Top 5 Stock Picks of Henry Breck’s Heronetta Management

3. Magellan Midstream Partners, L.P. (NYSE:MMP)

Heronetta Management’s Stake Value: $10.16 million

Percentage of Heronetta Management’s 13F Portfolio: 7.82%

Number of Hedge Fund Holders: 13

Magellan Midstream Partners, L.P. (NYSE:MMP) is an American petroleum and crude oil transportation, storage, and distribution company. The company was formerly a part of The Williams Companies, Inc. (NYSE:WMB) till 2003.

According to the recent filings, Heronetta Management owns 222,898 shares of Magellan Midstream Partners, L.P. (NYSE:MMP), worth $10.16 million, comprising 7.82% of the fund’s portfolio. The number of hedge funds investing in the company decreased from 14 in the first quarter to 13 in the second quarter of 2021.

Moreover, on 11th November, the company’s price target was raised from $50 to $52 by Mizuho analyst Gabriel Moreen. However, on 15^th November, Evercore ISI analyst Stephen Richardscon downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) from Outperform to In-Line.