Exxonmobil Investment Management Trimmed Its Simon Property Group Com (SPG) Stake as Market Valuation Declined; Cushing Asset Management LP Holds Stake in Magellan Midstream Prtnrs LP (MMP)

April 21, 2018 - By Hugh Holland

Simon Property Group, Inc. (NYSE:SPG) Logo

Cushing Asset Management Lp increased its stake in Magellan Midstream Prtnrs Lp (MMP) by 442.76% based on its latest 2017Q4 regulatory filing with the SEC. Cushing Asset Management Lp bought 672,990 shares as the company’s stock declined 17.74% with the market. The hedge fund held 824,990 shares of the natural gas distribution company at the end of 2017Q4, valued at $58.52 million, up from 152,000 at the end of the previous reported quarter. Cushing Asset Management Lp who had been investing in Magellan Midstream Prtnrs Lp for a number of months, seems to be bullish on the $14.88B market cap company. The stock decreased 1.08% or $0.71 during the last trading session, reaching $65.19. About 613,426 shares traded. Magellan Midstream Partners, L.P. (NYSE:MMP) has declined 24.45% since April 21, 2017 and is downtrending. It has underperformed by 36.00% the S&P500.

Exxonmobil Investment Management Inc decreased its stake in Simon Property Group Inc Com (SPG) by 12.93% based on its latest 2017Q4 regulatory filing with the SEC. Exxonmobil Investment Management Inc sold 7,339 shares as the company’s stock declined 9.94% with the market. The institutional investor held 49,424 shares of the consumer services company at the end of 2017Q4, valued at $8.49M, down from 56,763 at the end of the previous reported quarter. Exxonmobil Investment Management Inc who had been investing in Simon Property Group Inc Com for a number of months, seems to be less bullish one the $52.56B market cap company. The stock decreased 2.02% or $3.03 during the last trading session, reaching $147.25. About 2.33 million shares traded or 25.13% up from the average. Simon Property Group, Inc. (NYSE:SPG) has declined 9.44% since April 21, 2017 and is downtrending. It has underperformed by 20.99% the S&P500.

Among 21 analysts covering Simon Property Group (NYSE:SPG), 14 have Buy rating, 0 Sell and 7 Hold. Therefore 67% are positive. Simon Property Group had 68 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, October 30 by Boenning & Scattergood. Barclays Capital maintained Simon Property Group, Inc. (NYSE:SPG) rating on Wednesday, August 5. Barclays Capital has “Overweight” rating and $216.0 target. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, February 2. The company was maintained on Monday, July 24 by Jefferies. As per Monday, July 17, the company rating was maintained by Jefferies. Argus Research maintained it with “Buy” rating and $200 target in Tuesday, August 22 report. Boenning & Scattergood maintained the shares of SPG in report on Thursday, February 1 with “Buy” rating. Argus Research maintained it with “Buy” rating and $227 target in Friday, November 13 report. The company was downgraded on Tuesday, March 27 by JP Morgan. RBC Capital Markets maintained it with “Sector Perform” rating and $216 target in Tuesday, November 1 report.

Investors sentiment increased to 0.99 in Q4 2017. Its up 0.01, from 0.98 in 2017Q3. It is positive, as 50 investors sold SPG shares while 204 reduced holdings. 74 funds opened positions while 178 raised stakes. 293.74 million shares or 1.11% less from 297.03 million shares in 2017Q3 were reported. Northern Trust Corp accumulated 5.30M shares. Presima invested in 8.78% or 396,900 shares. Nomura Asset Mngmt Ltd has invested 0.45% of its portfolio in Simon Property Group, Inc. (NYSE:SPG). Tru Of Toledo Na Oh owns 9,335 shares or 0.4% of their US portfolio. Northwestern Mutual Wealth Mngmt holds 0% of its portfolio in Simon Property Group, Inc. (NYSE:SPG) for 3,666 shares. Checchi Cap Advisers Lc accumulated 2,139 shares. Johnson Gp Inc reported 11 shares or 0% of all its holdings. Wellington Limited Liability Partnership has invested 0.08% in Simon Property Group, Inc. (NYSE:SPG). Old Second Fincl Bank Of Aurora invested in 202 shares. Wealthfront invested 0.04% in Simon Property Group, Inc. (NYSE:SPG). The Georgia-based Invesco Ltd has invested 0.39% in Simon Property Group, Inc. (NYSE:SPG). Orinda Asset Lc accumulated 19,500 shares or 2.92% of the stock. Moneta Grp Advisors Limited Liability Corporation owns 0% invested in Simon Property Group, Inc. (NYSE:SPG) for 3 shares. Zacks Inv Management stated it has 1,242 shares. The Israel-based Bancorporation Hapoalim Bm has invested 0.14% in Simon Property Group, Inc. (NYSE:SPG).

