Stephens Inc. AR Has $5.04 Million Holdings in Magellan Midstream Partners L.P. (MMP)

Stephens Inc. AR cut its stake in Magellan Midstream Partners L.P. (NYSE:MMP) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,656 shares of the pipeline company’s stock after selling 1,670 shares during the period. Stephens Inc. AR’s holdings in Magellan Midstream Partners L.P. were worth $5,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMP. Founders Capital Management acquired a new position in shares of Magellan Midstream Partners L.P. during the 1st quarter worth $109,000. Catalyst Capital Advisors LLC raised its holdings in shares of Magellan Midstream Partners L.P. by 23.7% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock worth $121,000 after buying an additional 300 shares in the last quarter. NEXT Financial Group Inc raised its holdings in shares of Magellan Midstream Partners L.P. by 7.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock worth $129,000 after buying an additional 126 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Magellan Midstream Partners L.P. by 444.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock worth $148,000 after buying an additional 1,575 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its holdings in shares of Magellan Midstream Partners L.P. by 4.6% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock worth $140,000 after buying an additional 87 shares in the last quarter. 60.80% of the stock is owned by hedge funds and other institutional investors.

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Shares of Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.01% during midday trading on Tuesday, hitting $69.69. The company had a trading volume of 189,647 shares. The firm’s 50 day moving average is $67.76 and its 200 day moving average is $72.44. The company has a market capitalization of $15.89 billion, a P/E ratio of 18.90 and a beta of 0.80. Magellan Midstream Partners L.P. has a 52 week low of $63.92 and a 52 week high of $81.77.

Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The firm had revenue of $619.40 million for the quarter, compared to the consensus estimate of $561.70 million. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Equities research analysts anticipate that Magellan Midstream Partners L.P. will post $3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.89 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $3.56 annualized dividend and a dividend yield of 5.11%. This is an increase from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. Magellan Midstream Partners L.P.’s payout ratio is currently 96.74%.

MMP has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target (down previously from $73.00) on shares of Magellan Midstream Partners L.P. in a report on Sunday, September 3rd. Barclays PLC cut Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $77.00 in a report on Tuesday, July 18th. BidaskClub raised Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $80.00 target price on shares of Magellan Midstream Partners L.P. in a report on Tuesday, June 20th. Finally, UBS AG raised Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $79.19.

Magellan Midstream Partners L.P. Profile

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

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