Magellan Midstream Partners L.P. [NYSE: MMP] closed the trading session at $40.70 on 08/07/20. The day’s price range saw the stock hit a low of $40.00, while the highest price level was $40.89. The company report on July 30, 2020 that Magellan Midstream Reports Second-Quarter 2020 Financial Results.
Estimates Annual Distributable Cash Flow Range of $1.0 to $1.05 Billion for 2020.
Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $133.8 million for second quarter 2020 compared to $253.7 million for second quarter 2019. The decrease in second-quarter 2020 net income was primarily driven by reduced demand for refined products due to travel and economic restrictions related to COVID-19 and the negative impact of the lower commodity price environment on various aspects of the partnership’s business.
The stocks have a year to date performance of -35.26 percent and weekly performance of 0.52 percent. The stock has been moved at -31.37 percent over the last six months. The stock has performed 0.77 percent around the most recent 30 days and changed -5.24 percent over the most recent 3-months.
If compared to the average trading volume of 1.24M shares, MMP reached to a volume of 1295721 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Magellan Midstream Partners L.P. [MMP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMP shares is $51.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Securities have made an estimate for Magellan Midstream Partners L.P. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 30, 2020. The new note on the price target was released on June 09, 2020, representing the official price target for Magellan Midstream Partners L.P. stock. Previously, the target price had yet another drop from $66 to $56, while Jefferies kept a Buy rating on MMP stock. On April 02, 2020, analysts decreased their price target for MMP shares from 53 to 42.
The Average True Range (ATR) for Magellan Midstream Partners L.P. is set at 1.35, with the Price to Sales ratio for MMP stock in the period of the last 12 months amounting to 3.44. The Price to Book ratio for the last quarter was 3.74, with the Price to Cash per share for the same quarter was set at 0.01.
MMP stock trade performance evaluation
Magellan Midstream Partners L.P. [MMP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.52. With this latest performance, MMP shares gained by 0.77% in over the last four-week period, additionally sinking by -31.37% over the last 6 months – not to mention a drop of -36.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MMP stock in for the last two-week period is set at 42.06, with the RSI for the last a single of trading hit 42.70, and the three-weeks RSI is set at 44.71 for Magellan Midstream Partners L.P. [MMP]. The present Moving Average for the last 50 days of trading for this stock 43.12, while it was recorded at 40.61 for the last single week of trading, and 50.30 for the last 200 days.
Magellan Midstream Partners L.P. [MMP]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Magellan Midstream Partners L.P. [MMP] shares currently have an operating margin of +39.50 and a Gross Margin at +46.52. Magellan Midstream Partners L.P.’s Net Margin is presently recorded at +36.45.
Return on Total Capital for MMP is now 15.25, given the latest momentum, and Return on Invested Capital for the company is 14.16. Return on Equity for this stock inclined to 38.10, with Return on Assets sitting at 12.61. When it comes to the capital structure of this company, Magellan Midstream Partners L.P. [MMP] has a Total Debt to Total Equity ratio set at 179.60. Additionally, MMP Total Debt to Total Capital is recorded at 64.24, with Total Debt to Total Assets ending up at 57.79. Long-Term Debt to Equity for the company is recorded at 178.64, with the Long-Term Debt to Total Capital now at 63.89.
Reflecting on the efficiency of the workforce at the company, Magellan Midstream Partners L.P. [MMP] managed to generate an average of $541,852 per employee. Receivables Turnover for the company is 20.11 with a Total Asset Turnover recorded at a value of 0.35.Magellan Midstream Partners L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.60.
Earnings per share (EPS) analysis for Magellan Midstream Partners L.P. [MMP] stock
With the latest financial reports released by the company, Magellan Midstream Partners L.P. posted 1.19/share EPS, while the average EPS was predicted by analysts to be reported at 1.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Magellan Midstream Partners L.P. go to -0.40%.
Magellan Midstream Partners L.P. [MMP]: Insider Ownership positions
There are presently around $5,914 million, or 68.60% of MMP stock, in the hands of institutional investors. The top three institutional holders of MMP stocks are: TORTOISE CAPITAL ADVISORS, L.L.C. with ownership of 12,129,029, which is approximately -28.318% of the company’s market cap and around 0.10% of the total institutional ownership; INVESCO LTD., holding 10,509,167 shares of the stock with an approximate value of $427.72 million in MMP stocks shares; and GOLDMAN SACHS GROUP INC, currently with $399.79 million in MMP stock with ownership of nearly 8.129% of the company’s market capitalization.
Positions in Magellan Midstream Partners L.P. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 209 institutional holders increased their position in Magellan Midstream Partners L.P. [NYSE:MMP] by around 17,220,023 shares. Additionally, 308 investors decreased positions by around 17,731,567 shares, while 133 investors held positions by with 110,344,730 shares. The mentioned changes placed institutional holdings at 145,296,320 shares, according to the latest SEC report filing. MMP stock had 44 new institutional investments in for a total of 1,986,217 shares, while 95 institutional investors sold positions of 2,059,688 shares during the same period.