Colston (shoulder) was present for the portion of Tuesday's practice that was open to the media, ESPN's Mike Triplett reports.

After suffering a separated shoulder in Sunday's loss to the Eagles, Colston seems unlikely to be ready for Thursday against the Falcons. Outside of very deep leagues, Colston's availability is only significant in terms of how it might impact the snap count of fellow wide receiver Wille Snead.

Colston suffered a separated shoulder Sunday against the Eagles, NFL Network's Ian Rapoport reports.

Per the report, Colston could also be dealing with some structural damage, with the New Orleans Times-Picayune relaying that the wideout is slated to have an MRI on Monday afternoon. At a minimum, we'd expect Colston to miss Thursday's game against the Falcons, with the veteran wideout's likely absence paving the way for Brandon Coleman to see his share of snaps in the Saints' offense, along with top wideout targets Brandin Cooks and Willie Snead.

Colston gathered in three balls (on five targets) for 36 yards, before leaving Sunday's game at Philadelphia with a shoulder injury, PennLive.com reports.

No details have emerged regarding the ailment, but Colston was donning a sling on his right arm following the contest, according to Evan Woodbery of the New Orleans Times-Picayune. While Colston's production has tailed off this season, his status will be one to watch as the week progresses.

Colston caught four passes on five targets for 19 yards in Sunday night's win against the Cowboys.

Colston was not much of a factor in Week 4, with Drew Brees seemingly limited to short throws due to his injured shoulder. Further, he once again lost playing time to second-year pro Willie Snead, who led the Saints with six catches for 89 yards, as Colston was on the field for only 41 of the Saints' 73 offensive plays (56 percent), according to the New Orleans Times-Picayune. Brees still looks to Colston when he wants to move the sticks on third down, but with Colston essentially becoming a part-time player in New Orleans, his upside is limited. The Saints will face the Eagles in Week 5.

Colston had four catches on six targets for 47 yards Sunday against the Panthers.

Despite a change in quarterback from Drew Brees (shoulder) to Josh McCown, Colston's production wasn't terribly different from the first two games of the season. Unfortunately, that wasn't good for fantasy owners, as Colston has not reached even 70 yards in a game this season while also failing to score a touchdown. McCown looked comfortable in the pocket, but Colston's fantasy upside is quite limited in a lot of formats right now with Brees injured.

Colston caught four passes on five targets for 69 yards in Sunday's loss to the Buccaneers.

Colston actually led the Saints in receiving yardage, but the offense once again struggled to get much going against a Buccaneers' defense that was shredded the previous week by rookie Marcus Mariota. Colston remains one of the few red zone threats for the Saints, who traded away Jimmy Graham this offseason, but with only 98 yards through two games and the offense looking out of sorts, Colston does not look like a particularly enticing fantasy option in Week 3 against the Panthers.

Colston did not catch any passes in Saturday's preseason game against the Patriots.

Colston played the entire first half, and while he only got one official target, he also drew a penalty and was targeted on a two-point attempt. Brandin Cooks, who is easily the favorite to lead New Orleans in targets this season, caught four passes for 117 yards and a touchdown. While no longer the team's No. 1 wideout, Colston could still be in for a pretty busy season, as the Saints otherwise lack proven receiving threats.

Colston (undisclosed) was removed from the Physically Unable to Perform list late last week, but still has provided no specifics as to what was ailing him this summer, reports Mike Triplett of ESPN.com. He says, however, that he and the team are simply trying to keep track of his "mileage.".

Colston will be entering his tenth season - all of which with quarterback Drew Brees under center - so managing his snaps during the first week or two is probably prudent. The bigger concern for fantasy owners is that Colston is coming off what was arguably the worst season of his career in 2014, as he's undeniably declining from his his peak form as he ages. Still, Colston's game has always been more size, strength and ball skills than speed. Sophomore speedster Brandin Cooks is expected to see an increase in responsibilities, but with the departure of Jimmy Graham this offseason, Colston could return to his touchdown-making ways as the Saints' primary red zone threat.

Colston (undisclosed) was placed on the PUP list Tuesday, the New Orleans Times-Picayune reports.

An injury has yet to be cited, but Colston will kick off his 10th training camp on the sideline. Keep in mind that the wideout can be activated from the preseason PUP list at any time, so there's little to worry about at this point in preparation for the upcoming campaign.

Colston restructured his contract to remain with the Saints, Larry Holder of the New Orleans Times-Picayune reports.

A rumored cap casualty, Colston will apparently stick around for at least one more year in the only NFL home he's ever known. He'll be 32 by the beginning of the 2015 season, and while he's declined from his peak form, he seemingly still has something left to offer. He finished 2014 with a 59-902-5 receiving line in 16 games, and with the Saints boasting some young talent in the receiving corps, it would be unwise to expect much more in 2015.

Although the Saints must trim somewhere between $20 million and $30 million in salary-cap space, Mike Triplett of ESPN.com believes that the Saints will find a way to keep Colston in New Orleans for a 10th season by working out a pay cut with him. Colston, 31 years old, is due $7 million in salary and bonuses in 2015, plus another $7.8 million in 2016.

