Magellan Midstream Partners L.P. (MMP) : Moors Cabot scooped up 455 additional shares in Magellan Midstream Partners L.P. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 78,821 shares of Magellan Midstream Partners L.P. which is valued at $5,573,433.Magellan Midstream Partners L.P. makes up approximately 0.95% of Moors Cabot’s portfolio.
Other Hedge Funds, Including , Zwj Investment Counsel Inc reduced its stake in MMP by selling 267 shares or 8.67% in the most recent quarter. The Hedge Fund company now holds 2,812 shares of MMP which is valued at $198,837. Magellan Midstream Partners L.P. makes up approx 0.02% of Zwj Investment Counsel Inc’s portfolio. Adell Harriman Carpenter Inc added MMP to its portfolio by purchasing 2,876 company shares during the most recent quarter which is valued at $201,694. Magellan Midstream Partners L.P. makes up approx 0.05% of Adell Harriman Carpenter Inc’s portfolio.Ghp Investment Advisors reduced its stake in MMP by selling 255 shares or 1.65% in the most recent quarter. The Hedge Fund company now holds 15,177 shares of MMP which is valued at $1,061,783. Magellan Midstream Partners L.P. makes up approx 0.21% of Ghp Investment Advisors’s portfolio.
Magellan Midstream Partners L.P. closed down -0.98 points or -1.37% at $70.63 with 10,40,271 shares getting traded on Monday. Post opening the session at $72.09, the shares hit an intraday low of $70.32 and an intraday high of $72.5299 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Magellan Midstream Partners L.P. reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.78. The company had revenue of $518.90 million for the quarter, compared to analysts expectations of $516.56 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Magellan Midstream Partners L.P. (Magellan) is engaged in the transportation storage and distribution of refined petroleum products and crude oil. The Companys business segments include Refined Products Crude Oil and Marine Storage. The Companys refined products segment consists of Magellans 9500-mile refined products pipeline system with 53 terminals as well as 27 independent terminals not connected to the Companys pipeline system and its 1100-mile ammonia pipeline system. Magellans crude oil segment consists of approximately 1600 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 21 million barrels of which 12 million is used for leased storage. Its marine storage segment consists of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.