November 28, 2016 - By Winifred Garcia · 0 Comments
Magellan Midstream Partners LP (NYSE:MMP) institutional sentiment increased to 1.19 in Q2 2016. Its up 0.33, from 0.86 in 2016Q1. The ratio is better, as 188 investment professionals increased and started new stock positions, while 218 trimmed and sold positions in Magellan Midstream Partners LP. The investment professionals in our partner’s database now have: 129.66 million shares, down from 138.72 million shares in 2016Q1. Also, the number of investment professionals holding Magellan Midstream Partners LP in their top 10 stock positions increased from 44 to 45 for an increase of 1. Sold All: 43 Reduced: 175 Increased: 144 New Position: 44.
Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The company has a market cap of $15.86 billion. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. It has a 19.86 P/E ratio.
The stock increased 0.26% or $0.18 on November 25, hitting $69.44. Magellan Midstream Partners, L.P. (NYSE:MMP) has declined 0.37% since April 25, 2016 and is downtrending. It has underperformed by 6.39% the S&P500.
Analysts await Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings on February, 2. They expect $0.94 earnings per share, up 9.30% or $0.08 from last year’s $0.86 per share. MMP’s profit will be $214.69M for 18.47 P/E if the $0.94 EPS becomes a reality. After $0.91 actual earnings per share reported by Magellan Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts 3.30% EPS growth.
According to Zacks Investment Research, “Magellan Midstream Partners, L.P., formerly Williams Energy Partners L.P., is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products and ammonia.”
Travelers Companies Inc. holds 20.26% of its portfolio in Magellan Midstream Partners, L.P. for 857,200 shares. Samson Capital Management Llc owns 234,739 shares or 15.04% of their US portfolio. Moreover, Walnut Private Equity Partners Llc has 13.73% invested in the company for 194,022 shares. The New York-based Heronetta Management L.P. has invested 12.11% in the stock. Selz Capital Llc, a New York-based fund reported 434,650 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 1 sale for $7,002 net activity.
Ratings analysis reveals 56% of Magellan Midstream Partners L.P.’s analysts are positive. Out of 16 Wall Street analysts rating Magellan Midstream Partners L.P., 9 give it “Buy”, 2 “Sell” rating, while 5 recommend “Hold”. The lowest target is $61 while the high is $91. The stock’s average target of $75.08 is 8.12% above today’s ($69.44) share price. MMP was included in 29 notes of analysts from August 7, 2015. The stock has “Hold” rating given by Stifel Nicolaus on Tuesday, August 11. On Wednesday, July 13 the stock rating was initiated by Ladenburg Thalmann with “Buy”. The rating was upgraded by Raymond James to “Strong Buy” on Monday, January 4. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Buy” rating by Raymond James on Saturday, August 8. As per Wednesday, January 6, the company rating was upgraded by UBS. The firm has “Underperform” rating by Credit Suisse given on Thursday, March 17. The firm has “Hold” rating by Wunderlich given on Monday, April 4. As per Tuesday, June 14, the company rating was initiated by Seaport Global. On Friday, April 29 the stock rating was maintained by RBC Capital Markets with “Outperform”. Credit Suisse upgraded the stock to “Outperform” rating in Monday, August 10 report.
Magellan Midstream Partners, L.P. (Magellan), incorporated on August 30, 2000, is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. The Company’s asset portfolio, including the assets of its joint ventures, consist of the Company’s refined products segment, consisting of Magellan’s over 9,500 mile refined products pipeline system with approximately 50 terminals, as well as over 30 independent terminals not connected to the Company’s pipeline system and its approximately 1,100-mile ammonia pipeline system; its crude oil segment, which consists of approximately 1,700 miles of crude oil pipelines and storage facilities, and its marine storage segment, consisting of over five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 30 million barrels. Magellan GP, LLC serves as its general partner. The Company’s products include refined products, liquefied petroleum gases, or LPGs, blendstocks, heavy oils and feedstocks, crude oil and condensate, biofuels and ammonia.
More notable recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Fool.com which released: “Magellan Midstream Partners LP Posts a Solid Quarter, Ups Guidance” on November 02, 2016, also Fool.com with their article: “Magellan Midstream Partners, LP in 5 Charts” published on September 16, 2016, Fool.com published: “How Risky Is Magellan Midstream Partners, LP?” on August 18, 2016. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) were released by: Forbes.com and their article: “Ex-Dividend Reminder: EnLink Midstream Partners, Magellan Midstream and …” published on October 25, 2016 as well as Fool.com‘s news article titled: “Better Buy: Magellan Midstream Partners LP vs. Kinder Morgan Inc.” with publication date: October 19, 2016.
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By Winifred Garcia