Colston's 2014 totals of 59 catches, 902 yards and five touchdowns all set or matched career lows in a healthy season. He also struggled with dropped passes. While it's certainly possible that the Saints could move forward with a young core of receivers (Brandin Cooks, Kenny Stills, Nick Toon, Jalen Saunders, Seantavius Jones and Brandon Coleman - flanked by tight end Jimmy Graham, who is essentially the team's No. 1 receiver), Colston led the Saints' receivers in snaps played last year by more than 200. As such, Colston may not be easy to replace, despite his recent decline in production. For fantasy purposes, Colston's value will almost certainly be higher in New Orleans, where he has the trust and accurate arm of Drew Brees, than elsewhere.

Colston caught two passes on seven targets for 51 yards, including the game-winning 36-yard touchdown reception, in Sunday's season-ending win against the Buccaneers.

Colston took a short pass the distance with only 1:57 remaining in the game to propel New Orleans to an emotional victory in what could potentially be his final game as a Saint, as he's due $7 million in salary and bonuses in 2015. While the Saints would love to have him back, it's going to be hard to justify his hefty salary, particularly since it's clear he's lost a step, after finishing the season with 59 catches for 902 yards and five touchdowns - all of which set or matched career lows in a healthy season. The only year his numbers were lower was 2008, when he missed five games due to injury. With the team faced with a daunting salary cap situation, the 31-year old Colston may need to restructure his contract or take a pay cut to remain with the team that took a chance on him with the 252nd overall pick of the 2006 draft.

Colston had six catches on 10 targets for a team-high 80 yards during Sunday's loss to the Falcons, which eliminated the Saints from playoff contention.

Colston came into the game with three touchdowns in the last four games, but quarterback Drew Brees' lone touchdown pass went to tight end Jimmy Graham. Colston hasn't even reached 85 receiving yards since Week 7 against the Lions, so a high-yardage output may not be in the cards for Week 17 against the Bucs, against whom he had three catches on six targets for 63 yards against back in Week 5.

Colston caught 5-of-7 targets for 65 yards and a touchdown in Monday's 31-15 win over the Bears.

The touchdown was vintage Colston, as he out-muscled a defensive back on a slant route to pull in a perfect throw from Drew Brees. While he still shouldn't be viewed as an especially consistent option, Colston surprisingly has three touchdowns over the past four weeks, with 65 or more receiving yards in three of those games. He also gets a favorable Week 16 matchup, with the Saints heading home to face the Falcons.

Colston caught five passes on seven targets for 72 yards in Sunday's loss to the Panthers.

Colston's 72 receiving yards easily led the Saints, which says more about the team's offensive struggles on the afternoon than anything else. Down big early, the team took to the air, throwing 49 passes compared to 17 runs, and Colston did most of his damage in the sec on half after the game was well out of reach. With the Saints' offense hot-and-cold all year, Colston remains a shaky fantasy play for owners still in the thick of the competition.

Colston caught three passes on five targets for 16 yards, including a three-yard touchdown grab, in Sunday's win against the Steelers.

Colston's day was salvaged by his short touchdown reception, but with Drew Brees spreading the ball to nine different players - most of which went to Kenny Stills - Colston was able to do very little. He's almost completely lost his ability to stretch the field, making him a tough option to trust at this critical juncture of the season, but he's still a red-zone threat, with touchdowns in each of his last two games, and Colston and the Saints get a Carolina defense that ranks among the league's worst in defending the pass in Week 14.

Colston caught 4-of-4 targets for 82 yards and a touchdown in Monday's 34-27 win over the Ravens.

Colston caught three passes for 54 yards in the second quarter, highlighted by a 26-yard touchdown in double coverage. He was mostly quiet for the rest of the game, and again showed minimal ability to separate from defensive backs. Colston finished with five or fewer targets for a fourth time in the last five games, even though Drew Brees attempted 45 passes. Jimmy Graham (10 targets), Kenny Stills (nine), Pierre Thomas (eight) and Nick Toon (five) all drew more looks.

Colston had four catches on a team-high eight targets for 56 yards Sunday against the Bengals.

Colston also led the Saints in receiving yards, though Kenny Stills, Travaris Cadet and Erik Lorig all finished with the same number of receptions, while Brandin Cooks finished with one more. Colston left the game briefly with an injury, but was able to come back in fairly quickly to post his highest receiving-yards total in the last four games. Up next is a Week 12 matchup against the Ravens on Monday Night Football, when Colston will look to score his first touchdown since Week 3.

Colston caught two passes on four targets for 36 yards in Sunday's loss to the 49ers.

With Jimmy Graham (10 catches on 13 targets) and Brandin Cooks (five catches on eight targets) commanding the attention of Drew Brees, there was little left for Colston. It actually could have been much worse too, but he managed to squirm away on a short reception for 24 yards late in the fourth quarter. Up next is a favorable Week 11 matchup against a Bengals' defense that ranks 19th against the pass, but as long as the Saints have a healthy complement of pass catchers, particularly Graham, Colston will be a touchdown-dependent, boom-or-bust option in the Saints' spread-the-wealth attack.

Colston caught 3-of-3 targets for 36 yards in Thursday's 28-10 win over the Panthers.

Colston's targets have been all over the map on a week-to-week basis this season, but his current average of six per game is about what can be expected going forward. Only a healthy Jimmy Graham seems to be ensured of consistent looks in the New Orleans offense, as some of the targets that used to go to Colston have been spread out to other players. Based on the per-target production, the Saints may even want to consider using a bit more Kenny Stills and a bit less of their 31-year-old mainstay.