Lvw Advisors Lowers stake in Magellan Midstream Partners L.P. (MMP)

Magellan Midstream Partners L.P. (MMP) : Lvw Advisors reduced its stake in Magellan Midstream Partners L.P. by 3.68% during the most recent quarter end. The investment management company now holds a total of 10,244 shares of Magellan Midstream Partners L.P. which is valued at $733,573 after selling 391 shares in Magellan Midstream Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Magellan Midstream Partners L.P. makes up approximately 0.27% of Lvw Advisors’s portfolio.

Other Hedge Funds, Including , Boston Financial Mangement reduced its stake in MMP by selling 1,775 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 40,233 shares of MMP which is valued at $2,881,085. Magellan Midstream Partners L.P. makes up approx 0.23% of Boston Financial Mangement’s portfolio.Zwj Investment Counsel Inc reduced its stake in MMP by selling 267 shares or 8.67% in the most recent quarter. The Hedge Fund company now holds 2,812 shares of MMP which is valued at $198,837. Magellan Midstream Partners L.P. makes up approx 0.02% of Zwj Investment Counsel Inc’s portfolio.First Midwest Bank Trust Division reduced its stake in MMP by selling 40 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 6,055 shares of MMP which is valued at $433,417. Magellan Midstream Partners L.P. makes up approx 0.05% of First Midwest Bank Trust Division’s portfolio.Capital One National Association boosted its stake in MMP in the latest quarter, The investment management firm added 1,217 additional shares and now holds a total of 13,338 shares of Magellan Midstream Partners L.P. which is valued at $987,279. Magellan Midstream Partners L.P. makes up approx 0.08% of Capital One National Association’s portfolio.Brookstone Capital Management boosted its stake in MMP in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 4,413 shares of Magellan Midstream Partners L.P. which is valued at $326,650. Magellan Midstream Partners L.P. makes up approx 0.04% of Brookstone Capital Management’s portfolio.

Magellan Midstream Partners L.P. closed down -0.24 points or -0.34% at $69.63 with 6,16,383 shares getting traded on Tuesday. Post opening the session at $69.5, the shares hit an intraday low of $69.5 and an intraday high of $69.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 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.