Castleark Management Lowered By $383,400 Its Magellan Midstream Prtnrs LP (MMP) Position; J C Penney Has 0.79 Sentiment

December 7, 2017 - By Michael Collier

J. C. Penney Company, Inc., through its subsidiary J. The company has market cap of $1.04 billion. C. It currently has negative earnings. Penney Corporation, Inc., sells merchandise through department stores.

Castleark Management Llc decreased Magellan Midstream Prtnrs Lp (MMP) stake by 4.57% reported in 2017Q2 SEC filing. Castleark Management Llc sold 5,400 shares as Magellan Midstream Prtnrs Lp (MMP)’s stock declined 7.68%. The Castleark Management Llc holds 112,692 shares with $8.03M value, down from 118,092 last quarter. Magellan Midstream Prtnrs Lp now has $15.07B valuation. The stock decreased 1.37% or $0.92 during the last trading session, reaching $66.1. About 1.04M shares traded or 30.65% up from the average. Magellan Midstream Partners, L.P. (NYSE:MMP) has risen 3.55% since December 7, 2016 and is uptrending. It has underperformed by 13.15% the S&P500.




Castleark Management Llc increased Fortinet Inc (NASDAQ:FTNT) stake by 38,105 shares to 106,715 valued at $4.00 million in 2017Q2. It also upped Parker Hannifin Corp (NYSE:PH) stake by 55,671 shares and now owns 226,982 shares. Cdw Corp (NASDAQ:CDW) was raised too.

Among 20 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 9 have Buy rating, 2 Sell and 9 Hold. Therefore 45% are positive. Magellan Midstream Partners L.P. had 51 analyst reports since August 7, 2015 according to SRatingsIntel. The company was upgraded on Monday, January 4 by Raymond James. The company was initiated on Monday, December 19 by Ladenburg Thalmann. The stock has “Buy” rating by Ladenburg Thalmann on Wednesday, July 13. The company was upgraded on Friday, May 5 by Credit Suisse. On Monday, August 10 the stock rating was upgraded by Credit Suisse to “Outperform”. UBS upgraded the shares of MMP in report on Wednesday, January 6 to “Buy” rating. JP Morgan maintained the stock with “Neutral” rating in Monday, May 16 report. As per Friday, February 5, the company rating was downgraded by Credit Suisse. The firm has “Underperform” rating by Credit Suisse given on Thursday, March 17. Wells Fargo downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Wednesday, January 11 to “Market Perform” rating.

Analysts await Magellan Midstream Partners, L.P. (NYSE:MMP) to report earnings on February, 1. They expect $1.07 EPS, up 2.88% or $0.03 from last year’s $1.04 per share. MMP’s profit will be $243.98M for 15.44 P/E if the $1.07 EPS becomes a reality. After $0.87 actual EPS reported by Magellan Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts 22.99% EPS growth.

Investors sentiment increased to 0.9 in 2017 Q2. Its up 0.07, from 0.83 in 2017Q1. It increased, as 38 investors sold MMP shares while 153 reduced holdings. 37 funds opened positions while 134 raised stakes. 131.72 million shares or 0.48% less from 132.35 million shares in 2017Q1 were reported. Chilton Capital Mngmt holds 40,431 shares. 21,706 are owned by Amg Funds Ltd Llc. Hudock Cap Group Limited Liability Com reported 26 shares stake. 226,726 were accumulated by Silvercrest Asset Management Gp Limited Co. Deutsche Bancorporation Ag invested in 0.13% or 2.53M shares. Tocqueville Asset LP reported 65,498 shares or 0.06% of all its holdings. Vantage Advsr Limited Liability Com holds 0% in Magellan Midstream Partners, L.P. (NYSE:MMP) or 36 shares. Sei Invs holds 45,899 shares. Cypress Asset Inc Tx reported 117,258 shares. Ancora Advisors Ltd, a Us-based fund reported 43,357 shares. Mirador Cap Partners Lp owns 0.14% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 3,319 shares. North Star Investment Mgmt reported 0.02% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). 349 were reported by Wfg Advisors Lp. Suntrust Banks holds 15,612 shares. Sandy Spring National Bank & Trust owns 62,358 shares or 0.44% of their US portfolio.

The stock increased 1.21% or $0.04 during the last trading session, reaching $3.34. About 11.44 million shares traded. J. C. Penney Company, Inc. (JCP) has declined 40.00% since December 7, 2016 and is downtrending. It has underperformed by 56.70% the S&P500.

Analysts await J. C. Penney Company, Inc. (NYSE:JCP) to report earnings on February, 23. They expect $0.51 earnings per share, down 20.31% or $0.13 from last year’s $0.64 per share. JCP’s profit will be $158.96M for 1.64 P/E if the $0.51 EPS becomes a reality. After $-0.33 actual earnings per share reported by J. C. Penney Company, Inc. for the previous quarter, Wall Street now forecasts -254.55% EPS growth.

Hodges Capital Management Inc. holds 2.21% of its portfolio in J. C. Penney Company, Inc. for 8.01 million shares. First Dallas Securities Inc. owns 478,750 shares or 1.63% of their US portfolio. Moreover, Orca Investment Management Llc has 1.2% invested in the company for 276,464 shares. The New York-based Armistice Capital Llc has invested 1.07% in the stock. Pomelo Capital Llc, a New York-based fund reported 2.62 million shares.

Ratings analysis reveals 50% of J. C. Penney’s analysts are positive. Out of 6 Wall Street analysts rating J. C. Penney, 3 give it “Buy”, 1 “Sell” rating, while 2 recommend “Hold”. The lowest target is $8.5 while the high is $11.0. The stock’s average target of $9.75 is 191.92% above today’s ($3.34) share price. JCP was included in 6 notes of analysts from September 30, 2016. Susquehanna initiated the stock with “Positive” rating in Friday, February 10 report. The firm earned “Buy” rating on Friday, December 2 by Bank of America. The firm earned “Underperform” rating on Wednesday, January 18 by Credit Suisse. The rating was maintained by Telsey Advisory with “Outperform” on Monday, January 9. The stock of J. C. Penney Company, Inc. (NYSE:JCP) has “Equal-Weight” rating given on Monday, February 13 by Morgan Stanley. The rating was initiated by Guggenheim with “Neutral” on Friday, September 30.

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