Magellan Midstream Partners LP (MMP)

NYSE
60.06
-1.52(-2.47%)
After Hours
59.90
-0.16(-0.27%)
- Real-time Data
  • Volume:
    1,851,348
  • Day's Range:
    59.76 - 61.34
  • 52 wk Range:
    44.79 - 64.42
High dividend Yield

Dividend yield shows how much a company pays its shareholders in dividends annually per dollar invested. It reflects how much an investor will earn aside from any capital gains in the stock.

MMP Overview

Prev. Close
61.58
Day's Range
59.76-61.34
Revenue
3.4B
Open
61.25
52 wk Range
44.79-64.42
EPS
5.53
Volume
1,851,348
Market Cap
12.14B
Dividend (Yield)
4.19
(6.80%)
Average Vol. (3m)
1,406,572
P/E Ratio
11.08
Beta
0.914
1-Year Change
15.69%
Shares Outstanding
202,095,600
Next Earnings Date
Jul 27, 2023
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Magellan Midstream Partners LP Company Profile

Magellan Midstream Partners LP Company Profile

Magellan Midstream Partners, L.P. primarily transports, stores and distributes refined petroleum products and crude oil. The Company owns refined petroleum products pipeline system in the country and can store more than 100 million barrels of petroleum products, such as gasoline, diesel fuel and crude oil. The Company’s segments include refined products and crude oil. Refined products segment comprised of its approximately 9,800 miles refined petroleum products pipeline system with 54 terminals and two marine storage terminals. Crude oil segment comprised of approximately 2,200 miles of crude oil pipelines, a condensate splitter and 39 million barrels of aggregate storage capacity, of which approximately 29 million barrels are used for contract storage. Approximately 1,000 miles of these pipelines, the condensate splitter and 31 million barrels of this storage capacity, including 25 million barrels used for contract storage are wholly owned by the Company.

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Analyst Price Target

Average63.05 (+4.98% Upside)
High68.00
Low56.00
Price60.06
No. of Analysts10
Strong Sell
Sell
Neutral
Buy
Strong Buy
Neutral
Analysts Consensus

Technical Summary

Type
5 Min
15 Min
Hourly
Daily
Monthly
Moving AveragesSellSellStrong SellNeutralStrong Buy
Technical IndicatorsNeutralStrong SellStrong SellSellStrong Buy
SummaryNeutralStrong SellStrong SellNeutralStrong Buy
  • Magellan has been among the best deliverers of increasing distributions with 71 consecutive quarterly increases. It is an oil only Midstream MLP with a growing presence in the Permian basin and is partnering with Valero for Exporting refined oil products. 1 more big plus here, this investment grade MLP is both self-funding and free of dilution since they bought out their General Partner interests including IDRs in 2010. Like others in its sector, with Enterprise (EPD) coming to mind immediately, MMP trades in predictable but narrow cycles. This allows buying under $60 and reducing via trading as it rises past $67-68. With EPD, one has the opportunity to buy in the bottom of their cycle, under $25 per unit, and HOLD until the units move up toward $29-30. After ~10% unit price gains one can sell "Covered Calls" "closer to the money", with commissions of around 3-6%. In my experience these options are picked up about 1/2 of the time which allows investors the options to HOLD or Sell.
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