Fiduciary Financial Services Of The Southwest Inc Tx Lowers stake in Magellan Midstream Partners L.P. (MMP)

Magellan Midstream Partners L.P. (MMP) : Fiduciary Financial Services Of The Southwest Inc Tx reduced its stake in Magellan Midstream Partners L.P. by 2.59% during the most recent quarter end. The investment management company now holds a total of 157,686 shares of Magellan Midstream Partners L.P. which is valued at $11 Million after selling 4,185 shares in Magellan Midstream Partners L.P. , the firm said in a disclosure report filed with the SEC on May 13, 2016.Magellan Midstream Partners L.P. makes up approximately 3.83% of Fiduciary Financial Services Of The Southwest Inc Tx’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in MMP by selling 19,700 shares or 16.75% in the most recent quarter. The Hedge Fund company now holds 97,900 shares of MMP which is valued at $6.8 Million. Magellan Midstream Partners L.P. makes up approx 0.01% of Allianz Asset Management Ag’s portfolio.Solaris Asset Management reduced its stake in MMP by selling 8,292 shares or 42.85% in the most recent quarter. The Hedge Fund company now holds 11,058 shares of MMP which is valued at $770,521. Magellan Midstream Partners L.P. makes up approx 0.54% of Solaris Asset Management’s portfolio.Washington Trust Co boosted its stake in MMP in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 4,616 shares of Magellan Midstream Partners L.P. which is valued at $330,506. Magellan Midstream Partners L.P. makes up approx 0.02% of Washington Trust Co’s portfolio.Sandy Spring Bank boosted its stake in MMP in the latest quarter, The investment management firm added 358 additional shares and now holds a total of 70,998 shares of Magellan Midstream Partners L.P. which is valued at $5.1 Million. Magellan Midstream Partners L.P. makes up approx 0.58% of Sandy Spring Bank’s portfolio.Deschutes Portfolio Strategy boosted its stake in MMP in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 3,570 shares of Magellan Midstream Partners L.P. which is valued at $255,612. Magellan Midstream Partners L.P. makes up approx 0.13% of Deschutes Portfolio Strategy’s portfolio.

Magellan Midstream Partners L.P. opened for trading at $70.74 and hit $71.56 on the upside on Wednesday, eventually ending the session at $70.68, with a gain of 0.31% or 0.22 points. The heightened volatility saw the trading volume jump to 5,63,479 shares. Company has a market cap of $16,100 M.

On the company’s financial health, Magellan Midstream Partners L.P. reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.86. The company had revenue of $530.30 million for the quarter, compared to analysts expectations of $542.80 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Magellan Midstream Partners L.P.. Magellan Midstream Partners L.P. was Downgraded by Stifel to ” Hold” on May 5, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 69 from a previous price target of $61 .Wunderlich Downgraded Magellan Midstream Partners L.P. on Apr 4, 2016 to ” Hold”, Price Target of the shares are set at $68.

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.

Leave a Reply

Magellan Midstream Partners L.P. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Magellan Midstream Partners L.P.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.