Traders See Bullish Options Activity Magellan Midstream Partners, L.P.

 Traders See Bullish Options Activity Magellan Midstream Partners, L.P.

In today’s session Magellan Midstream Partners, L.P. (MMP) registered an unusually high (1,505) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious MMP increase. With 1,505 contracts traded and 23454 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: MMP161021C00072500 closed last at: $0.4 or 20% down. About 61,091 shares traded hands. Magellan Midstream Partners, L.P. (NYSE:MMP) has risen 0.14% since March 2, 2016 and is uptrending. It has underperformed by 8.11% the S&P500.

Analysts await Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings on November, 1. They expect $0.89 earnings per share, up 3.49% or $0.03 from last year’s $0.86 per share. MMP’s profit will be $201.41 million for 19.67 P/E if the $0.89 EPS becomes a reality. After $0.82 actual earnings per share reported by Magellan Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts 8.54% EPS growth.

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

Out of 16 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 9 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 56% are positive. $91 is the highest target while $61 is the lowest. The $75.08 average target is 7.20% above today’s ($70.04) stock price. Magellan Midstream Partners L.P. has been the topic of 29 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Buy” rating given on Monday, August 10 by Argus Research. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, April 29. The firm earned “Strong Buy” rating on Monday, January 4 by Raymond James. Seaport Global initiated it with “Buy” rating and $82 target price in Tuesday, June 14 report. The company was downgraded on Monday, April 4 by Wunderlich. The rating was maintained by JP Morgan on Monday, May 16 with “Neutral”. Morgan Stanley downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Thursday, August 18 to “Underweight” rating. Credit Suisse upgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Monday, August 10 to “Outperform” rating. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Buy” rating given on Monday, November 16 by DA Davidson. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Underperform” rating by Credit Suisse on Thursday, March 17.

According to Zacks Investment Research, “Magellan Midstream Partners, L.P., formerly Williams Energy Partners L.P., is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products and ammonia.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.06, from 0.92 in 2016Q1. The ratio is negative, as 43 funds sold all Magellan Midstream Partners, L.P. shares owned while 175 reduced positions. 44 funds bought stakes while 144 increased positions. They now own 129.66 million shares or 6.53% less from 138.72 million shares in 2016Q1.
Clifford Swan Counsel Limited Liability Com reported 35,547 shares or 0.19% of all its holdings. Nuveen Asset Ltd Liability Co accumulated 0.27% or 576,266 shares. Macquarie Group Ltd holds 282,492 shares or 0.04% of its portfolio. Heronetta Mgmt L P reported 296,880 shares or 12.11% of all its holdings. San Francisco Sentry (Ca) last reported 15,044 shares in the company. Bridgecreek Mngmt last reported 2.79% of its portfolio in the stock. Thompson Siegel Walmsley Limited Liability Company owns 2,708 shares or 0% of their US portfolio. Agf Invs has 334,263 shares for 0.28% of their US portfolio. Welch And Forbes Ltd holds 0.01% or 2,850 shares in its portfolio. Thomaspartners accumulated 0.33% or 335,284 shares. Oxbow Ltd Liability last reported 14,305 shares in the company. Ftb Advsrs last reported 8,390 shares in the company. Babson Capital Management Ltd holds 0.06% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 29,500 shares. Moreover, Spirit Of America Management Corporation Ny has 2.52% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 226,180 shares. Palo accumulated 4,600 shares or 0.12% of the stock.

Insider Transactions: Since May 6, 2016, the stock had 0 buys, and 2 selling transactions for $403,290 net activity. Selvidge Jeff R also sold $396,288 worth of Magellan Midstream Partners, L.P. (NYSE:MMP) shares. MEARS MICHAEL N sold $7,002 worth of Magellan Midstream Partners, L.P. (NYSE:MMP) on Thursday, September 1.

Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The company has a market cap of $15.85 billion. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. It has a 18.71 P/E ratio.

MMP Company Profile

Magellan Midstream Partners, L.P. (Magellan), incorporated on August 30, 2000, is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. The Company’s asset portfolio, including the assets of its joint ventures, consist of the Company’s refined products segment, consisting of Magellan’s over 9,500 mile refined products pipeline system with approximately 50 terminals, as well as over 30 independent terminals not connected to the Company’s pipeline system and its approximately 1,100-mile ammonia pipeline system; its crude oil segment, which consists of approximately 1,700 miles of crude oil pipelines and storage facilities, and its marine storage segment, consisting of over five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 30 million barrels. Magellan GP, LLC serves as its general partner. The Company’s products include refined products, liquefied petroleum gases, or LPGs, blendstocks, heavy oils and feedstocks, crude oil and condensate, biofuels and ammonia.

More notable recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Fool.com which released: “3 Reasons Magellan Midstream Partners, LP Stock Could Fall” on September 28, 2016, also Fool.com with their article: “Better Buy: Magellan Midstream Partners LP vs. Spectra Energy Partners” published on September 26, 2016, Fool.com published: “Magellan Midstream Partners, LP in 5 Charts” on September 16, 2016. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) were released by: Fool.com and their article: “How Risky Is Magellan Midstream Partners, LP?” published on August 18, 2016 as well as Fool.com‘s news article titled: “Will Magellan Midstream Partners, LP Raise Its Dividend in 2017?” with publication date: September 21, 2016.

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