Magellan Midstream Partners LP (NYSE:MMP) Can’t Be Less Risky. Short Interest Decreased

February 15, 2018 - By Vivian Currie

 Magellan Midstream Partners LP (NYSE:MMP) Can't Be Less Risky. Short Interest Decreased

Investors sentiment is 0.9 in 2017 Q3. Its the same as in 2017Q2. It is flat, as 42 investors sold Magellan Midstream Partners, L.P. 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.
Keybank Natl Association Oh, Ohio-based fund reported 104,665 shares. Pinnacle Advisory Gp reported 7,417 shares. Reilly Advsrs Limited Liability invested in 1,264 shares. Fifth Third National Bank holds 12,968 shares or 0.01% of its portfolio. Spectrum Mgmt Grp Incorporated accumulated 0.01% or 632 shares. Moreover, Planning Corporation has 0.17% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 11,604 shares. 7,175 are held by Signaturefd Ltd. Virtu Ltd Liability has 0.42% invested in Magellan Midstream Partners, L.P. (NYSE:MMP). 115,923 are held by Weiss Multi. M&R Capital Mngmt reported 3,500 shares. Cambridge Investment Advsrs has 0.04% invested in Magellan Midstream Partners, L.P. (NYSE:MMP). Macquarie Grp Ltd owns 0.04% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 348,792 shares. Whittier Tru Of Nevada invested in 0.01% or 950 shares. 2.15M are held by Savings Bank Of Montreal Can. The Pennsylvania-based Hudock Group Limited Co has invested 0% in Magellan Midstream Partners, L.P. (NYSE:MMP).

Since September 14, 2017, it had 0 buys, and 1 sale for $353,200 activity.

The stock of Magellan Midstream Partners LP (NYSE:MMP) registered a decrease of 6.41% in short interest. MMP’s total short interest was 4.60M shares in February as published by FINRA. Its down 6.41% from 4.91M shares, reported previously. With 1.00M shares average volume, it will take short sellers 5 days to cover their MMP’s short positions. The short interest to Magellan Midstream Partners LP’s float is 2.02%.

The stock decreased 0.72% or $0.49 during the last trading session, reaching $67.16. About 219,330 shares traded. Magellan Midstream Partners, L.P. (NYSE:MMP) has risen 3.55% since February 15, 2017 and is uptrending. It has underperformed by 13.15% the S&P500.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company has market cap of $15.31 billion. The firm operates through Refined Products, Crude Oil, and Marine Storage divisions. It has a 17.63 P/E ratio. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services.

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. had 59 analyst reports since August 7, 2015 according to SRatingsIntel. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Hold” rating given on Monday, April 4 by Wunderlich. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) has “Outperform” rating given on Monday, August 10 by Credit Suisse. The firm has “Hold” rating given on Thursday, February 1 by RBC Capital Markets. Raymond James downgraded the stock to “Outperform” rating in Thursday, January 12 report. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Neutral” rating by Credit Suisse on Friday, May 5. The firm has “Underweight” rating given on Thursday, August 18 by Morgan Stanley. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Neutral” rating by Macquarie Research on Friday, April 21. The stock has “Underperform” rating by Credit Suisse on Thursday, March 17. On Monday, August 10 the stock rating was maintained by Argus Research with “Buy”. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Buy” rating by U.S. Capital Advisors on Thursday, January 4.

More notable recent Magellan Midstream Partners, L.P. (NYSE:MMP) news were published by: Seekingalpha.com which released: “Magellan Midstream Partners – Increasing Distribution Even During Recessions” on February 06, 2018, also Reuters.com with their article: “Crude volumes on BridgeTex pipeline seen up 16 percent this year: Magellan” published on February 01, 2018, Businesswire.com published: “Intercontinental Exchange and Magellan Midstream Successfully Launch Auction …” on February 14, 2018. More interesting news about Magellan Midstream Partners, L.P. (NYSE:MMP) were released by: Foxbusiness.com and their article: “Better Buy: Magellan Midstream Partners, LP vs. Kinder Morgan Inc” published on February 15, 2018 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Sensient Technologies, Hexcel and Magellan Midstream …” with publication date: February 01, 2018.

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