Published On: Fri, Sep 16th, 2016

Investors Buy Shares of Magellan Midstream Partners L.P. (MMP) on Weakness

Traders purchased shares of Magellan Midstream Partners L.P. (NYSE:MMP) on weakness during trading on Thursday. $21.83 million flowed into the stock on the tick-up and $10.55 million flowed out of the stock on the tick-down, for a money net flow of $11.28 million into the stock. Of all stocks tracked, Magellan Midstream Partners L.P. had the 9th highest net in-flow for the day. Magellan Midstream Partners L.P. traded down ($0.51) for the day and closed at $67.82
MMP has been the subject of a number of research reports. Credit Suisse Group AG set a $74.00 price target on Magellan Midstream Partners L.P. and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. Morgan Stanley downgraded Magellan Midstream Partners L.P. from an “equal” rating to an “underweight” rating and decreased their price target for the stock from $73.00 to $69.00 in a research note on Thursday, August 18th. Ladenburg Thalmann initiated coverage on Magellan Midstream Partners L.P. in a research note on Wednesday, July 13th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Finally, Seaport Global Securities initiated coverage on Magellan Midstream Partners L.P. in a research note on Tuesday, June 14th. They issued a “buy” rating and a $82.00 price target for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Magellan Midstream Partners L.P. presently has an average rating of “Hold” and a consensus price target of $77.89.
The stock has a market cap of $15.45 billion, a PE ratio of 18.18 and a beta of 0.65. The company has a 50 day moving average of $70.39 and a 200 day moving average of $70.85.

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Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. Magellan Midstream Partners L.P. had a net margin of 38.97% and a return on equity of 38.58%. The company had revenue of $518.90 million for the quarter, compared to the consensus estimate of $519.12 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Magellan Midstream Partners L.P. will post $3.53 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Magellan Midstream Partners L.P. by 1.3% in the second quarter. BlackRock Inc. now owns 2,758 shares of the company’s stock valued at $210,000 after buying an additional 35 shares during the last quarter. Buckingham Asset Management LLC boosted its stake in Magellan Midstream Partners L.P. by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 5,591 shares of the company’s stock worth $425,000 after buying an additional 39 shares during the last quarter. V Wealth Management LLC boosted its stake in Magellan Midstream Partners L.P. by 0.6% in the second quarter. V Wealth Management LLC now owns 6,871 shares of the company’s stock worth $521,000 after buying an additional 40 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Magellan Midstream Partners L.P. by 0.3% in the first quarter. Stratos Wealth Partners LTD. now owns 14,268 shares of the company’s stock worth $982,000 after buying an additional 42 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake in Magellan Midstream Partners L.P. by 2.6% in the second quarter. Carroll Financial Associates Inc. now owns 1,994 shares of the company’s stock worth $151,000 after buying an additional 50 shares during the last quarter. Institutional investors own 62.35% of the company’s stock.
Magellan Midstream Partners L.P. Company Profile

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