Magellan Midstream Partners L.P. stock performance trend indicates that the stock price has rallied 2.45% in the past 12 Weeks , but analyzing the 6 month charts for the stock , the price continues to stay positive and keep the rally at 9.77% . Looking at the past 52 week period, the stock price is up at 11.92% . Relative price strength is a important factor used by wealth management firms while investing in stocks because the indicator compares the stock performance with the overall market. The relative price strength of Magellan Midstream Partners L.P. has a positive value of 11.05 compared to overall market.Magellan Midstream Partners, L.P. is having a Relative Strength Index of 51.11 which indicates the stock is not yet over sold or over bought based on the technical indicators.
Stocks of Magellan Midstream Partners L.P. (NYSE:MMP) rallied by 0.47% during the past week but lost 3.14% on a 4-week basis. The company has outperformed the S&P 500 by 0.23% in the past week but underperformed the index by 4.25% in the last 4 weeks.
For the current week, the company shares have a recommendation consensus of Buy. Magellan Midstream Partners L.P. (NYSE:MMP) stock ended Friday session in the red zone in a volatile trading. The stock closed down 0.73 points or 0.93% at $77.65 with 1,908,706 shares getting traded. Post opening the session at $78.48, the shares hit an intraday low of $77.52 and an intraday high of $78.48 and the price was in this range throughout the day. The company has a market cap of $17,706 million and the number of outstanding shares has been calculated to be 228,024,560 shares. The 52-week high of Magellan Midstream Partners L.P. (NYSE:MMP) is $81.77 and the 52-week low is $63.4.
Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Magellan Midstream Partners L.P. was Downgraded by Citigroup to Neutral on Mar 6, 2017. Company shares were Reiterated by Mizuho on Feb 6, 2017 to Neutral, Raises Price Target to $ 74 from a previous price target of $73 .Magellan Midstream Partners L.P. was Downgraded by UBS on Feb 3, 2017 to Neutral, Price Target of the shares are set at $81.Magellan Midstream Partners L.P. was Downgraded by Raymond James to Outperform on Jan 12, 2017. Magellan Midstream Partners L.P. was Initiated by Ladenburg Thalmann to Buy on Dec 19, 2016.
Company has reported several Insider transactions to the SEC, on Feb 15, 2017, Jeff R Selvidge (Senior Vice President) sold 5,000 shares at 80.00 per share price.On Feb 8, 2017, Lisa J Korner (Senior Vice President) sold 10,000 shares at 78.67 per share price.On Feb 7, 2017, Michael N Mears (President & CEO) sold 50,000 shares at 78.74 per share price.
Magellan Midstream Partners L.P. Last issued its quarterly earnings results on Feb 2, 2017. The company reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05. Analyst had a consensus of $0.99. The company had revenue of $614.92 million for the quarter, compared to analysts expectations of $602.48 million. The companys revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.
Magellan Midstream Partners, L.P., formerly Williams Energy Partners L.P., is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products and ammonia.