A new trading day began on January 24, 2023, with Magellan Midstream Partners L.P. (NYSE: MMP) stock priced at $60.55, up 0.02% from the previous day of trading. During the day, the shares moved up to $60.55 and dropped to $52.00 before settling in for the closing price of $54.07. MMP’s price has ranged from $44.79 to $54.40 over the past 52 weeks.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our 5 Best Growth Stocks To Own For 2023.
Over the past five-year period, the growth rate of yearbook sales for the company of the Energy sector was 4.40%. Meanwhile, its annual earnings per share averaged 21.40%. With a float of $204.24 million, this company’s outstanding shares have now reached $207.50 million.
Considering the fact that the conglomerate employs 1715 people, you should pay attention to its efficiency factor. In terms of profitability, gross margin is +44.42, operating margin of +37.25, and the pretax margin is +32.49.
Magellan Midstream Partners L.P. (MMP) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Oil & Gas Midstream Industry. The insider ownership of Magellan Midstream Partners L.P. is 0.34%, while institutional ownership is 52.10%. The most recent insider transaction that took place on Nov 15, was worth 154,524. In this transaction Director of this company sold 2,892 shares at a rate of $53.43, taking the stock ownership to the 25,095 shares. Before that another transaction happened on Mar 02, when Company’s Senior Vice President sold 11,669 for $49.00, making the entire transaction worth $571,781. This insider now owns 81,119 shares in total.
Magellan Midstream Partners L.P. (MMP) Earnings and Forecasts
In its latest quarterly report, released on 9/29/2022, the company reported earnings of $1.59 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). This company achieved a net margin of +32.41 while generating a return on equity of 44.36. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.17 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 21.40% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 5.45% during the next five years compared to 3.80% growth over the previous five years of trading.
Magellan Midstream Partners L.P. (NYSE: MMP) Trading Performance Indicators
Here are Magellan Midstream Partners L.P.’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 0.50. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 3.50. Likewise, its price to free cash flow for the trailing twelve months is 191.91.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 4.29, a number that is poised to hit 1.29 in the next quarter and is forecasted to reach 4.93 in one year’s time.
Technical Analysis of Magellan Midstream Partners L.P. (MMP)
Compared to the last year’s volume of 0.67 million, its volume of 0.68 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 70.10%. Additionally, its Average True Range was 1.51.
During the past 100 days, Magellan Midstream Partners L.P.’s (MMP) raw stochastic average was set at 56.95%, which indicates a significant increase from 39.36% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 16.81% in the past 14 days, which was lower than the 24.61% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $51.38, while its 200-day Moving Average is $50.44. Nevertheless, the first resistance level for the watch stands at $59.09 in the near term. At $64.09, the stock is likely to face the second major resistance level. The third major resistance level sits at $67.64. If the price goes on to break the first support level at $50.54, it is likely to go to the next support level at $46.99. Should the price break the second support level, the third support level stands at $41.99.
Magellan Midstream Partners L.P. (NYSE: MMP) Key Stats
With a market capitalization of 11.04 billion, the company has a total of 204,936K Shares Outstanding. Currently, annual sales are 2,733 M while annual income is 982,000 K. The company’s previous quarter sales were 876,100 K while its latest quarter income was 330,000 K.