How to Buy Magellan Midstream Partners Stock
Magellan Midstream Partners LP
Magellan Midstream Partners is a oil & gas midstream company located in Oklahoma, United States, which is part of the Energy sector, and is traded under the ticker MMP on the NYSE exchange.
Magellan Midstream Partners stock last closed at $61.48, up 2.09% from the previous day, and has increased 17.67% in one year. It has overperformed other stocks in the Oil & Gas Midstream industry by 0.2 percentage points. Magellan Midstream Partners stock is currently +37.26% from its 52-week low of $44.79, and -4.56% from its 52-week high of $64.42.
As of Jun 2, 2023, there are 202.1M MMP shares outstanding. The market capitalization of MMP is $12.42B. In the past 24 hours, 1.52M MMP shares were traded.
How to Buy Magellan Midstream Partners Stock
Wondering how to invest in Magellan Midstream Partners stock? Here's how.
- Decide where to buy Magellan Midstream Partners stock: You need to choose an online brokerage, but don't worry - we've tested dozens of online stock brokerages and apps to help you decide where to buy Magellan Midstream Partners stock.
- Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Put funds into your investment account: Choose your payment method and add your details.
- Evaluate Magellan Midstream Partners stock: The Magellan Midstream Partners ticker symbol is MMP. Is Magellan Midstream Partners stock a good investment? Should you buy shares of MMP? How do MMP's underlying business fundamentals look? Do top analysts think Magellan Midstream Partners is a good buy? Why has MMP's stock price moved recently? (Hint: Our stock market research website can help you evaluate if MMP is a good stock to buy).
- Place your MMP trade: Decide if you will purchase MMP shares at the current market price or use a limit order to purchase MMP stock at a given price.
- Track your MMP position: Create a watchlist to monitor your position in Magellan Midstream Partners shares.
Step 1: Decide where to buy Magellan Midstream Partners stock
You will need a brokerage account to access the NYSE market and buy MMP shares.
Our favorite brokerage: eToro
In our opinion, eToro is the best brokerage. eToro gives you:
- You can invest in stocks with zero commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you can't afford a full share, you can still invest in the stock.
- Access to global markets: From Tech to Financial Services, New York to London — you can fill your portfolio with stocks from the globe's leading stock exchanges.
- Social investing: eToro boasts a community with more than 20 million users worldwide. Talk to, learn from, and copy the unique crypto portfolios of other investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other assets: Such as ETFs and cryptocurrencies.
Get $10 towards your purchase of stock by opening an account with eToro now.
Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've selected your brokerage, you'll need to fill out some personal info so you are able to buy MMP today.
How to Start a New Brokerage Account on eToro
- Click here to get started.
- Provide your personal data to open your new brokerage account.
- Send your details by clicking the "Create Account" button.
Step 3: Put funds into your investment account
Now that you've opened your account on the best investment app, you can securely and quickly fund your account:
Watch the tutorial below if you need help depositing funds into your investment account.
Step 4: Evaluate Magellan Midstream Partners stock
After you have figured out the best place to buy Magellan Midstream Partners stock, it's very important to analyze their stock prior to buying, so you truly comprehend the risk and opportunity.
Magellan Midstream Partners quick stats
Magellan Midstream Partners Due Diligence Checks
WallStreetZen was designed to help average investors do more in-depth fundamental analysis in less time.
You can view all of the due diligence checks on MMP's stock page.
Is MMP stock undervalued or overvalued?
Investors use a variety of different financial metrics, analyses, models, and charts to gauge MMP's intrinsic value.
Using relative valuations methods:
- MMP may be undervalued based on its P/E ratio of 11.14x, relative to Oil & Gas Midstream industry P/E ratio of 12.98x
- MMP may be overvalued based on its P/B ratio of 7.39x, relative to Oil & Gas Midstream industry P/B ratio of 2.12x
You can do more valuation research on MMP's stock here.
MMP Financial Health Overview
Positive Health Checks:
- MMP's operating cash flow of $1.39B allows it to safely service it's debt of $5.13B.
- MMP profit margin has gone up from 33.4% to 33.7% in the past year.
