Analyst Rating Update on Magellan Midstream Partners L.P. (MMP)

Magellan Midstream Partners L.P. (NYSE:MMP) : Zacks Investment Research ranks Magellan Midstream Partners L.P. (NYSE:MMP) as 3, which is a Hold recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 1.86, which indicates as a Buy.

Magellan Midstream Partners L.P. (NYSE:MMP) : Average target price received by Magellan Midstream Partners L.P. (NYSE:MMP) is $78.33 with an expected standard deviation of $5.58. The most aggressive target on the stock is $85, whereas the most downbeat target is $68. 12 financial analysts are currently covering the stock.

For the current week, the company shares have a recommendation consensus of Buy.

Magellan Midstream Partners L.P. (NYSE:MMP): stock turned positive on Tuesday. Though the stock opened at $75.53, the bulls momentum made the stock top out at $76.43 level for the day. The stock recorded a low of $74.35 and closed the trading day at $75.72, in the green by 1.62%. The total traded volume for the day was 747,645. The stock had closed at $74.51 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged that Selvidge Jeff R, officer (Senior Vice President) of Magellan Midstream Partners Lp, had unloaded 5,504 shares at an average price of $72 in a transaction dated on May 6, 2016. The total value of the transaction was worth $396,288.

Magellan Midstream Partners, L.P. (Magellan) is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Companys business segments include Refined Products, Crude Oil and Marine Storage. The Companys refined products segment consists of Magellans 9,500-mile refined products pipeline system with 53 terminals, as well as 27 independent terminals not connected to the Companys pipeline system and its 1,100-mile ammonia pipeline system. Magellans crude oil segment consists of approximately 1,600 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 21 million barrels, of which 12 million is used for leased storage. Its marine storage segment consists of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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