Magellan Midstream (MMP) Shareholder Pinnacle Holdings LLC Decreased Stake as Stock Value Declined

May 26, 2018 - By Kurt Siggers

Investors sentiment decreased to 0.76 in Q4 2017. Its down 0.14, from 0.9 in 2017Q3. It turned negative, as 35 investors sold MMP shares while 186 reduced holdings. 49 funds opened positions while 118 raised stakes. 134.60 million shares or 0.07% more from 134.51 million shares in 2017Q3 were reported. Moreover, Johnson Counsel Inc has 0.03% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 14,436 shares. 1,664 are owned by Parkside Bancshares. Exane Derivatives invested in 16 shares. Fulton Bankshares Na has 7,265 shares. Sumitomo Mitsui Tru Holdg holds 152,000 shares or 0.01% of its portfolio. Private Company Na stated it has 17,605 shares or 0.26% of all its holdings. 159 were reported by Highstreet Asset. Blackstone Grp Lp invested in 1.40M shares or 0.4% of the stock. Private Asset Management accumulated 3,338 shares or 0.04% of the stock. Credit Suisse Ag owns 0.02% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 263,422 shares. Brookfield Asset Mngmt Inc stated it has 1.57 million shares or 0.46% of all its holdings. Whittier Tru Comm Of Nevada Inc reported 100 shares. Switzerland-based Ptnrs Group Ag has invested 0.29% in Magellan Midstream Partners, L.P. (NYSE:MMP). Neville Rodie Shaw accumulated 3,250 shares or 0.02% of the stock. Beach Investment Mgmt Ltd Liability Com stated it has 48,272 shares.

Since February 12, 2018, it had 0 insider buys, and 1 insider sale for $1.51 million activity.

Pinnacle Holdings Llc decreased its stake in Magellan Midstream (MMP) by 0.85% based on its latest 2017Q4 regulatory filing with the SEC. Pinnacle Holdings Llc sold 700 shares as the company’s stock declined 17.74% with the market. The hedge fund held 81,208 shares of the natural gas distribution company at the end of 2017Q4, valued at $5.76 billion, down from 81,908 at the end of the previous reported quarter. Pinnacle Holdings Llc who had been investing in Magellan Midstream for a number of months, seems to be less bullish one the $15.65 billion market cap company. The stock decreased 0.35% or $0.24 during the last trading session, reaching $68.6. About 818,977 shares traded. Magellan Midstream Partners, L.P. (NYSE:MMP) has declined 24.45% since May 26, 2017 and is downtrending. It has underperformed by 36.00% the S&P500.

Pinnacle Holdings Llc, which manages about $720.48 million and $275.17 billion US Long portfolio, upped its stake in Freddie Mac (FMCKI) by 6,805 shares to 155,105 shares, valued at $1.03B in 2017Q4, according to the filing. It also increased its holding in Plains All American Pipeline (NYSE:PAA) by 840 shares in the quarter, for a total of 12,709 shares, and has risen its stake in American Express (NYSE:AXP).

Analysts await Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings on August, 1. They expect $1.00 earnings per share, up 8.70 % or $0.08 from last year’s $0.92 per share. MMP’s profit will be $228.19 million for 17.15 P/E if the $1.00 EPS becomes a reality. After $1.05 actual earnings per share reported by Magellan Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts -4.76 % negative EPS growth.

More important recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Investorplace.com which released: “5 MLPs That Should Crush the Market in 2018” on May 17, 2018, also Globenewswire.com published article titled: “Recent Analysis Shows Camden Property Trust, Biglari, Argan, Chimerix, Workhorse Group, and Magellan Midstream …”, Nasdaq.com published: “3 High-Yield Stocks Still Worth Buying” on May 21, 2018. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) was released by: Investorplace.com and their article: “Exxon Mobil Corporation Leads 6 Dividend Stocks Boosting Payouts” with publication date: April 30, 2018.

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

Among 13 analysts covering Magellan Midstream (NYSE:MMP), 6 have Buy rating, 3 Sell and 4 Hold. Therefore 46% are positive. Magellan Midstream had 17 analyst reports since December 11, 2017 according to SRatingsIntel. The company was maintained on Friday, March 16 by Morgan Stanley. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Hold” rating by Stifel Nicolaus on Friday, February 2. The firm has “Neutral” rating given on Tuesday, March 13 by JP Morgan. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Hold” rating by RBC Capital Markets on Thursday, February 1. RBC Capital Markets maintained the shares of MMP in report on Tuesday, January 16 with “Hold” rating. The firm has “Equal-Weight” rating given on Tuesday, April 17 by Barclays Capital. The firm earned “Buy” rating on Friday, February 2 by Bank of America. The firm has “Buy” rating given on Tuesday, March 27 by Bank of America. The rating was upgraded by RBC Capital Markets to “Outperform” on Monday, April 9. Barclays Capital maintained the stock with “Equal-Weight” rating in Friday, February 2 report.

Magellan Midstream Partners, L.P. (NYSE:MMP) Institutional Positions Chart

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