Magellan Midstream Prtnrs LP (MMP) Shareholder Tortoise Capital Advisors LLC Has Raised Its Position by $50.93 Million

March 23, 2018 - By Michael Pereira

Investors sentiment is 0.9 in Q3 2017. Its the same as in 2017Q2. It is the same, as 42 investors sold MMP shares while 161 reduced holdings. only 40 funds opened positions while 142 raised stakes. 134.51 million shares or 2.12% more from 131.72 million shares in 2017Q2 were reported. Botty Ltd Limited Liability Company stated it has 31,108 shares or 0.7% of all its holdings. Advisory Rech Incorporated reported 1.55 million shares. Signature Financial Management invested 0.08% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Plante Moran Financial Advsrs Limited has invested 0.08% in Magellan Midstream Partners, L.P. (NYSE:MMP). Bnp Paribas Arbitrage Sa accumulated 0% or 3,410 shares. Cap One National Association reported 9,110 shares or 0.05% of all its holdings. Selz Capital Limited Liability reported 277,650 shares. Stifel Corporation has invested 0.04% in Magellan Midstream Partners, L.P. (NYSE:MMP). Spectrum Mgmt Gru Inc owns 632 shares. West Family holds 0.21% or 24,600 shares in its portfolio. Steinberg Glob Asset Mngmt holds 0.12% or 11,156 shares. Serv Automobile Association reported 211,983 shares. Schroder Inv Management Grp Inc stated it has 0% in Magellan Midstream Partners, L.P. (NYSE:MMP). Moreover, Private Advisor Gp Llc has 0.13% invested in Magellan Midstream Partners, L.P. (NYSE:MMP). Pennsylvania Trust holds 34,173 shares.

Since February 12, 2018, it had 0 insider purchases, and 1 sale for $1.51 million activity.

Tortoise Capital Advisors Llc increased its stake in Magellan Midstream Prtnrs Lp (MMP) by 5.3% based on its latest 2017Q3 regulatory filing with the SEC. Tortoise Capital Advisors Llc bought 717,317 shares as the company’s stock declined 7.68% while stock markets rallied. The hedge fund held 14.24 million shares of the natural gas distribution company at the end of 2017Q3, valued at $1.01B, up from 13.52M at the end of the previous reported quarter. Tortoise Capital Advisors Llc who had been investing in Magellan Midstream Prtnrs Lp for a number of months, seems to be bullish on the $13.28 billion market cap company. The stock decreased 0.98% or $0.575 during the last trading session, reaching $58.215. About 567,511 shares traded. Magellan Midstream Partners, L.P. (NYSE:MMP) has risen 3.55% since March 23, 2017 and is uptrending. It has underperformed by 13.15% the S&P500.

Tortoise Capital Advisors Llc, which manages about $15.07 billion and $15.29B US Long portfolio, decreased its stake in Energy Transfer Equity LP (NYSE:ETE) by 2.55M shares to 30.84 million shares, valued at $536.04 million in 2017Q3, according to the filing. It also reduced its holding in Williams Partners LP New (ACMP) by 414,179 shares in the quarter, leaving it with 11.00 million shares, and cut its stake in Rice Energy Inc (NYSE:RICE).

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

Among 23 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 12 have Buy rating, 3 Sell and 8 Hold. Therefore 52% are positive. Magellan Midstream Partners L.P. has $91 highest and $61 lowest target. $75.39’s average target is 29.50% above currents $58.215 stock price. Magellan Midstream Partners L.P. had 62 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Macquarie Research given on Friday, April 21. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Outperform” rating given on Wednesday, November 4 by RBC Capital Markets. UBS upgraded the shares of MMP in report on Tuesday, July 18 to “Buy” rating. RBC Capital Markets maintained it with “Hold” rating and $8000 target in Sunday, July 23 report. Stifel Nicolaus upgraded the shares of MMP in report on Tuesday, August 11 to “Hold” rating. The rating was initiated by Ladenburg Thalmann with “Buy” on Wednesday, July 13. The firm has “Hold” rating given on Sunday, October 1 by RBC Capital Markets. The rating was maintained by Citigroup on Friday, August 7 with “Buy”. The rating was upgraded by Raymond James to “Strong Buy” on Monday, January 4. As per Friday, August 7, the company rating was upgraded by Credit Suisse.

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