Magellan Midstream Partners L.P – Consensus Indicates Potential 6.5% Upside

Broker Ratings

Magellan Midstream Partners L.P with ticker code (MMP) now have 14 analysts in total covering the stock. The consensus rating is ‘Hold’. The target price ranges between 64 and 48 and has a mean target at 56.43. Now with the previous closing price of 52.99 this now indicates there is a potential upside of 6.5%. The 50 day MA is 50.38 and the 200 day moving average is 49.9. The company has a market capitalisation of $10,663m. You can visit the company’s website by visiting: https://www.magellanlp.com

The potential market cap would be $11,355m based on the market concensus.

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Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates through Refined Products and Crude Oil segments. The company operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports. Further, it provides pipeline capacity and tank storage services, as well as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers. In addition, the company owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide design, installation, construction, testing, operation, replacement, and management of assets to refiners, marketers, and traders. As of December 31, 2021, it had 9,800-mile refined products pipeline system with 54 terminals; approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 39 million barrels; and two marine terminals. The company was incorporated in 2000 and is headquartered in Tulsa, Oklahoma.

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