Alps Advisors INC Decreased Its Stake in Magellan Midstream Partners LP (MMP) by $13.96 Million as Shares Declined

April 17, 2018 - By Eula Gilbert

During 2017 Q4 the big money sentiment decreased to 0.76. That’s change of 0.14, from 2017Q3’s 0.9. 35 investors sold all, 186 reduced holdings as MMP ratio dived. 118 rose stakes while 49 funds acquired stakes. Funds hold 134.60 million shares thus 0.07% more from 2017Q3’s 134.51 million shares. 64,488 are held by Cypress Asset Mngmt Incorporated Tx. Stifel Fincl Corporation owns 129,467 shs for 0.03% of their capital. Bridgecreek Management Ltd Liability reported 121,164 shs. Tower Bridge Advsr reported 13,570 shs or 0.1% of all its holdings. Monetary Mngmt Group holds 0.06% or 2,000 shs in its capital. Valley Natl Advisers Inc owns 6,650 shs. Telemus Llc owns 10,953 shs. Security National Tru Communications holds 4,000 shs. Peapack Gladstone Financial owns 0.01% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 3,109 shs. Leavell Mngmt holds 91,088 shs or 0.76% of its capital. Chilton Management Lc holds 38,588 shs or 0.25% of its capital. The Missouri-based Benjamin F Edwards & has invested 0% in Magellan Midstream Partners, L.P. (NYSE:MMP). Ftb Advisors accumulated 0.04% or 6,153 shs. Wms Ptnrs Ltd Liability, a Maryland-based fund reported 4,020 shs. Tocqueville Asset Limited Partnership holds 60,963 shs.

MMP had 1 sale and 0 buys since February 12, 2018. This’s net activity of $1.51 million.

The stake In Magellan Midstream Partners Lp (MMP) was reduced held by Alps Advisors Inc. According to 2017Q4 Securities and Exchange filling the reduction is 1.32%. The company’s stock declined 17.74% with the market as Alps Advisors Inc sold 199,424 shares. At the end of 2017Q4, the 14.87 million shares of the natural gas distribution company held by the institutional investor were priced at $1.05 billion, down from 15.07M at the end of the previous reported quarter. Magellan Midstream Partners Lp has $14.73 billion market cap. Its shares touched $64.55 on during the last trading session after 3.73% change.Magellan Midstream Partners, L.P. has 1.34M shares volume, 17.68% up from normal. MMP is downtrending and has moved 24.45% since April 17, 2017. The stock underperformed the S&P500 by 36.00%.

Alps Advisors Inc manages about $13.32B and $14.44B US Long portfolio. According to a filing the fund increased its stake in Merck & Co Inc (NYSE:MRK) by 166,602 shares to 873,059 shares, valued at $49.13 million in 2017Q4. For a total of 3.91M shares it increased its holding in Tallgrass Energy Partners Lp (NYSE:TEP) by 91,948 shares in the quarter, and has risen its stake in Enbridge Energy Partners Lp (NYSE:EEP).

Analysts await Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings on May, 2. They expect $1.01 earnings per share, up 3.06 % or $0.03 from last year’s $0.98 per share. MMP’s profit will be $230.48M for 15.98 P/E if the $1.01 EPS becomes a reality. After $1.04 actual earnings per share reported by Magellan Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts -2.88 % negative EPS growth.

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

In total 12 analysts cover Magellan Midstream (NYSE:MMP). “Buy” rating has 6, “Sell” are 3, while 3 are “Hold”. 50% are bullish. With $81.0 highest and $61 lowest [Target] Magellan Midstream has $72.73 average [Target] or 12.67% above the current ($64.55) price. 16 are the (NYSE:MMP)’s analyst reports since November 5, 2017 according to StockzIntelligence Inc. On Friday, February 2 the stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Equal-Weight” rating given by Barclays Capital. On Thursday, April 5 the stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Buy” rating given by Jefferies. On Friday, March 2 the firm has “Buy” rating by UBS given. In Friday, March 16 report Morgan Stanley maintained the stock with “Underweight” rating. On Monday, April 9 the firm has “Outperform” rating by RBC Capital Markets given. On Tuesday, March 13 JP Morgan maintained the shares of MMP in report with “Neutral” rating. On Thursday, February 1 the stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Hold” rating by RBC Capital Markets. On Thursday, January 4 the stock has “Buy” rating by U.S. Capital Advisors. The company rating was maintained by Mizuho on Wednesday, April 11. The company rating was maintained by Stifel Nicolaus on Friday, February 2.

Magellan Midstream Partners, L.P. (NYSE:MMP) Institutional Investors Chart

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