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

July 18, 2017 - By Richard Conner

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. 39,735 were accumulated by Chilton Cap Mngmt Limited Liability Company. 36 were accumulated by Vantage Advisors. Qci Asset Mgmt New York has invested 0% in Magellan Midstream Partners, L.P. (NYSE:MMP). Kistler stated it has 0.03% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Douglass Winthrop Advsrs stated it has 0.03% in Magellan Midstream Partners, L.P. (NYSE:MMP). The Indiana-based First Corporation In has invested 0.05% in Magellan Midstream Partners, L.P. (NYSE:MMP). Pinnacle Assoc Limited accumulated 18,462 shares. Neuberger Berman Gp Limited Liability Company invested in 0.03% or 282,220 shares. Beacon Trust holds 0.06% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 5,200 shares. Duncker Streett And Co Incorporated holds 0.4% or 15,765 shares in its portfolio. San Francisco Sentry Investment Group (Ca) reported 0.59% stake. Oakworth Capital Inc has 5 shares for 0% of their portfolio. Fayez Sarofim invested 0.01% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). The Massachusetts-based Welch & Forbes Ltd Liability has invested 0.01% in Magellan Midstream Partners, L.P. (NYSE:MMP). Corecommodity Mngmt Lc holds 0.15% or 2,306 shares.

Since February 3, 2017, it had 0 insider purchases, and 4 sales for $5.72 million activity. 50,000 shares were sold by MEARS MICHAEL N, worth $3.94 million on Friday, February 3. Selvidge Jeff R sold 5,000 shares worth $400,000. $786,700 worth of Magellan Midstream Partners, L.P. (NYSE:MMP) was sold by Korner Lisa J 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 2.64 million shares of the natural gas distribution company at the end of 2016Q4, valued at $199.85M, down from 2.71M 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 $3.60B and $3.66 billion US Long portfolio, upped its stake in Shell Midstream Partners LP by 116,354 shares to 1.61M shares, valued at $46.84M in 2016Q4, according to the filing. It also increased its holding in Hoegh Lng Partners Lp (NYSE:HMLP) by 301,963 shares in the quarter, for a total of 906,793 shares, and has risen its stake in Genesis Energy LP (NYSE:GEL).

Investors wait Magellan Midstream Partners, L.P. (NYSE:MMP) to report on August, 1. its quarterly earnings Wall Street analysts expect $0.92 earnings per share, up $0.10 or 12.20 % from last year’s $0.82 same quarter earnings. This translates into $205.80 million profit for MMP giving the stock a 19.27 P/E. This is assuming the current $0.92 EPS is accurate. Magellan Midstream Partners, L.P.’s Wall Street analysts see -6.12 % negative EPS growth, taking into account the $0.98 EPS reproted in the previous quarter,

More notable recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Reuters.com which released: “Repairs to Magellan’s Longhorn pipeline completed, operations resumed: spokesman” on July 16, 2017, also Nasdaq.com with their article: “Plains All American, Magellan Midstream Launch Open Season” published on July 07, 2017, Fool.com published: “Magellan Midstream Partners’ Most Brilliant Moves in 2017 So Far” on July 11, 2017. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) were released by: Fool.com and their article: “I Still Can’t Believe Magellan Midstream Partners LP Spent $335 Million on …” published on June 26, 2017 as well as Gurufocus.com‘s news article titled: “Take Advantage of Magellan Midstream Partners at 14% Off Its 52-Week High” with publication date: June 30, 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. UBS downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) rating on Friday, February 3. UBS has “Neutral” rating and $81 target. On Saturday, August 8 the stock rating was maintained by Raymond James with “Buy”. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Hold” rating by Stifel Nicolaus on Tuesday, August 11. As per Friday, August 7, the company rating was upgraded by Credit Suisse. The company was maintained on Friday, August 7 by Citigroup. The company was upgraded on Monday, August 10 by Credit Suisse. The firm earned “Buy” rating on Tuesday, June 14 by Seaport Global. The stock has “Outperform” rating by RBC Capital Markets on Friday, April 29. The rating was maintained by Argus Research on Monday, August 10 with “Buy”. As per Thursday, August 18, the company rating was downgraded by Morgan Stanley.

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