As Magellan Midstream Prtnrs LP (MMP) Shares Declined, Eagle Global Advisors LLC Has Cut Stake by $5.24 Million

July 18, 2017 - By Stephen Andrade

Investors sentiment decreased to 0.81 in Q4 2016. Its down 0.38, from 1.19 in 2016Q3. It turned negative, as 38 investors sold MMP shares while 169 reduced holdings. 41 funds opened positions while 127 raised stakes. 134.82 million shares or 3.13% less from 139.16 million shares in 2016Q3 were reported. Cypress Group holds 1.11% or 61,915 shares. Cap Advisors Incorporated Ok owns 12,390 shares or 0.07% of their US portfolio. Blair William Com Il stated it has 328,814 shares or 0.22% of all its holdings. Wade G W Inc holds 0.12% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 9,538 shares. Fin Advisory Service reported 0.11% stake. Independent Portfolio Consultants stated it has 0.06% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Eagle Global Ltd Liability Corporation invested in 2.64 million shares. 41,001 were reported by Carnegie Asset Mngmt Ltd Liability Com. Duncker Streett And Co holds 0.4% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 15,765 shares. Cv Starr And Incorporated Tru invested in 5.65% or 175,000 shares. Mckinley Mgmt Ltd Company Delaware reported 20,032 shares or 0.06% of all its holdings. Mirador Capital Limited Partnership holds 0.2% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 3,305 shares. Cfo4life Limited Partnership owns 5,022 shares. Whittier Of Nevada Inc has invested 0.02% in Magellan Midstream Partners, L.P. (NYSE:MMP). 43,100 are held by Prtn Group Inc Holdg Ag.

Since February 3, 2017, it had 0 buys, and 4 sales for $5.72 million activity. The insider Selvidge Jeff R sold 5,000 shares worth $400,000. Shares for $3.94 million were sold by MEARS MICHAEL N on Friday, February 3. The insider May Douglas J sold 8,000 shares worth $600,000. Korner Lisa J had sold 10,000 shares worth $786,700 on Wednesday, February 8.

Eagle Global Advisors Llc decreased its stake in Magellan Midstream Prtnrs Lp (MMP) by 2.57% based on its latest 2016Q4 regulatory filing with the SEC. Eagle Global Advisors Llc sold 69,811 shares as the company’s stock declined 7.68% while stock markets rallied. The hedge fund held 2.64M shares of the natural gas distribution company at the end of 2016Q4, valued at $199.85 million, down from 2.71 million at the end of the previous reported quarter. Eagle Global Advisors Llc who had been investing in Magellan Midstream Prtnrs Lp for a number of months, seems to be less bullish one the $15.86 billion market cap company. It closed at $70.9 lastly. It is down 3.55% since July 18, 2016 and is uptrending. It has underperformed by 13.15% the S&P500.

Eagle Global Advisors Llc, which manages about $3.60 billion and $3.66 billion US Long portfolio, upped its stake in Energy Transfer Equity LP (NYSE:ETE) by 720,936 shares to 9.26 million shares, valued at $178.73M in 2016Q4, according to the filing. It also increased its holding in Plains All Amern Pipeline L (NYSE:PAA) by 156,084 shares in the quarter, for a total of 4.76 million shares, and has risen its stake in Teekay Offshore Partners LP (NYSE:TOO).

Wall Street await Magellan Midstream Partners, L.P. (NYSE:MMP) to release earnings on August, 1. Analysts forecast earnings per share of $0.92, up exactly $0.10 or 12.20 % from 2014’s $0.82 EPS. The expected MMP’s profit could reach $205.80 million giving the stock 19.27 P/E in the case that $0.92 earnings per share is reported. After posting $0.98 EPS for the previous quarter, Magellan Midstream Partners, L.P.’s analysts now forecast -6.12 % negative EPS growth.

More notable recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Fool.com which released: “Magellan Midstream Partners’ Most Brilliant Moves in 2017 So Far” on July 11, 2017, also Gurufocus.com with their article: “Take Advantage of Magellan Midstream Partners at 14% Off Its 52-Week High” published on June 30, 2017, Seekingalpha.com published: “Magellan Midstream Partners Is Buy” on June 19, 2017. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) were released by: Reuters.com and their article: “Repairs to Magellan’s Longhorn pipeline completed, operations resumed: spokesman” published on July 16, 2017 as well as Nasdaq.com‘s news article titled: “Plains All American, Magellan Midstream Launch Open Season” with publication date: July 07, 2017.

Magellan Midstream Partners, L.P. (NYSE:MMP) Ratings Coverage

Among 20 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 9 have Buy rating, 2 Sell and 9 Hold. Therefore 45% are positive. Magellan Midstream Partners L.P. had 41 analyst reports since August 7, 2015 according to SRatingsIntel. The stock has “Equal-Weight” rating by Morgan Stanley on Thursday, February 25. The firm earned “Outperform” rating on Friday, April 29 by RBC Capital Markets. The stock has “Neutral” rating by UBS on Friday, February 3. The firm has “Neutral” rating given on Friday, May 5 by Credit Suisse. The rating was downgraded by Credit Suisse to “Underperform” on Thursday, March 17. The stock has “Hold” rating by Stifel Nicolaus on Tuesday, August 11. The rating was maintained by Citigroup with “Buy” on Friday, August 7. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Buy” rating by Raymond James on Saturday, August 8. The firm has “Buy” rating given on Monday, December 19 by Ladenburg Thalmann. The stock has “Buy” rating by UBS on Wednesday, January 6.

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