Shares of Magellan Midstream Partners L.P. (MMP) Sees Large Outflow of Money

Magellan Midstream Partners L.P. (MMP) : The total money flow in Magellan Midstream Partners L.P. (MMP) was negative ($1.52 million), which signals selling by the traders on Thursdays session. They trimmed their holdings by selling the stock on downticks to the tune of $4.46 million. In comparison, the inflow of money into the stock on upticks was $2.94 million. The uptick to downtick ratio was 0.66. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $1.05 million. The negative money flow of ($1.05 million) confirms the selling in Magellan Midstream Partners L.P. (MMP) on strength. Magellan Midstream Partners L.P. (MMP) gained $0.12 at $74.77, a gain of 0.16% over the previous days close. However, the stock registered -0.21% in the week.


Magellan Midstream Partners L.P. (MMP) : 12 Wall Street analysts covering Magellan Midstream Partners L.P. (MMP) believe that the average level the stock could reach for the short term is $78.33. The maximum price target given is $85 and the minimum target for short term is around $68, hence the standard deviation is calculated at $5.58. The stock has recorded a 20-day Moving Average of 0.47% and the 50-Day Moving Average is 2.5%.

Magellan Midstream Partners L.P. (NYSE:MMP): The stock opened at $75.11 on Thursday but the bulls could not build on the opening and the stock topped out at $75.13 for the day. The stock traded down to $73.93 during the day, due to lack of any buying support eventually closed down at $74.18 with a loss of -0.63% for the day. The stock had closed at $74.65 on the previous day. The total traded volume was 867,185 shares.

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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