Magellan Midstream Partners L.P. (MMP): The stock had negative money flow to the tune of ($2.48 million) on Friday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $5.55 million, whereas, the outflow of money on downticks was $8.03 million and the ratio between the two was 0.69. The block trade had a negative net money flow of ($2.82 million). On the other hand, downticks amounted to $2.82 million of the traded value, which shows distribution in the stock by traders. Magellan Midstream Partners L.P. (MMP) closed with marginal gains of 1 cents to end the day at $72.81, an increase of 0.01% over the previous days close. The stock recorded -3.8% for the week.
Magellan Midstream Partners L.P. (MMP) stock is expected to deviate a maximum of $5.13 from the average target price of $78.58 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $85 and the most muted being $69.
Magellan Midstream Partners L.P. (NYSE:MMP): stock turned positive on Friday. Though the stock opened at $72.45, the bulls momentum made the stock top out at $73.7 level for the day. The stock recorded a low of $72.45 and closed the trading day at $73.57, in the green by 1.06%. The total traded volume for the day was 572,590. The stock had closed at $72.8 in the previous days trading.
In a related news, The officer (Senior Vice President), of Magellan Midstream Partners Lp, Selvidge Jeff R had unloaded 5,504 shares at $72 per share in a transaction on May 6, 2016. The total value of transaction was $396,288. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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.