Company Shares of Magellan Midstream Partners L.P. Rally 2.75%

Magellan Midstream Partners L.P. (NYSE:MMP) has climbed 2.75% in the past week and advanced 4.29% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 3.98% and the outperformance has advanced to 3.34% for the last 4 weeks period.

Magellan Midstream Partners L.P. (NYSE:MMP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $73.75 and $73.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $74.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $74.43, notching a gain of 1.17% for the day. The total traded volume was 3,363,204 . The stock had closed at $73.57 on the previous day.

The company shares have dropped -6.01% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $79.85 and the one year low was seen on Dec 8, 2015. The 50-Day Moving Average price is $71.48 and the 200 Day Moving Average price is recorded at $66.92.

On the companys insider trading activities,The officer (Senior Vice President) of Magellan Midstream Partners Lp, Selvidge Jeff R sold 5,504 shares at $72 on May 6, 2016. The Insider selling transaction had a total value worth of $396,288. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Many analysts have stated their opinion on the company shares. Seaport Global initiates coverage on Magellan Midstream Partners L.P. (NYSE:MMP). In the latest research report, Seaport Global announces the target price to $82 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 14, 2016. Currently the company Insiders own 0.28% of Magellan Midstream Partners L.P. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -18.04% . Institutional Investors own 62.79% of Magellan Midstream Partners L.P. shares. During last six month period, the net percent change held by insiders has seen a change of -13.84%.

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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