Magellan Midstream Partners L.P – Consensus Indicates Potential 8.3% Upside

Broker Ratings

Magellan Midstream Partners L.P with ticker code (MMP) now have 21 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The range between the high target price and low target price is between 64 and 39 with the average target price sitting at 48.86. With the stocks previous close at 45.1 this is indicating there is a potential upside of 8.3%. The day 50 moving average is 43.04 and the 200 day moving average is 40.63. The company has a market cap of $10,133m. You can visit the company’s website by visiting: http://www.magellanlp.com

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products and Crude Oil segments. It operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to refiners, 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. The company also 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, Magellan Midstream Partners, L.P. owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide distribution, storage, blending, inventory management, and additive injection services for refiners, marketers, traders, and other end users of petroleum products. As of December 31, 2019, it had 9,800-mile refined products pipeline system with 54 terminals, as well as 25 independent terminals; approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 37 million barrels; and 2 marine terminals. Magellan Midstream Partners, L.P. was founded in 2000 and is headquartered in Tulsa, Oklahoma.

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