Magellan Midstream Partners L.P. (MMP) : Chicago Partners Investment Group reduced its stake in Magellan Midstream Partners L.P. by 8.65% during the most recent quarter end. The investment management company now holds a total of 107,587 shares of Magellan Midstream Partners L.P. which is valued at $7,607,477 after selling 10,190 shares in Magellan Midstream Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Magellan Midstream Partners L.P. makes up approximately 3.54% of Chicago Partners Investment Group’s portfolio.
Other Hedge Funds, Including , Columbia Asset Management boosted its stake in MMP in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 4,260 shares of Magellan Midstream Partners L.P. which is valued at $301,225. Magellan Midstream Partners L.P. makes up approx 0.10% of Columbia Asset Management’s portfolio. Douglas Lane Associates added MMP to its portfolio by purchasing 3,900 company shares during the most recent quarter which is valued at $279,162. Magellan Midstream Partners L.P. makes up approx 0.01% of Douglas Lane Associates’s portfolio.Murphy Capital Management Inc reduced its stake in MMP by selling 3,745 shares or 5.69% in the most recent quarter. The Hedge Fund company now holds 62,029 shares of MMP which is valued at $4,591,387. Magellan Midstream Partners L.P. makes up approx 0.69% of Murphy Capital Management Inc’s portfolio.
Magellan Midstream Partners L.P. closed down -0.98 points or -1.37% at $70.63 with 10,40,271 shares getting traded on Monday. Post opening the session at $72.09, the shares hit an intraday low of $70.32 and an intraday high of $72.5299 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Magellan Midstream Partners L.P. reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.78. The company had revenue of $518.90 million for the quarter, compared to analysts expectations of $516.56 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Magellan Midstream Partners L.P. (Magellan) is engaged in the transportation storage and distribution of refined petroleum products and crude oil. The Companys business segments include Refined Products Crude Oil and Marine Storage. The Companys refined products segment consists of Magellans 9500-mile refined products pipeline system with 53 terminals as well as 27 independent terminals not connected to the Companys pipeline system and its 1100-mile ammonia pipeline system. Magellans 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.