Coverage Initiated by TD Securities for Magellan Midstream Partners (NYSE:MMP)

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Stock analysts at TD Securities initiated coverage on shares of  Magellan Midstream Partners (NYSE:MMP) in a report issued on Tuesday. The brokerage set a Buy rating on the Oils/Energy stock. A price-to-earnings ratio of 8.96 and a beta of 1.07. Magellan Midstream Partners has a twelve month low $22.02 of  and a twelve month high of $67.75.

Shares of Magellan Midstream Partners traded up $1.22 on Tuesday, reaching $43.17. 1458980 shares of the stock traded hands, compared to its average volume of 1284784. Shares of Magellan Midstream Partners closed trading at $43.17 on Tuesday mid-day. The firm’s 50 day moving average is $$43.44 and its 200 day moving average is $53.53.Magellan Midstream Partners  has a 12 month low of $41.15 and a 12 month high of $67.75. While on yearly highs and lows, Magellan Midstream Partners’s today has traded high as $43.49 and has touched $41.15 on the downward trend. See More Analyst Rating at: RATING

Magellan Midstream Partners Earnings and What to expect: 

Magellan Midstream Partners last posted its quarterly earnings results on May 1st, 2020. The pipeline company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.03 by $0.25. The firm earned $782.80 million during the quarter, compared to analysts’ expectations of $676.67 million. Its revenue for the quarter was up 24.5% on a year-over-year basis. Magellan Midstream Partners has generated $4.76 earnings per share over the last year and currently has a price-to-earnings ratio of 8.7. Magellan Midstream Partners has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, August 6th, 2020 based off prior year’s report dates.

Earnings for Magellan Midstream Partners are expected to grow by 7.01% in the coming year, from $3.85 to $4.12 per share. The P/E ratio of Magellan Midstream Partners is 8.67, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 16.26. The P/E ratio of Magellan Midstream Partners is 8.67, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 9.30. Magellan Midstream Partners has a P/B Ratio of 3.51. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Latest Insiders Trading and Volume : 

  • Insider Ownership Percentage: 0.29%
  • On 5/8/2020 Director Chansoo Joung Buy 13,370 at average share price of $42.11 which equates to $563,010.70 in money value.
  • On 2/20/2020 SVP Jeff R Selvidge Sell 2,500 at average price of  $60.74 with total value of : Not Data Available
  • On 2/19/2020 Director James R Montague Sell 1,910 at average price of  $60.77 with total value of : $116,070.70

Analyt at TD Securities other ratings :

Latest rating for Magellan Midstream Partners by other brokers:

  • 6/30/2020 – Centerra Gold was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating.
  • 6/30/2020 – Peyto Exploration & Development was upgraded by analysts at TD Securities from a “reduce” rating to a “hold” rating.
  • 6/30/2020 – Plains All American Pipeline is now covered by analysts at TD Securities. They set a “buy” rating and a $17.00 price target on the stock.
  • 6/30/2020 – EQT was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating. They now have a $15.50 price target on the stock.

Magellan Midstream Partners (NYSE:MMP) Moving Average Technical Analysis

5 day Moving Average is $42.00 And 5 day price change is -$2.40 (-5.45%)  with average volume for 5 day average is 1,127,210. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $44.70 and 20 day price change is -$3.00 (-6.72%) and average 20 day moving volume is 1,427,238. 50 day moving average is $43.44  and 50 day price change is $2.01 ( 5.05%)  and with average volume for 50 days is : 1,430,947. 200 day moving average is $53.53  and 200 day price change is -$23.77 (-36.31%)  and with average volume for 200 days is : 1,480,338.

See More Analyst Rating at: RATING