As Magellan Midstream Prtnrs LP (MMP) Shares Rose, Eagle Global Advisors LLC Decreased Stake by $8.97 Million

June 27, 2018 - By Ira Colvard

During 2018 Q1 the big money sentiment increased to 0.78. That’s change of 0.02, from 2017Q4’s 0.76. 48 investors sold all, 175 reduced holdings as MMP ratio improved. 131 grew holdings while 42 funds bought holdings. Funds hold 135.98 million shares thus 1.03% more from 2017Q4’s 134.60 million shares. 1,874 are held by Plante Moran Financial Advisors Limited Liability Corporation. Highstreet Asset Mgmt Inc holds 0% of its capital in Magellan Midstream Partners, L.P. (NYSE:MMP) for 159 shs. Associated Banc holds 10,002 shs. Envestnet Asset reported 0% of its capital in Magellan Midstream Partners, L.P. (NYSE:MMP). Monroe Financial Bank Mi holds 3,055 shs. Verity Verity Ltd Com has invested 0.71% in Magellan Midstream Partners, L.P. (NYSE:MMP). Leavell Invest Mngmt invested in 89,777 shs. Jnba Financial Advisors invested in 0% or 106 shs. Commerce Bank reported 7,520 shs. Fmr Ltd invested in 211,300 shs. Obermeyer Wood Counsel Lllp reported 0.09% of its capital in Magellan Midstream Partners, L.P. (NYSE:MMP). Parsec Fincl has invested 0.01% in Magellan Midstream Partners, L.P. (NYSE:MMP). Carnegie Cap Asset Management Ltd Liability Corporation stated it has 0.22% of its capital in Magellan Midstream Partners, L.P. (NYSE:MMP). Clearbridge Investments Ltd Liability Co invested in 0.19% or 3.37 million shs. The Ohio-based Fort Washington Advsrs Incorporated Oh has invested 0.2% in Magellan Midstream Partners, L.P. (NYSE:MMP).

MMP had 1 insider sale and 0 insider purchases since February 12, 2018. This’s net activity of $1.51 million.

According to 2018Q1 SEC filling the Eagle Global Advisors Llc decreased its stake in Magellan Midstream Prtnrs Lp (MMP) by 7.73%. 154,653 shares were sold by Eagle Global Advisors Llc as the company’s stock rose 5.46% while stock markets declined. The natural gas distribution company reported $107.71 million value for the 2018Q1. Now the hedge fund is holding 1.85 million shares, compared to the 2.00M from the previous quarter. Magellan Midstream Prtnrs Lp has $15.86B MC. Ticker’s shares touched $69.52 during the last trading session after 1.42% change.Currently Magellan Midstream Partners, L.P. is downtrending after 7.22% change in last June 27, 2017. MMP has 521,843 shares volume. MMP underperformed the S&P500 by 19.79%.

According to a filing Eagle Global Advisors Llc rose its stake in Plains Gp Hldgs LP by 469,083 shares to 2.72M shares, valued at $59.21 million in 2018Q1. The fund operates about $3.60 billion and $2.90 billion US Long portfolio. For a total of 99,776 shares it increased its holding in Halliburton Co (NYSE:HAL) by 95,421 shares in the quarter, and has risen its stake in Enterprise Prods Partners L (NYSE:EPD).

Magellan Midstream Partners, L.P. (NYSE:MMP) is expected to report earnings on August, 1., Zacks reports. Analysts forecast $1.00 EPS. That’s $0.08 up or 8.70 % from 2017’s earnings of $0.92. If the current EPS of $1.00 is accurate, MMP’s profit could reach $228.19M. -4.76 % negative EPS growth is what Wall Street’s predicts after $1.05 reported EPS previous quarter.

For more Magellan Midstream Partners, L.P. (NYSE:MMP) news posted recently go to: Fool.com, Fool.com, Seekingalpha.com, Nasdaq.com or Fool.com. The titles are as follows: “3 Energy Stocks You Don’t Have to Babysit” posted on June 12, 2018, “This High-Yield Dividend Stock Is in a Class of Its Own” on June 17, 2018, “Energy Transfer Partners restores power to West Texas facility” with a publish date: June 08, 2018, “Better Buy: Enterprise Products Partners LP vs. Magellan Midstream Partners, LP” and the last “The Permian Basin’s Pipeline Woes Are Bad News for Some Investors but a Boon for Others” with publication date: June 11, 2018.

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

In total 12 analysts cover Magellan Midstream (NYSE:MMP). “Buy” rating has 5, “Sell” are 3, while 4 are “Hold”. 42% are bullish. With $81.0 highest and $61 lowest target price Magellan Midstream has $71.18 average target price or 2.39% above the current ($69.52) price. 16 are the (NYSE:MMP)’s analyst reports since January 4, 2018 according to StockzIntelligence Inc. On Friday, February 2 the company was maintained by Bank of America. On Tuesday, January 16 RBC Capital Markets maintained Magellan Midstream Partners, L.P. (NYSE:MMP) rating. RBC Capital Markets has “Hold” rating and $81.0 target. On Monday, April 9 the firm has “Outperform” rating by RBC Capital Markets given. In Friday, February 2 report Stifel Nicolaus maintained it with “Hold” rating and $69.0 target. On Friday, February 2 the rating was maintained by Barclays Capital with “Equal-Weight”. In Tuesday, March 27 report Bank of America maintained it with “Buy” rating and $71 target. On Tuesday, March 13 the firm has “Neutral” rating given by JP Morgan. The company rating was upgraded by Jefferies on Thursday, April 5. In Thursday, January 4 report U.S. Capital Advisors upgraded the stock to “Buy” rating. In Friday, March 16 report Morgan Stanley maintained it with “Underweight” rating and $69 target.

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

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