Magellan Midstream Partners Lp (MMP) Files Form 4 Insider Selling : Jeff R Selvidge Sells 5,504 Shares

Magellan Midstream Partners Lp (MMP): Jeff R Selvidge , Senior Vice President of Magellan Midstream Partners Lp sold 5,504 shares on May 6, 2016. The Insider selling transaction was reported by the company on May 10, 2016 to the Securities and Exchange Commission. The shares were sold at $72.00 per share for a total value of $396,288.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Mar 7, 2016, Michael N Mears (President & CEO) sold 20,000 shares at $70.71 per share price.On Mar 2, 2016, Jeff R Selvidge (Senior Vice President) sold 7,500 shares at $68.25 per share price.Also, On Mar 2, 2016, Douglas J May (Senior Vice President) sold 8,000 shares at $68.25 per share price.On May 22, 2015, Robert L Barnes (Senior Vice President) sold 3,600 shares at $81.87 per share price.

Magellan Midstream Partners L.P.: On Friday, May 6, 2016 heightened volatility was witnessed in Magellan Midstream Partners L.P. which led to swings in the share price. The shares opened for trading at $70.62 and hit $72.37 on the upside , eventually ending the session at $71.6, with a gain of 0.96% or 0.68 points. The heightened volatility saw the trading volume jump to 10,70,052 shares. The 52-week high of the share price is $85.31 and the company has a market cap of $16,309 M . The 52-week low of the share price is at $54.51.

Magellan Midstream Partners L.P. Money Flow Index Chart

Company has been under the radar of several Street Analysts.Magellan Midstream Partners L.P. is Downgraded by Stifel to Hold. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 5, 2016.Magellan Midstream Partners L.P. is Reiterated by RBC Capital Mkts to Outperform and the brokerage firm has raised the Price Target to $ 69 from a previous price target of $61 .The Rating was issued on Apr 29, 2016.Magellan Midstream Partners L.P. is Downgraded by Wunderlich to Hold and the brokerage firm has set the Price Target at $68. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Apr 4, 2016.Magellan Midstream Partners L.P. is Initiated by Morgan Stanley to Equal-Weight. The Rating was issued on Feb 25, 2016.

Magellan Midstream Partners L.P. (Magellan) is engaged in the transportation storage and distribution of refined petroleum products and crude oil. The Company’s business segments include Refined Products Crude Oil and Marine Storage. The Company’s refined products segment consists of Magellan’s 9500-mile refined products pipeline system with 53 terminals as well as 27 independent terminals not connected to the Company’s pipeline system and its 1100-mile ammonia pipeline system. Magellan’s crude oil segment consists of approximately 1600 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 21 million barrels of which 12 million is used for leased storage. Its marine storage segment consists of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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