- MMP earnings of $1.38B is not enough to cover its interest payments.
Negative Health Checks:
- There are more long-term liabilities than short-term assets on the MMP balance sheet.
- MMP has a relatively high debt to equity ratio of 3.5.
- There are more short-term liabilities than short-term assets on the MMP balance sheet.
- Total MMP debt is higher than 5 years ago, relative to shareholder equity.
Is it a good time to buy MMP stock, according to analysts?
Out of 8 Equities analysts who research MMP, the consensus analyst rating on Magellan Midstream Partners is a Hold
Please note that analyst ratings are not stock recommendations, nor are they investment advice.
Latest MMP Analyst Ratings
Selman Akyol, a bottom 11% analyst from Stifel Nicolaus downgrades MMP to a hold rating and raises their MMP price target from $61.00 to $64.00, on May 18, 2023.
Spiro Dounis, a top 14% analyst from Citigroup downgrades MMP to a hold rating and raises their MMP price target from $57.00 to $63.00, on May 17, 2023.
Elvira Scotto, a bottom 7% analyst from RBC Capital downgrades MMP to a hold rating and raises their MMP price target from $59.00 to $66.00, on May 17, 2023.
Gabriel Moreen, a top 9% analyst from Mizuho maintains MMP with a hold rating and raises their MMP price target from $53.00 to $56.00, on May 15, 2023.
Praneeth Satish, a top 24% analyst from Wells Fargo maintains MMP with a hold rating and raises their MMP price target from $58.00 to $59.00, on May 8, 2023.
You can dig deeper into what analysts are projecting on the Magellan Midstream Partners stock forecast page.
Metrics for Advanced MMP Traders
Is MMP Making Money?
Last year, MMP earnings were $1.14B. Over the last 5 year, MMP's earnings have gone up by 8.04% per year. This was slower than the Oil & Gas Midstream industry average of 26.44%.
Last year, MMP revenue was $3.40B. In the past 5 year, MMP's revenue has grown by 5.94% per year. This was slower than the Oil & Gas Midstream industry average of 14.24%.
Dive into MMP's earnings and revenue performance here.
Who is buying/selling MMP?
Over the last year, insiders at MMP have bought more shares than they have sold.
Michael Aaronson, Executive Vice President of MMP, was the latest MMP insider to sell. They sold $275,401.85 worth of MMP stock on Jan 24, 2023.
Research more about who owns MMP stock here.
Does MMP stock generate passive income?
Magellan Midstream Partners pays a dividend of 6.8%, compared to the Oil & Gas Midstream industry's average dividend yield of 6.61%. If you owned $1,000 worth of MMP stock, you would have been paid $67.99 last year.
Magellan Midstream Partners dividend payments have consistently grown over the past decade and have remained stable.
Get more data about Magellan Midstream Partners dividend yield and history here.
MMP Social Trading Data
One of the primary reasons eToro is our highest-rated brokerage is because of its social trading community.
Click below to learn what other traders have to say.
Step 5: Place your MMP trade
You have two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are usually the best for newer investors. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to ensure you're buying or selling at a particular dollar amount, use a limit order.
Click the Open button and your broker will execute the order.
If you require more help investing in stocks on eToro, watch the how to video below:
Step 6: Track your MMP position
Now that you own some shares in MMP, you'll want to stay up-to-date on your investment.
Add MMP to a watchlist to see the latest developments about your MMP stock.
MMP Feed
How to Buy Stock in Magellan Midstream Partners
To summarize, here are the 6 steps to buy Magellan Midstream Partners stock:
- Decide where to buy Magellan Midstream Partners stock
- Sign up for a brokerage account
- Put funds into your investment account
- Evaluate Magellan Midstream Partners stock
- Place your MMP trade
- Track your MMP position
If you need a brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you want to get the latest scoop on your new investment in Magellan Midstream Partners, click below.
Trending Stock Buying Guides
FAQ
Company
AboutBlogStock Investing FAQPlansPrivacy PolicyTerms of ServiceCancellation & RefundsHelp GuidesContactTwitterYouTubeInformation is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.