Is MMP dividend safe? (2024)

Is MMP dividend safe?

Summary. MMP has a nice safe distribution that should continue to slowly rise. Growth in 2023 should be driven by tariff increases.

Is MMP a good dividend stock?

And over the past decade, Magellan Midstream Partners LP's annual dividends per share growth rate stands at 8.80%. Based on Magellan Midstream Partners LP's dividend yield and five-year growth rate, the 5-year yield on cost of Magellan Midstream Partners LP stock as of today is approximately 7.04%.

Is MMP a good investment?

Magellan Midstream Partners currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.

What is the outlook for MMP stock?

The average price target is $63.75 with a high forecast of $68.00 and a low forecast of $56.00. The average price target represents a -7.61% change from the last price of $69.00.

What happened to Magellan Midstream Partners stock?

On September 25, 2023, ONEOK, Inc. (NYSE: OKE) acquired all of the outstanding common units of Magellan Midstream Partners, L.P. (MMP) in a cash and stock transaction. Common units of Magellan are no longer publicly traded.

Is MMP a buy or sell stock?

MMP boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating.

What is the most reliable dividend stock?

Will MMP stock go up?

According to our current MMP stock forecast, the value of Magellan Midstream Partners LP shares will rise by 0.00% and reach $ 69.00 per share by March 15, 2024. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 39 (Fear).

How long has MMP paid dividends?

Historical dividend payout and yield for Magellan Midstream Partners, L.P. (MMP) since 2003. The current TTM dividend payout for Magellan Midstream Partners, L.P. (MMP) as of September 22, 2023 is $.

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Does Magellan Midstream Partners issue a k1?

(NYSE: OKE) acquired all of the outstanding common units of Magellan Midstream Partners, L.P. (“MMP” or “Magellan”) in a cash and stock transaction. Common units of Magellan are no longer publicly traded. MMP unitholders should expect to receive a final Schedule K-1 and supporting materials.

How much is Magellan midstream share price?

What is the current share price of Magellan Midstream Partners LP (MMP)? The share price of Magellan Midstream Partners LP (MMP) is $69.00 (NYSE) as of 22-Sep-2023 19:00 EST. Magellan Midstream Partners LP (MMP) has given a return of 34.28% in the last 3 years.

What is the market cap of Magellan midstream?

Market cap: $13.94 Billion

As of March 2024 Magellan Midstream Partners has a market cap of $13.94 Billion. This makes Magellan Midstream Partners the world's 1259th most valuable company by market cap according to our data.

Why is Magellan stock dropping?

Magellan has witnessed a steady decline in FUM over the past few quarters. Institutional clients have withdrawn heavily from Magellan's funds, resulting in a dip in its FUM. The company even appointed a new chairman to its board last year to revitalize its strategic course.

Who is buying Magellan Midstream Partners?

(NYSE: OKE) (ONEOK) today announced that it has completed its acquisition of Magellan Midstream Partners, L.P. (Magellan), creating a more diversified North American midstream infrastructure company focused on delivering essential energy products and services to its customers, and continued strong returns to investors.

Why have Magellan shares dropped?

The poor performance had been in Magellan's global fund, for which Douglass was responsible. It had underperformed the benchmark by about 20 per cent over the previous 12 months. By the time Douglass resigned in March 2022, funds under management were $70 billion, and its shares were near $15.

Who are the largest shareholders of MMP?

Largest shareholders include AMLP - ALERIAN MLP ETF, JAENX - Janus Henderson Enterprise Fund Class T, MLPA - Global X MLP ETF, EMLP - First Trust North American Energy Infrastructure Fund, GLPAX - Goldman Sachs MLP Energy Infrastructure Fund Class A Shares, TORIX - Tortoise MLP & Pipeline Fund Institutional Class ...

Is MC a good stock to buy?

The consensus among 5 Wall Street analysts covering (NYSE: MC) stock is to Sell MC stock. Out of 5 analysts, 0 (0%) are recommending MC as a Strong Buy, 0 (0%) are recommending MC as a Buy, 3 (60%) are recommending MC as a Hold, 0 (0%) are recommending MC as a Sell, and 2 (40%) are recommending MC as a Strong Sell.

Is MC stock a buy?

Moelis has a conensus rating of Moderate Sell which is based on 0 buy ratings, 3 hold ratings and 2 sell ratings. The average price target for Moelis is $54.25. This is based on 5 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

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What are the best cheap dividend stocks in 2024?

Because a company's share price is always shifting, the dividend yield also changes at a similar pace. The four stocks on the NYSE or Nasdaq with the highest forward dividend yield that also trade for $25 or less as of March 2024 include Petrobras, Jiayin Group, Great Elm Capital Corp., and Angel Oak Mortgage REIT.

How much debt does MMP have?

What is the symbol for Magellan midstream partners?

Magellan Midstream Partners (MMP) Stock Price, News & Info | The Motley Fool.

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