Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $77.3500 on Magellan Midstream Partners L.P. (NYSE:MMP) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $3.4800 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Magellan Midstream Partners L.P. (NYSE:MMP) stands at 20.0979. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Magellan Midstream Partners L.P, the PEG ratio for coming 3-5 years is 2.6900. Technical Analysis The technical analysis highlights that Magellan Midstream Partners L.P current price is trading $0.9681 points away +1.3227% from $73.1932, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $68.3149 and, for now, the stock price is trading $5.8464 or +8.5580% away from that point. The 52-week high of Magellan Midstream Partners L.P. (NYSE:MMP) was $77.4500 while lowest point recorded in 52-week was $54.5100. It implies if stock price makes a movement of over $-3.2887, it will record a new 52-week high. In the case of $+36.0508% points drop, it will touch a new 52-week low.
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