Sentiment for Magellan Midstream Partners LP (NYSE:MMP)
Magellan Midstream Partners LP (NYSE:MMP) institutional sentiment increased to 0.94 in Q3 2015. Its up 0.04, from 0.9 in 2015Q2. The ratio is better, as 208 funds increased and started new stock positions, while 221 sold and decreased equity positions in Magellan Midstream Partners LP. The funds in our partner’s database now own: 135.87 million shares, up from 131.74 million shares in 2015Q2. Also, the number of funds holding Magellan Midstream Partners LP in their top 10 stock positions decreased from 40 to 39 for a decrease of 1. Sold All: 54 Reduced: 167 Increased: 164 New Position: 44.
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 $14.47 billion. The Company’s business divisions include Refined Products, Crude Oil and Marine Storage. It has 16.78 P/E ratio. The Company’s refined products segment consists of Magellan’s 9,500-mile refined products pipeline system with 53 terminals, as well as 27 independent terminals not connected to the Company’s pipeline system and its 1,100-mile ammonia pipeline system.
The stock decreased 0.02% or $0.01 on November 30, hitting $63.62. About 430 shares traded hands. Magellan Midstream Partners, L.P. (NYSE:MMP) has declined 23.13% since April 27, 2015 and is downtrending. It has underperformed by 22.24% the S&P500.
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.” Get a free copy of the Zacks research report on Magellan Midstream Partners, L.P. (MMP)
Ratings analysis reveals 75% of Magellan Midstream Partners L.P.’s analysts are positive. Out of 8 Wall Street analysts rating Magellan Midstream Partners L.P., 6 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $70 while the high is $91. The stock’s average target of $81.50 is 28.10% above today’s ($63.62) share price. MMP was included in 14 notes of analysts from August 7, 2015. DA Davidson initiated the shares of Magellan Midstream Partners L.P. in a note on November 16 with “Buy” rating. Stifel Nicolaus upgraded Magellan Midstream Partners L.P.’s stock on August 11 to “Hold” rating.
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