Magellan Midstream’s moving averages
On March 3, Magellan Midstream Partners’ (MMP) 20-day moving average was at $63.62—1% below its 100-day moving average. When a short-term moving average moves above a long-term moving average, it’s considered a bullish sign for the stock. Magellan Midstream Partners closed 9.1% above its 100-day moving average and 10.3% above 20-day moving average on March 3. Currently, it’s 18% below its 52-week high and 29% above its 52-week low. On March 3, 2016, Magellan Midstream Partners closed at $70.17.
Wall Street analysts’ consensus median estimates
Wall Street analysts’ consensus median estimates indicate an impressive 44% rise for these US-based (SPY)(QQQ) midstream companies collectively. The large-cap upstream companies discussed in this series could rise 22% based on analysts’ consensus median estimates.
Over the next 12 months, midstream operators Magellan Midstream Partners (MMP) and Plains All American Pipeline (PAA) could see rises of 7.3% and 12%, respectively, from the prices on March 3—based on Wall Street analysts’ consensus median estimates.