Magellan Midstream Partners is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. Co.'s refined products segment consists of: refined products pipeline system, which provides pipeline capacity and tank storage services, as well as provides services such as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing and data services to shippers; independent terminals, which provides ancillary services; and marine terminals, which provides storage and related services. Co.'s crude oil segment includes crude oil pipelines, a condensate splitter and storage facilities. We show 56 historical shares outstanding datapoints in our MMP shares outstanding history coverage, used to compute MMP market cap on those dates.
Understanding the changing numbers of shares outstanding, the changing
share price, and the resulting changing MMP market cap history over the course of time is important for investors
interested in comparing MMP's market cap history versus its peers.
Many "beginner" or "novice" investors will look at one stock trading at a price of $10 per share and another trading at
a price of $20 per share and think the latter company is worth twice as much. Of course, that is a completely meaningless comparison without also knowing how many shares outstanding there are for each of the two companies,
and then calculating their respective market caps. Comparing the share price of MMP versus a peer is one thing; comparing
MMP market cap versus a peer is a completely different story.
Furthermore, via fluctuation both in per-share price and in the number of shares outstanding (via issuance of new shares over time, the repurchase of existing shares),
the market cap for a company like MMP can fluctuate over the course of history.
With this page we aim to empower investors researching MMP by allowing them to research the MMP market cap history. |
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Video: The Importance of Market Cap
