Magellan Midstream Partners, L.P. (MMP) Position Reduced by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA trimmed its holdings in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 72.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,410 shares of the pipeline company’s stock after selling 9,128 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Magellan Midstream Partners were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of MMP. Aperio Group LLC grew its position in Magellan Midstream Partners by 13.0% during the second quarter. Aperio Group LLC now owns 8,985 shares of the pipeline company’s stock worth $640,000 after buying an additional 1,036 shares in the last quarter. Sei Investments Co. grew its position in Magellan Midstream Partners by 29.3% during the second quarter. Sei Investments Co. now owns 45,899 shares of the pipeline company’s stock worth $3,271,000 after buying an additional 10,409 shares in the last quarter. Beach Investment Management LLC. grew its position in Magellan Midstream Partners by 1,479.2% during the second quarter. Beach Investment Management LLC. now owns 762,331 shares of the pipeline company’s stock worth $54,331,000 after buying an additional 714,059 shares in the last quarter. RiverPark Advisors LLC grew its position in Magellan Midstream Partners by 7.3% during the second quarter. RiverPark Advisors LLC now owns 13,300 shares of the pipeline company’s stock worth $948,000 after buying an additional 900 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Magellan Midstream Partners by 1.9% during the second quarter. SG Americas Securities LLC now owns 53,425 shares of the pipeline company’s stock worth $3,808,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 62.48% of the company’s stock.

Magellan Midstream Partners, L.P. (NYSE:MMP) traded up $0.20 during midday trading on Thursday, hitting $68.61. The stock had a trading volume of 707,800 shares, compared to its average volume of 708,256. Magellan Midstream Partners, L.P. has a 12 month low of $63.55 and a 12 month high of $81.77. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. The company has a market cap of $15,599.17, a price-to-earnings ratio of 17.95, a PEG ratio of 2.32 and a beta of 0.77.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The company had revenue of $551.80 million during the quarter, compared to analyst estimates of $610.12 million. During the same quarter in the previous year, the company posted $0.91 EPS. Magellan Midstream Partners’s revenue for the quarter was down 3.7% on a year-over-year basis. sell-side analysts anticipate that Magellan Midstream Partners, L.P. will post 3.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Thursday, November 2nd were paid a $0.905 dividend. This represents a $3.62 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Wednesday, November 1st. This is a positive change from Magellan Midstream Partners’s previous quarterly dividend of $0.89. Magellan Midstream Partners’s payout ratio is 97.84%.

Several equities research analysts have issued reports on MMP shares. BMO Capital Markets started coverage on Magellan Midstream Partners in a research note on Monday. They set a “buy” rating and a $80.00 price target for the company. BidaskClub lowered Magellan Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Mizuho reaffirmed a “sell” rating and set a $72.00 price target on shares of Magellan Midstream Partners in a research note on Friday, October 20th. Jefferies Group reaffirmed a “hold” rating and set a $70.00 price target (down previously from $73.00) on shares of Magellan Midstream Partners in a research note on Sunday, September 3rd. Finally, Citigroup raised Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Magellan Midstream Partners presently has an average rating of “Hold” and a consensus target price of $79.11.

ILLEGAL ACTIVITY NOTICE: “Magellan Midstream Partners, L.P. (MMP) Position Reduced by BNP Paribas Arbitrage SA” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://sportsperspectives.com/2017/12/14/magellan-midstream-partners-l-p-mmp-position-reduced-by-bnp-paribas-arbitrage-sa.html.

About Magellan Midstream Partners

Want to see what other hedge funds are holding MMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magellan Midstream Partners, L.P. (NYSE:MMP).

Institutional Ownership by Quarter for Magellan Midstream Partners (NYSE:MMP)

Receive News & Ratings for Magellan Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply