Magellan Midstream Partners, L.P. Stock Was Bought By Options Traders

 Magellan Midstream Partners, L.P. Stock Was Bought By Options Traders

In today’s session Magellan Midstream Partners, L.P. (MMP) registered an unusually high (358) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MMP increase. With 358 contracts traded and 4374 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MMP161216C00070000 closed last at: $0.5 or 0% . About 93,082 shares traded hands. Magellan Midstream Partners, L.P. (NYSE:MMP) has declined 1.46% since April 20, 2016 and is downtrending. It has underperformed by 6.02% the S&P500.

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. 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) earned “Buy” rating by Ladenburg Thalmann on Wednesday, July 13. Raymond James upgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Monday, January 4 to “Strong Buy” rating. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Buy” rating given on Monday, August 10 by Argus Research. On Monday, August 10 the stock rating was upgraded by Credit Suisse to “Outperform”. The firm earned “Neutral” rating on Friday, September 30 by Mizuho. UBS upgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Wednesday, January 6 to “Buy” rating. The company was maintained on Saturday, August 8 by Raymond James. The firm has “Neutral” rating given on Monday, May 16 by JP Morgan. On Friday, April 29 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Hold” rating given on Monday, April 4 by Wunderlich.

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 increased to 1.19 in 2016 Q2. Its up 0.33, from 0.86 in 2016Q1. The ratio is positive, 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.
Pennsylvania Trust Co reported 15,648 shares or 0.1% of all its holdings. Burnham Asset Mngmt Corporation Ny holds 0.83% or 39,099 shares in its portfolio. Evergreen Capital has invested 0.1% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Dorsey And Whitney Co Ltd Liability Corp holds 14,278 shares or 0.25% of its portfolio. Da Davidson And, a Montana-based fund reported 22,876 shares. Advsrs Inc Ok holds 0% or 11,490 shares in its portfolio. Macquarie Gru Limited has 282,492 shares for 0.04% of their US portfolio. Krasney Finance Limited Liability Corporation, a New Jersey-based fund reported 3,091 shares. Morgan Stanley last reported 3.18M shares in the company. Whitnell And Com has 0.53% invested in the company for 21,400 shares. First In has 0.04% invested in the company for 1,000 shares. Steinberg Global Asset Management owns 9,256 shares or 0.12% of their US portfolio. Northeast accumulated 0.1% or 12,641 shares. Grassi Management holds 0.12% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 8,050 shares. Moreover, Cibc Mkts has 0% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 4,939 shares.

Insider Transactions: Since September 1, 2016, the stock had 0 insider purchases, and 1 insider sale for $7,002 net activity. 100 shares with value of $7,002 were sold by MEARS MICHAEL N 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 $15.79 billion. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. It has a 19.82 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: “Magellan Midstream Partners LP Posts a Solid Quarter, Ups Guidance” on November 02, 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: “Better Buy: Magellan Midstream Partners LP vs. Kinder Morgan Inc.” with publication date: October 19, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment