Magellan Midstream Partners, L.P. (MMP) Stake Lessened by Raub Brock Capital Management LP

Raub Brock Capital Management LP reduced its position in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,137 shares of the pipeline company’s stock after selling 5,206 shares during the period. Magellan Midstream Partners makes up about 3.1% of Raub Brock Capital Management LP’s portfolio, making the stock its 19th biggest holding. Raub Brock Capital Management LP owned approximately 0.08% of Magellan Midstream Partners worth $12,708,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC acquired a new stake in Magellan Midstream Partners during the 2nd quarter worth approximately $148,000. Acrospire Investment Management LLC increased its stake in Magellan Midstream Partners by 340.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock worth $157,000 after acquiring an additional 1,700 shares during the period. Glenview State Bank Trust DEPT. bought a new position in Magellan Midstream Partners during the 3rd quarter worth $223,000. Doliver Capital Advisors LP bought a new position in Magellan Midstream Partners during the 2nd quarter worth $234,000. Finally, M&R Capital Management Inc. increased its stake in Magellan Midstream Partners by 16.7% during the 2nd quarter. M&R Capital Management Inc. now owns 3,500 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 500 shares during the period. 62.04% of the stock is owned by institutional investors and hedge funds.

Shares of Magellan Midstream Partners, L.P. (NYSE:MMP) traded up $1.95 on Thursday, hitting $72.96. The stock had a trading volume of 1,304,900 shares, compared to its average volume of 1,074,550. Magellan Midstream Partners, L.P. has a one year low of $63.55 and a one year high of $81.77. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. The company has a market cap of $16,750.00, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

Magellan Midstream Partners (NYSE:MMP) last issued its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The company had revenue of $551.80 million for the quarter, compared to analyst estimates of $610.12 million. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. equities analysts expect that Magellan Midstream Partners, L.P. will post 3.87 earnings per share for the current fiscal year.

A number of equities analysts have commented on the company. Citigroup upgraded Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Thursday, September 21st. Mizuho restated a “sell” rating and set a $72.00 price objective on shares of Magellan Midstream Partners in a research note on Friday, October 20th. Finally, BMO Capital Markets assumed coverage on Magellan Midstream Partners in a research note on Monday, December 11th. They set a “buy” rating and a $80.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Magellan Midstream Partners has an average rating of “Hold” and an average price target of $77.97.

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About Magellan Midstream Partners

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

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