Magellan Midstream Partners L.P. (NYSE:MMP) is expected to report third quarter earnings results, before market open, on Friday 30th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.84 per share from revenue of $ 574.94 million.
Looking ahead, the full year income are expected at $ 3.63 per share on the revenues of $ 2512.81 million.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 3.50 ~ $ 3.70 per share
Click Here For More Historical Outlooks Of Magellan Midstream Partners L.P.
Previous Quarter Performance
Magellan Midstream Partners L.P. revealed income for the second quarter of $ 0.65 per share, from the revenue of $ 460.41 million. The quarterly earnings declined 41.44 percent compared with the same quarter last year. Street analysts expected Magellan Midstream Partners L.P. to report income of $ 0.74 per share on revenue of $ 580.72 million for the second quarter. The bottom line results missed street analysts by $ 0.09 or 12.16 percent, at the same time, top line results fell short of analysts by $ 120.31 million or 20.72 percent.
Stock Performance
Shares of Magellan Midstream Partners L.P. traded up $ 0.74 or 2.13 percent on Thursday, reaching $ 35.52 with volume of 1.20 million shares. Magellan Midstream Partners L.P. has traded high as $ 35.66 and has cracked $ 34.02 on the downward trend
According to the previous trading day, closing price of $ 35.52, representing a 57.95 % increase from the 52 week low of $ 22.02 and a 46.77 % decrease over the 52 week high of $ 65.34.
The company has a market capital of $ 7.99 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Analyst recommendations
- On 25th September 2020, maintained by Morgan Stanley at Overweight rating, with $ 50.00 target price.
Recent Stock Dividend Announcement
On July 23, 2020, the board of directors authorized quarterly dividend of $ 1.0275 per share to holders of record as of the close of business on August 7, 2020, with payment date of August 14, 2020 and ex-dividend date on August 6, 2020.
Conference Call
Magellan Midstream Partners L.P. will be hosting a conference call at 1:00 PM eastern time on 30th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.magellanlp.com
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments.
