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Magellan Midstream Partners, L.P. (NYSE:MMP) shares reached a new 52-week high on Tuesday , AnalystRatingsNetwork.com reports. The company traded as high as $85.00 and last traded at $84.98, with a volume of 127,359 shares trading hands. The stock had previously closed at $84.04.

Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Magellan Midstream Partners, L.P. in a research note on Wednesday, June 4th. They now have a $88.00 price target on the stock, up previously from $77.00. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Magellan Midstream Partners, L.P. in a research note on Wednesday, May 7th. They now have a $82.00 price target on the stock, up previously from $75.00. Finally, analysts at Citigroup Inc. reiterated an “overweight” rating on shares of Magellan Midstream Partners, L.P. in a research note on Wednesday, May 7th. They now have a $83.00 price target on the stock, up previously from $80.00. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.73.

The stock has a 50-day moving average of $82.09 and a 200-day moving average of $71.66. The company has a market cap of $19.348 billion and a P/E ratio of 26.86.

Magellan Midstream Partners, L.P. (NYSE:MMP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.40. The company had revenue of $618.60 million for the quarter, compared to the consensus estimate of $509.20 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 43.1% on a year-over-year basis. On average, analysts predict that Magellan Midstream Partners, L.P. will post $3.30 earnings per share for the current fiscal year.

Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products.

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