Magellan Midstream Partners L.P with ticker code (MMP) have now 20 analysts covering the stock. The analyst consensus points to a rating of ‘Hold’. The target price ranges between 64 and 47 calculating the mean target price we have 53.6. Now with the previous closing price of 48.62 this indicates there is a potential upside of 10.2%. The 50 day moving average now sits at 47.09 and the 200 day moving average is 48.07. The company has a market cap of $10,346m. You can visit the company’s website by visiting: https://www.magellanlp.com
The potential market cap would be $11,405m based on the market concensus.
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.
