UBS AG Gives Neutral Rating to Magellan Midstream (MMP)
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Magellan Midstream in a research note to investors on Wednesday, April 4th. They now have a $76.00 price target on the stock. Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a “buy” rating on shares of Magellan Midstream in a research note to investors on Wednesday, April 4th. Finally, analysts at Ladenburg Thalmann downgraded shares of Magellan Midstream from a “buy” rating to a “neutral” rating in a research note to investors on Monday, March 12nd.
Magellan Midstream traded down 0.50% on Thursday, hitting $69.20. Magellan Midstream has a 1-year low of $51.00 and a 1-year high of $73.74. The company has a market cap of $7.827 billion and a price-to-earnings ratio of 18.85.
The company last announced its quarterly results on Wednesday, May 2nd. It reported $0.83 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.92 EPS by $0.09. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Magellan Midstream will post $0.93 EPS next quarter.
Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products.