Texas Yale Capital Corp. buys $25.8 Million stake in Magellan Midstream Partners L.P. (MMP)

Magellan Midstream Partners L.P. (MMP) : Texas Yale Capital Corp. scooped up 4,719 additional shares in Magellan Midstream Partners L.P. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 370,641 shares of Magellan Midstream Partners L.P. which is valued at $25.8 Million.Magellan Midstream Partners L.P. makes up approximately 2.71% of Texas Yale Capital Corp.’s portfolio.

Other Hedge Funds, Including , Global Endowment Management Lp added MMP to its portfolio by purchasing 20,800 company shares during the most recent quarter which is valued at $1.4 Million. Magellan Midstream Partners L.P. makes up approx 0.30% of Global Endowment Management Lp’s portfolio. Balentine sold out all of its stake in MMP during the most recent quarter. The investment firm sold 6,197 shares of MMP which is valued $431,807.Lvw Advisors boosted its stake in MMP in the latest quarter, The investment management firm added 2,885 additional shares and now holds a total of 10,635 shares of Magellan Midstream Partners L.P. which is valued at $741,047. Magellan Midstream Partners L.P. makes up approx 0.24% of Lvw Advisors’s portfolio.Hedeker Wealth Management Group reduced its stake in MMP by selling 110 shares or 1.53% in the most recent quarter. The Hedge Fund company now holds 7,090 shares of MMP which is valued at $494,031. Magellan Midstream Partners L.P. makes up approx 0.46% of Hedeker Wealth Management Group’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.

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