Magellan Midstream Partners, L.P. (NYSE:MMP) Shares Acquired by Stephens Inc. AR

Stephens Inc. AR increased its stake in Magellan Midstream Partners, L.P. (NYSE:MMP) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,305 shares of the pipeline company’s stock after buying an additional 2,208 shares during the quarter. Stephens Inc. AR’s holdings in Magellan Midstream Partners were worth $6,355,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its position in shares of Magellan Midstream Partners by 0.5% during the 2nd quarter. Huntington National Bank now owns 31,373 shares of the pipeline company’s stock valued at $2,008,000 after acquiring an additional 160 shares during the last quarter. AGF Investments LLC lifted its holdings in Magellan Midstream Partners by 30.6% during the second quarter. AGF Investments LLC now owns 776 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 182 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in Magellan Midstream Partners by 2.5% during the first quarter. Adell Harriman & Carpenter Inc. now owns 8,198 shares of the pipeline company’s stock valued at $497,000 after purchasing an additional 200 shares in the last quarter. Rothschild Investment Corp IL lifted its holdings in Magellan Midstream Partners by 0.4% during the second quarter. Rothschild Investment Corp IL now owns 49,300 shares of the pipeline company’s stock valued at $3,155,000 after purchasing an additional 200 shares in the last quarter. Finally, TIAA FSB lifted its holdings in Magellan Midstream Partners by 2.1% during the first quarter. TIAA FSB now owns 10,237 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 71.00% of the company’s stock.

Shares of Magellan Midstream Partners stock traded up $0.18 during trading hours on Thursday, reaching $65.40. 13,163 shares of the company’s stock were exchanged, compared to its average volume of 852,171. The business’s 50 day moving average is $65.30. Magellan Midstream Partners, L.P. has a fifty-two week low of $54.25 and a fifty-two week high of $71.85. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 1.73. The firm has a market cap of $14.87 billion, a PE ratio of 15.39, a P/E/G ratio of 2.59 and a beta of 0.74.

Magellan Midstream Partners (NYSE:MMP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.13. Magellan Midstream Partners had a net margin of 48.33% and a return on equity of 38.48%. The company had revenue of $701.70 million for the quarter, compared to analysts’ expectations of $658.67 million. During the same period last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts predict that Magellan Midstream Partners, L.P. will post 4.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $1.013 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This is a positive change from Magellan Midstream Partners’s previous quarterly dividend of $0.92. This represents a $4.05 dividend on an annualized basis and a dividend yield of 6.20%. Magellan Midstream Partners’s payout ratio is currently 95.29%.

In other Magellan Midstream Partners news, insider Jeff R. Selvidge sold 4,000 shares of Magellan Midstream Partners stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.64, for a total transaction of $254,560.00. Following the transaction, the insider now owns 23,397 shares of the company’s stock, valued at $1,488,985.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Several equities analysts have weighed in on MMP shares. Bank of America lifted their price target on shares of Magellan Midstream Partners from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Stifel Nicolaus lifted their target price on Magellan Midstream Partners from $62.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Raymond James lifted their target price on Magellan Midstream Partners from $69.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Credit Suisse Group lifted their price objective on Magellan Midstream Partners from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $69.00.

Magellan Midstream Partners Company Profile

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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Institutional Ownership by Quarter for Magellan Midstream Partners (NYSE:MMP)

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