Magellan Midstream Partners, L.P. (NYSE:MMP) has been downgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 6, 2016
Zacks Investment Research has downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) to Hold in a statement released on 10/06/2016.
On 10/5/2016, Zacks Investment Research released a statement for Magellan Midstream Partners, L.P. (NYSE:MMP) bumped up the target price from $0.00 to $78.00 that suggested an upside of 0.12%.
Boasting a price of $69.42, Magellan Midstream Partners, L.P. (NYSE:MMP) traded -0.04% lower on the day. With the last stock price close down -1.77% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Magellan Midstream Partners, L.P. has recorded a 50-day average of $69.97 and a two hundred day average of $70.95. Volume of trade was down over the average, with 163,072 shares of MMP changing hands under the typical 603,318
With a total market value of $0, Magellan Midstream Partners, L.P. has price-earnings ratio of 18.68 with a one year low of $54.51 and a one year high of $77.45 .
A total of 16 equity analysts have released a ratings update on MMP. Eight equity analysts rating the company a strong buy, four equity analysts rating the company a buy, five equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $76.63.
Brief Synopsis About Magellan Midstream Partners, L.P. (NYSE:MMP)
Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company's business segments include Refined Products, Crude Oil and Marine Storage. The Company's asset portfolio, including the assets of its joint ventures, consist of the Company's refined products segment, including over 9,500 mile refined products pipeline system with approximately 50 terminals, as well as over 30 independent terminals not connected to the its pipeline system and its approximately 1,100-mile ammonia pipeline system; its crude oil segment, including approximately 1,700 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of over 20 million barrels, of which approximately 14 million is used for leased storage, and its marine storage segment, consisting of over five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 30 million barrels.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.