Magellan Midstream Partners L.P. (MMP) : Homrich Berg reduced its stake in Magellan Midstream Partners L.P. by 23.17% during the most recent quarter end. The investment management company now holds a total of 61,358 shares of Magellan Midstream Partners L.P. which is valued at $4,393,846 after selling 18,503 shares in Magellan Midstream Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Magellan Midstream Partners L.P. makes up approximately 0.40% of Homrich Berg’s portfolio.
Other Hedge Funds, Including , Wms Partners reduced its stake in MMP by selling 400 shares or 8.7% in the most recent quarter. The Hedge Fund company now holds 4,200 shares of MMP which is valued at $300,762. Magellan Midstream Partners L.P. makes up approx 0.04% of Wms Partners’s portfolio. Thompson Siegel Walmsley added MMP to its portfolio by purchasing 2,708 company shares during the most recent quarter which is valued at $189,912.Noesis Capital Mangement Corp reduced its stake in MMP by selling 500 shares or 2.56% in the most recent quarter. The Hedge Fund company now holds 19,050 shares of MMP which is valued at $1,335,977. Magellan Midstream Partners L.P. makes up approx 0.57% of Noesis Capital Mangement Corp’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in MMP by selling 432 shares or 3.09% in the most recent quarter. The Hedge Fund company now holds 13,543 shares of MMP which is valued at $996,359. Magellan Midstream Partners L.P. makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.
Magellan Midstream Partners L.P. closed down -1.29 points or -1.81% at $70.01 with 6,90,568 shares getting traded on Friday. Post opening the session at $70.95, the shares hit an intraday low of $69.94 and an intraday high of $71.25 and the price fluctuated in this range throughout the day.Shares ended Friday 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.
Many Wall Street Analysts have commented on Magellan Midstream Partners L.P.. Magellan Midstream Partners L.P. was Downgraded by Morgan Stanley to ” Underweight” on Aug 18, 2016.
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.