Magellan Midstream Partners L.P. (MMP) Shares are Down -3.99%

Magellan Midstream Partners L.P. (MMP) : During the past 4 weeks, traders have been relatively bearish on Magellan Midstream Partners L.P. (MMP), hence the stock is down -1.1% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.5% relative to the S&P 500. The 4-week change in the price of the stock is -3.1% and the stock has fallen -3.99% in the past 1 week.

The stock has recorded a 20-day Moving Average of 3.22% and the 50-Day Moving Average is 4.77%.The 200 Day SMA reached 0.65% Magellan Midstream Partners LP has dropped 7.8% during the last 3-month period . Year-to-Date the stock performance stands at 3.47%.


Magellan Midstream Partners L.P. (MMP) : Currently there are 11 street experts covering Magellan Midstream Partners L.P. (MMP) stock. The most bullish and bearish price target for the stock is $85 and $69 respectively for the short term. The average price target of all the analysts comes to $78.55. The estimated standard deviation from the target is $6.15.

For the current week, the company shares have a recommendation consensus of Buy. Magellan Midstream Partners L.P. (NYSE:MMP): The stock opened at $67.57 and touched an intraday high of $68.06 on Friday. During the day, the stock corrected to an intraday low of $67.34, however, the bulls stepped in and pushed the price higher to close in the green at $67.84 with a gain of 0.03% for the day. The total traded volume for the day was 1,079,561. The stock had closed at $67.84 in the previous trading session.

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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