstream Partners (MMP) expects its Refined Products segment’s operating income to rise 1.7% to $851 million in 2018 from $837 million in 2017. The segment generated nearly 60% of MMP’s operating income in 2017.
Magellan Midstream Partners (MMP) stock has fallen nearly 11% so far in 2018. It’s underperformed its peers Enterprise Products Partners (EPD) and Plains All American Pipeline (PAA) during this period.
Master Limited Partnerships in the energy sector are the classic value investment case of an industry with good fundamentals that is disliked by the investing public. Tim Plaehn, editor of The Dividend Hunter, explores why investors may be interested. He’s a frequent MoneyShow.com contributor.
TULSA, Okla. , April 12, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) plans to announce financial results for first quarter 2018 before the market opens on Thurs., May 3 . Management ...
Magellan Midstream Partners (MMP) continues to trade significantly below its 50-day and 200-day moving average, which might indicate bearish sentiment in the stock. Magellan Midstream Partners was trading 5.8% below its 50-day simple moving average and 11.1% below its 200-day simple moving average as of April 6, 2018.
The Alerian MLP ETF (AMLP), which is comprised of 25 energy MLPs, continued to see strong inflows despite recent volatility in the midstream energy sector. Last week, AMLP saw the highest weekly inflow in 2018. AMLP saw an inflow of $161.8 million funds. AMLP has seen a net inflow of $293.4 million in the past three weeks. AMLP’s strong inflows despite recent volatility could be attributed to MLPs’ attractive valuations.
SunCoke Energy Partners (SXCP), an MLP involved in the production of coke used in steelmaking, saw new analyst coverage last week. Seaport Global Securities initiated coverage on SunCoke Energy Partners with a “buy” rating and assigned a target price of $21. Previously, SunCoke Energy Partners saw a rating update in November 2016. Now, 50.0% of the analysts’ surveyed by Reuters rate SunCoke Energy Partners as a “buy” and 50% rate it as a “hold.” SunCoke Energy Partners is trading below the low range ($17.9) of analysts’ target price. SunCoke Energy Partners’ average target price of $21. ...
Kinder Morgan (KMI) is currently trading at a forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of ~9.6x. That’s lower than its five-year average multiple of ~13.5x. Its current multiple is among the lowest in the last five years.
Jim Cramer sits down with Magellan Midstream Partners Chairman and CEO Mike Mears, who pushes back on recent weakness in the pipeline stocks.