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Stock Market & Financial Investment News

News Breaks
February 6, 2013
09:16 EDTMMPMagellan Midstream downgraded to Neutral from Buy at Ladenburg
Ladenburg downgraded Magellan Midstream due to valuation. Price target is $51.50.
News For MMP From The Last 14 Days
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February 5, 2016
10:02 EDTMMPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
08:21 EDTMMPMagellan Midstream downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst John Edwards downgraded Magellan Midstream to Neutral following the Q4 beat citing valuation. Edwards lowered his price target on Magellan Midstream shares to $70 from $80 based on slowing growth.
February 4, 2016
08:34 EDTMMPMagellan Midstream committed to goal of increasing cash distribution by 10%
Management remains committed to its goal of increasing annual cash distributions by 10% for 2016 and currently expects to generate annual DCF of $900 million in 2016, resulting in 1.2 times the amount needed to pay cash distributions for 2016. Current DCF guidance assumes an average crude oil price of approximately $35 per barrel for 2016, with each $1 change in the price of crude oil estimated to impact Magellan's 2016 financial results by approximately $3 million, primarily related to the partnership's butane blending activities and the value of its pipeline tender deductions and product overages. Management is targeting annual distribution growth of at least 8% for 2017 while maintaining distribution coverage of at least 1.2 times the amount needed to pay cash distributions for 2017. Distribution growth guidance specific to 2017 has not been provided previously.
08:34 EDTMMPMagellan Midstream sees FY16 EPS $3.20, consensus $3.67
08:34 EDTMMPMagellan Midstream sees Q1 EPS 70c, consensus 87c
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08:33 EDTMMPMagellan Midstream to spend $800M in 2016 to complete construction projects
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08:32 EDTMMPMagellan Midstream reports Q4 DCF $256.9M
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08:32 EDTMMPMagellan Midstream reports Q4 non-GAAP EPS 86c, consensus 91c
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February 1, 2016
17:50 EDTMMPBridgeTex Pipeline extends open season to Feb 15 for new Eaglebine origin
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