The stock of Magellan Midstream Partners L.P. (NYSE: MMP) has increased by 0.07 when compared to last closing price of 68.23.Despite this, the company has seen a gain of 2.75% in its stock price over the last five trading days. Seeking Alpha reported 2023-09-17 that U.S. energy production has significantly increased in the past 15 years, with a shift towards becoming an oil exporter and increased natural gas, solar, and wind production. The increase in energy production has not been driven by demand, as energy consumption has remained relatively stable. The shift towards energy independence has positive implications for the U.S. economy, including reducing the trade deficit, strengthening the dollar, and enhancing national security.
Is It Worth Investing in Magellan Midstream Partners L.P. (NYSE: MMP) Right Now?
The price-to-earnings ratio for Magellan Midstream Partners L.P. (NYSE: MMP) is above average at 13.63x, while the 36-month beta value is 0.90.
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The public float for MMP is 201.31M, and currently, short sellers hold a 3.63% ratio of that floaft. The average trading volume of MMP on September 18, 2023 was 1.18M shares.
MMP’s Market Performance
The stock of Magellan Midstream Partners L.P. (MMP) has seen a 2.75% increase in the past week, with a 3.57% rise in the past month, and a 13.60% gain in the past quarter. The volatility ratio for the week is 1.65%, and the volatility levels for the past 30 days are at 1.38% for MMP. The simple moving average for the last 20 days is 2.60% for MMP’s stock, with a simple moving average of 18.48% for the last 200 days.
MMP Trading at 4.22% from the 50-Day Moving Average
After a stumble in the market that brought MMP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.62% of loss for the given period.
Volatility was left at 1.38%, however, over the last 30 days, the volatility rate increased by 1.65%, as shares surge +3.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.60% upper at present.
During the last 5 trading sessions, MMP rose by +2.68%, which changed the moving average for the period of 200-days by +29.43% in comparison to the 20-day moving average, which settled at $66.66. In addition, Magellan Midstream Partners L.P. saw 35.98% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MMP starting from MONTAGUE JAMES R, who sale 2,892 shares at the price of $53.43 back on Nov 15. After this action, MONTAGUE JAMES R now owns 25,095 shares of Magellan Midstream Partners L.P., valued at $154,524 using the latest closing price.
Stock Fundamentals for MMP
Current profitability levels for the company are sitting at:
- +33.59 for the present operating margin
- +40.76 for the gross margin
The net margin for Magellan Midstream Partners L.P. stands at +25.60. The total capital return value is set at 16.09, while invested capital returns managed to touch 12.32. Equity return is now at value 60.30, with 13.40 for asset returns.
Based on Magellan Midstream Partners L.P. (MMP), the company’s capital structure generated 306.42 points at debt to equity in total, while total debt to capital is 75.40. Total debt to assets is 66.98, with long-term debt to equity ratio resting at 304.58. Finally, the long-term debt to capital ratio is 74.94.
When we switch over and look at the enterprise to sales, we see a ratio of 5.54, with the company’s debt to enterprise value settled at 0.33. The receivables turnover for the company is 15.46 and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.98.
Conclusion
In a nutshell, Magellan Midstream Partners L.P. (MMP) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
