Buzzing Stock: Magellan Midstream Partners L.P. (NYSE:MMP)


As per the research groups listed in Thomson Reuters survey, Magellan Midstream Partners L.P. (NYSE:MMP), the stock can touch mean price target of $78.06 in coming period. This price target highlights the recommendations of leading experts in the market.

Thomson Reuters studies the brokerages research reports to reach this price target. The latest poll indicate that the company may record earnings of $0.95 per share in looming quarter and $3.53 during current fiscal.

Technical Forecast

While evaluating Magellan Midstream Partners L.P on the technical side, it is seen that the firm’s shares price is trading $-1.66 points away or -2.30% from its 50-day moving average of $71.91. Further it is trading $0.07 or +0.10% away its 200-day moving average of $70.18. MA here stands for moving average.

Magellan Midstream Partners L.P. (NYSE:MMP) stock made a high of $77.45 in last 12-months while the lowest level in same period was $54.51. It entails if stock price makes a movement of over $-7.20, it will make a new 52-week high. In the case of +28.88% decline, it will touch a new 52-week low.

Valuation Level

The valuation of Magellan Midstream Partners L.P is done by analysts by using price-to-earnings ratio. This ratio considers the latest price and profits for valuating a stock. The ratio is calculated by dividing stock price by annual EPS. For now, Magellan Midstream Partners L.P. (NYSE:MMP) P/E ratio is 18.83. The stakeholders can further gauge a firm’s performance by calculating Price-to-Earnings-Growth ratio, and for Magellan Midstream Partners L.P it stands at 2.48.

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