Exxonmobil Investment Management Inc, which manages about $3.65B US Long portfolio, upped its stake in Centurylink Inc Com (NYSE:CTL) by 54,312 shares to 154,678 shares, valued at $2.58M in 2017Q4, according to the filing.

Analysts await Simon Property Group, Inc. (NYSE:SPG) to report earnings on April, 27 before the open. They expect $2.83 EPS, up 3.28% or $0.09 from last year’s $2.74 per share. SPG’s profit will be $1.01 billion for 13.01 P/E if the $2.83 EPS becomes a reality. After $3.12 actual EPS reported by Simon Property Group, Inc. for the previous quarter, Wall Street now forecasts -9.29% negative EPS growth.

Investors sentiment decreased to 0.76 in 2017 Q4. Its down 0.14, from 0.9 in 2017Q3. It dropped, as 35 investors sold MMP shares while 186 reduced holdings. 49 funds opened positions while 118 raised stakes. 134.60 million shares or 0.07% more from 134.51 million shares in 2017Q3 were reported. Edgemoor Investment Advsr owns 0.7% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 74,715 shares. Kistler reported 999 shares. Two Sigma Securities Limited Liability Corporation owns 0.01% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 6,337 shares. Ancora Advsrs Limited Liability Corporation reported 0.2% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Benjamin F Edwards & Co Inc has invested 0% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP). Institute For Wealth Mngmt Lc owns 3,871 shares. Df Dent Co Incorporated stated it has 14,708 shares or 0.03% of all its holdings. Moreover, Epoch Invest Prtnrs has 0.43% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 1.83 million shares. Monetary Group Inc reported 2,000 shares. Commercial Bank Of Mellon Corp stated it has 116,756 shares. Grassi Mgmt has 8,950 shares for 0.1% of their portfolio. Wellington Mgmt Gru Ltd Liability Partnership holds 0% or 36,421 shares in its portfolio. Beach Mgmt Limited Liability Co holds 5.24% or 48,272 shares. Moreover, Weiss Multi has 0.06% invested in Magellan Midstream Partners, L.P. (NYSE:MMP). Moreover, Williams Jones Associates Ltd Company has 0.53% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 326,366 shares.

Among 23 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 13 have Buy rating, 3 Sell and 7 Hold. Therefore 57% are positive. Magellan Midstream Partners L.P. had 68 analyst reports since August 7, 2015 according to SRatingsIntel. The firm earned “Underweight” rating on Thursday, August 18 by Morgan Stanley. The stock has “Buy” rating by Ladenburg Thalmann on Wednesday, July 13. The firm has “Buy” rating by Citigroup given on Friday, August 7. The rating was maintained by JP Morgan on Monday, May 16 with “Neutral”. As per Tuesday, July 18, the company rating was downgraded by Barclays Capital. Credit Suisse downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) rating on Friday, February 5. Credit Suisse has “Neutral” rating and $70 target. RBC Capital Markets maintained the shares of MMP in report on Sunday, November 5 with “Hold” rating. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Outperform” rating by RBC Capital Markets on Wednesday, November 4. Stifel Nicolaus maintained Magellan Midstream Partners, L.P. (NYSE:MMP) on Thursday, September 7 with “Hold” rating. The company was downgraded on Thursday, January 12 by Raymond James.

Cushing Asset Management Lp, which manages about $4.99 billion and $3.31 billion US Long portfolio, decreased its stake in Energy Transfer Equity LP (NYSE:ETE) by 1.11M shares to 7.16M shares, valued at $123.53M in 2017Q4, according to the filing. It also reduced its holding in Gaslog Partners Lp (NYSE:GLOP) by 167,424 shares in the quarter, leaving it with 979,764 shares, and cut its stake in Martin Marietta Matls Inc (NYSE:MLM).

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

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