Magellan Midstream Partners L.P. (NYSE:MMP) has a beta of 1.09, a 12-month trailing P/E ratio of 14.74, and a growth ratio of 1.97. The stock’s Relative Strength Index (RSI) is 59.91, with weekly volatility at 1.56% and ATR at 0.93. The MMP stock’s 52-week price range has touched low of $32.61 and a $50.00 high. Its shares traded higher over the last trading session, gaining 0.33% on 05/28/21. The shares fell to a low of $48.99 before closing at $49.29. Intraday shares traded counted 0.81 million, which was 42.73% higher than its 30-day average trading volume of 1.41M. MMP’s previous close was $49.13 while the outstanding shares total 223.59M.
Investors have identified the Oil & Gas Midstream company Magellan Midstream Partners L.P. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $10.97 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Magellan Midstream Partners L.P. (MMP) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 478.14 million total, with 560.76 million as their total liabilities.
MMP were able to record 210.29 million as free cash flow during the 08/05/2021 quarter of the year, this saw their quarterly net cash flow reduce by -9.5 million. In cash movements, the company had a total of 240.24 million as operating cash flow.
Potential earnings growth for Magellan Midstream Partners L.P. (MMP)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/05/2021 quarter of the year, Magellan Midstream Partners L.P. recorded a total of 661.07 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -18.41% coming in sequential stages and their sales for the 08/05/2021 quarter increasing by 11.31%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 184.87 million trying to sell their products during the last quarter, with the result yielding a gross income of 476.21 million. This allows shareholders to hold on to 223.59M with the recently reported earning now reading 0.99 cents per share. This is a figure that compared to analyst’s prediction for their 08/05/2021 (1.09 cents a share).
Having a look at the company’s valuation, the company is expected to record 4.15 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on MMP sounds very interesting.
Is the stock of MMP attractive?
In related news, Senior Vice President, Korner Lisa J sold 10,000 shares of the company’s stock in a transaction that recorded on Apr 30. The sale was performed at an average price of 47.62, for a total value of 476,236. As the sale deal closes, the Director, Joung Chansoo now bought 20,000 shares of the company’s stock, valued at 706,486. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.30%.
7 out of 21 analysts covering the stock have rated it a Buy, while 12 have maintained a Hold recommendation on Magellan Midstream Partners L.P.. 0 analysts has assigned a Sell rating on the MMP stock. The 12-month mean consensus price target for the company’s shares has been set at $51.16.