Magellan Midstream Partners L.P. (MMP) Shares are Up 0.78%

Magellan Midstream Partners L.P. (MMP) : Traders are bullish on Magellan Midstream Partners L.P. (MMP) as it has outperformed the S&P 500 by a wide margin of 0.44% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.62%, relative to the S&P 500. The stock has risen by 0.78% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.1% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 1.35% and the 50-Day Moving Average is 0.53%.The 200 Day SMA reached 4.09%


Magellan Midstream Partners L.P. (NYSE:MMP): After opening at $70.28, the stock dipped to an intraday low of $69.86 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $70.81 and the buying power remained strong till the end. The stock closed at $70.74 for the day, a gain of 0.71% for the day session. The total traded volume was 697,150. The stocks close on the previous trading day was $70.74.

Magellan Midstream Partners L.P. (MMP) : Currently there are 12 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 $78.08. The estimated standard deviation from the target is $6.08.

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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