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61% of Analysts Call Magellan Midstream Partners a ‘Buy’


Nov. 20 2020, Updated 5:16 p.m. ET

Ratings for MMP

On April 11, 2018, Mizuho cut Magellan Midstream Partners’ (MMP) price target from $72 to $66. On the same day, Ladenburg Thalmann cut MMP’s price target from $87 to $78. On April 9, RBC raised MMP’s rating from “sector perform” to “outperform.”

Of the analysts surveyed by Reuters, 61% have rated Magellan Midstream Partners as a “buy,” 28% have rated it as a “hold,” and the remaining 11% have rated the stock as a “sell.”

Analysts’ mean price target for Magellan Midstream is $74. MMP is currently trading at $62.36. If MMP reaches its price target in a year, it will imply an upside of 19%.

The above graph shows how analysts’ views of Magellan Midstream have changed over the last 12 months. Notably, Magellan Midstream’s mean price target has fallen from $82.9 in April 2017 to its current level of $74.

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Peers’ ratings

In comparison, 57% of the surveyed analysts have rated Kinder Morgan (KMI) as a “buy,” 58% have rated Plains All American Pipeline (PAA) as a “buy,” and all analysts have rated Enterprise Products Partners (EPD) as a “buy.”

The mean target price provided by the surveyed analysts for Kinder Morgan is $22. If KMI attains its price target in a year, it will imply an upside of 43.0% from its current price of $15.34.

Enterprise Products Partners’ mean price target is $31.80, and it’s trading at $25.78. If EPD reaches its mean price target in a year, it will imply an upside of 23.0%.

The mean price target for Plains All American Pipeline provided by analysts is $25. Its stock is currently trading at $23.87. If PAA attains its mean price target in a year, it would mean an upside of 5%.

For the latest coverage on energy MLPs, visit Market Realist’s Energy MLPs page.


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