Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Magellan Midstream Partners (MMP)

Tulsa, OK-based Magellan Midstream Partners, L.P. is a master limited partnership (MLP) that owns and operates a diversified portfolio of energy infrastructure assets. The partnership primarily transports, stores, and distributes refined petroleum products and, to a lesser extent, ammonia. Magellan Midstream has the longest refined petroleum pipeline system in the U.S. with access to almost half of the total domestic refining capacity.

MMP sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 10.9% and up 8.5% over the past one-week and four-week period, respectively, and Magellan Midstream Partners has gained 21.4% in the last one-year period as well. Additionally, an average of 1,757,795.25 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company's earnings. For MMP, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.14 to $4.95 per share for 2023. MMP boasts an average earnings surprise of 3.8%.

MMP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Magellan Midstream Partners, L.P. (MMP) : Free Stock Analysis Report

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