Magellan Midstream Partners L.P. (MMP) stock trades up, “Outperform” rating reiterated by Raymond James Financial, Inc. Analysts

Magellan Midstream Partners L.P. (NYSE: MMP) shares rose on Friday January 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.

Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.

U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.

The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.

Are your Sotck Market Investments Paying Off ?

Analysts at Raymond James Financial, Inc. reiterated an Outperform rating on shares of Magellan Midstream Partners L.P. (NYSE: MMP) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. Raymond James Financial, Inc. currently has a rating of Outperform on the stock. The one-year price target of $78.82 is higher than the opening price of $73.68, causing a fair amount of other analysts to report on the stock in recent days. Looking back over the last 52 weeks, Magellan Midstream Partners L.P. stock has a high of $77.50. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.

Shares of Magellan Midstream Partners L.P. (NYSE: MMP) opened at $73.68 yesterday and traded in a range between, $73.33 and $74.78, and last traded at $74.36, which represents a jump of $0.57 over the previous closing price.

Magellan Midstream Partners L.P. (NYSE: MMP) now has a market cap of 16.94B.

Magellan Midstream Partners L.P. (NYSE: MMP) Average Daily Trading Volume

The stock’s average daily volume is 704,694 shares out of a total float 227,189,000 and some 406,983 shares traded hands yesterday, 99 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.

As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.

Magellan Midstream Partners L.P. (NYSE: MMP) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

Trades for Magellan Midstream Partners L.P. (NYSE: MMP) have ranged from $55.25 – 77.50, and the stock now has a 50-day MA of $72.98 and 200-day MA of $71.10. Today’s last price is 4.05%% below the 52 week high of $77.50.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over 3 consecutive years.

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