Economy

Magellan Midstream Partners LP (NYSE:MMP) Shares Sold by Payden & Rygel

Company shares last traded at $70.08 which is a tad above the 50 day moving average which is $67.92 and barely below the 200 day moving average of $72.12. The company presently has a consensus rating of "Hold" and a consensus target price of $79.19.

On July 18 the stock rating was downgraded from "Overweight" to "Buy" in a statement from Barclays. The firm has "Underperform" rating by Credit Suisse given on Thursday, March 17. The company was initiated on Monday, December 19 by Ladenburg Thalmann. RBC Capital Markets maintained Magellan Midstream Partners, L.P. (NYSE:MMP) on Wednesday, November 4 with "Outperform" rating.

01/03/2017 - Deutsche Bank began new coverage on Magellan Midstream Partners L.P. giving the company a "buy" rating.

01/11/2017 - Magellan Midstream Partners L.P. was downgraded to "market perform" by analysts at Wells Fargo. The rating was upgraded by UBS to "Buy" on Wednesday, January 6. Finally, BidaskClub cut Magellan Midstream Partners L.P. from a "hold" rating to a "sell" rating in a research report on Tuesday, July 25th. UBS has "Buy" rating and $8200 target.

A number of analysts have recently weighed in on MMP shares.

Trex Company, Inc.is a manufacturer of wood-alternative decking and railing products. Mixing up the portfolio with stocks from different sectors, market caps, and growth potential, may be the right move. Shares saw a steep decrease in trading volume of 99.23% under the normal average daily volume. OppenheimerFunds Inc. increased its position in Magellan Midstream Partners L.P.by 21.9% during the 1st quarter. It has underperformed by 13.15% the S&P500. Grassi Inv Mgmt invested 0.1% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). The company has market cap of $16.02 billion. Institutional investors own 60.67% of the company's stock. May Douglas J sold $600,000 worth of stock. The value of the investment in Magellan Midstream Partners L.P went from $6,785,000 to $6,277,000 a change of $508,000 quarter over quarter. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Founders Capital Management acquired a new stake in Magellan Midstream Partners L.P. during the first quarter worth approximately $109,000. The total value of its holdings increased 103,100.0%. Its up 0.07, from 0.83 in 2017Q1. Associated Banc holds 0.05% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 13,137 shares.

These funds have shifted positions in (MMP).

Shares of iShares Core MSCI Europe ETF (IEUR) are moving on volatility today -0.20% or $-0.10 from the open. The Salient Trust Company Lta holds 9,568 shares with $682,000 value, down from 21,810 last quarter. State Street holds 26,159 shares.

Oppenheimer & Co. Inc. lowered its stake in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 9.3% during the 2nd quarter, according to its most recent filing with the SEC. UBS AG raised Magellan Midstream Partners L.P. from a "neutral" rating to a "buy" rating and set a $82.00 price objective for the company in a research report on Tuesday, July 18th. Joel Isaacson Communications Ltd Llc reported 16,755 shares or 0.23% of all its holdings.

Salient Trust Company Lta decreased Magellan Midstream Prtnrs Lp (MMP) stake by 56.13% reported in 2017Q2 SEC filing. Blackrock invested in 0% or 991,196 shares. The NYSE listed company saw a recent bid of 70.10 and 58576 shares have traded hands in the session. Carroll Assoc owns 1,914 shares or 0.02% of their U.S. portfolio. 22,143 are held by Jacobus Wealth Mgmt Inc. Naples Glob Advsr Ltd Liability Corp reported 4,675 shares stake. Marks and Spencer had 6 analyst reports since October 7, 2015 according to SRatingsIntel. Equities research analysts predict that Magellan Midstream Partners L.P. will post $3.90 earnings per share for the current fiscal year. TREX's profit will be $15.87 million for 37.17 P/E if the $0.54 EPS becomes a reality. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03.

Ratings analysis reveals 0 of Trex's analysts are positive. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. The lowest target is $55.0 while the high is $61.0. They now have a Dollars 82 price target on the stock. TREX was included in 4 notes of analysts from October 19, 2016.

Since May 24, 2017, it had 0 insider purchases, and 1 insider sale for $600,000 activity.

It closed at $80.29 lastly. HRG Group Inc (NYSE:HRG) has risen 28.87% since September 21, 2016 and is uptrending. It has outperformed by 34.84% the S&P500. Neville Rodie Shaw Inc has 5,050 shares. Conestoga Capital Advisors Llc owns 517,986 shares or 1.82% of their USA portfolio. Archford Capital Strategies Lc invested in 6,156 shares.



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