Magellan Midstream Partners L.P. (MMP) Receives Analyst Rating

Magellan Midstream Partners L.P. (MMP) : 7 brokerage houses believe that Magellan Midstream Partners L.P. (MMP) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Magellan Midstream Partners L.P. (MMP). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 13 Wall Street Analysts endorse the stock as a Buy with a rating of 1.87.

Magellan Midstream Partners L.P. (MMP) : The highest level Magellan Midstream Partners L.P. (MMP) is projected to reach is $85 for the short term and the lowest estimate is at $69. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $78.55 and the possibility the share price can swing is $6.15.


Also, Major Brokerage house, Morgan Stanley downgrades its ratings on Magellan Midstream Partners L.P. (NYSE:MMP). In the latest research report, Morgan Stanley lowers the target price from $73 per share to $69 per share. According to the latest information available, the shares are now rated Underweight by the analysts at the agency. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on August 18, 2016.

Magellan Midstream Partners L.P. (NYSE:MMP): The stock opened in the green at $68.21 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $68.92 and a low of $67.77 for the day. The stock did not find buyers even at the lows and closed at $67.82 recording a loss of -0.75%. 888,662 shares exchanged hands during the trading day. The stock had closed at $68.33 in the previous days trading.

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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