Mosaic Family Wealth buys $2,232,657 stake in Magellan Midstream Partners L.P. (MMP)

Magellan Midstream Partners L.P. (MMP) : Mosaic Family Wealth scooped up 105 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 15, 2016. The investment management firm now holds a total of 31,178 shares of Magellan Midstream Partners L.P. which is valued at $2,232,657.Magellan Midstream Partners L.P. makes up approximately 1.00% of Mosaic Family Wealth’s portfolio.

Other Hedge Funds, Including , Phocas Financial Corp. boosted its stake in MMP in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 3,950 shares of Magellan Midstream Partners L.P. which is valued at $282,860. Magellan Midstream Partners L.P. makes up approx 0.02% of Phocas Financial Corp.’s portfolio.Hsbc Holdings Plc boosted its stake in MMP in the latest quarter, The investment management firm added 232 additional shares and now holds a total of 4,942 shares of Magellan Midstream Partners L.P. which is valued at $353,897.Laurel Wealth Advisors boosted its stake in MMP in the latest quarter, The investment management firm added 854 additional shares and now holds a total of 25,080 shares of Magellan Midstream Partners L.P. which is valued at $1,795,979. Magellan Midstream Partners L.P. makes up approx 0.85% of Laurel Wealth Advisors’s portfolio.Summit Equities Inc reduced its stake in MMP by selling 41 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 15,176 shares of MMP which is valued at $1,064,293. Magellan Midstream Partners L.P. makes up approx 0.28% of Summit Equities Inc’s portfolio.Plante Moran Financial Advisors reduced its stake in MMP by selling 90 shares or 33.71% in the most recent quarter. The Hedge Fund company now holds 177 shares of MMP which is valued at $12,383. Magellan Midstream Partners L.P. makes up approx 0.01% of Plante Moran Financial Advisors’s portfolio.

Magellan Midstream Partners L.P. opened for trading at $69.96 and hit $70.58 on the upside on Thursday, eventually ending the session at $70.53, with a gain of 0.28% or 0.2 points. The heightened volatility saw the trading volume jump to 3,79,661 shares. Company has a market cap of $16,066 M.

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.

Many Wall Street Analysts have commented on Magellan Midstream Partners L.P.. Magellan Midstream Partners L.P. was Downgraded by Morgan Stanley to ” Underweight” on Aug 18, 2016.

Magellan Midstream Partners L.P. (Magellan) is engaged in the transportation storage and distribution of refined petroleum products and crude oil. The Company’s business segments include Refined Products Crude Oil and Marine Storage. The Company’s refined products segment consists of Magellan’s 9500-mile refined products pipeline system with 53 terminals as well as 27 independent terminals not connected to the Company’s pipeline system and its 1100-mile ammonia pipeline system. Magellan’s 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.

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