Magellan Midstream Partners L.P with ticker code (MMP) now have 13 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The target price High/Low ranges between 64 and 52 calculating the mean target price we have $57.77. Given that the stocks previous close was at $56.28 this is indicating there is a potential upside of 2.6%. It’s also worth noting that there is a 50 day moving average of $53.57 and the 200 moving average now moves to $51.54. The total market capitalization for the company now stands at $11,397m. Company Website: https://www.magellanlp.com
The potential market cap would be $11,698m based on the market consensus.
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 refined products pipeline that transports gasoline, diesel and 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. It 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, 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. Magellan Midstream Partners, L.P. was incorporated in 2000 and is headquartered in Tulsa, Oklahoma.
The company has a dividend yield of 7.44% with the ex dividend date set at 6-2-2023 (DMY).
Other points of data to note are a P/E ratio of 13.67, revenue per share of 15.28 and a 7.53% return on assets.
