Fiduciary Financial Services of The Southwest Inc. TX Has $7.93 Million Stake in Magellan Midstream Partners, L.P. (MMP)

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Fiduciary Financial Services of The Southwest Inc. TX reduced its holdings in Magellan Midstream Partners, L.P. (NYSE:MMP) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 138,938 shares of the pipeline company’s stock after selling 1,255 shares during the period. Magellan Midstream Partners comprises approximately 2.5% of Fiduciary Financial Services of The Southwest Inc. TX’s portfolio, making the stock its 5th largest holding. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Magellan Midstream Partners were worth $7,928,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in Magellan Midstream Partners by 7.2% in the 2nd quarter. FMR LLC now owns 226,603 shares of the pipeline company’s stock valued at $15,654,000 after purchasing an additional 15,303 shares during the last quarter. United Services Automobile Association lifted its position in Magellan Midstream Partners by 17.5% in the 2nd quarter. United Services Automobile Association now owns 277,164 shares of the pipeline company’s stock valued at $19,146,000 after purchasing an additional 41,316 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Magellan Midstream Partners by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,048 shares of the pipeline company’s stock valued at $6,842,000 after purchasing an additional 5,154 shares during the last quarter. Northern Trust Corp lifted its position in Magellan Midstream Partners by 1.2% in the 2nd quarter. Northern Trust Corp now owns 157,464 shares of the pipeline company’s stock valued at $10,877,000 after purchasing an additional 1,816 shares during the last quarter. Finally, Walnut Private Equity Partners LLC lifted its position in Magellan Midstream Partners by 2.9% in the 3rd quarter. Walnut Private Equity Partners LLC now owns 225,805 shares of the pipeline company’s stock valued at $15,292,000 after purchasing an additional 6,400 shares during the last quarter. Institutional investors own 65.50% of the company’s stock.

A number of analysts have commented on the stock. Jefferies Financial Group downgraded shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday. SunTrust Banks assumed coverage on shares of Magellan Midstream Partners in a research report on Friday, January 18th. They set a “hold” rating and a $65.00 price target on the stock. ValuEngine upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Mizuho assumed coverage on shares of Magellan Midstream Partners in a research report on Wednesday, November 28th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Magellan Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $73.53.

Shares of MMP traded down $0.95 during mid-day trading on Thursday, hitting $62.70. The company’s stock had a trading volume of 22,248 shares, compared to its average volume of 866,057. The stock has a market capitalization of $14.52 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.45 and a beta of 0.78. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.60 and a quick ratio of 0.44. Magellan Midstream Partners, L.P. has a fifty-two week low of $54.25 and a fifty-two week high of $72.90.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings data on Thursday, November 1st. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.07. The company had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $621.97 million. Magellan Midstream Partners had a net margin of 47.75% and a return on equity of 43.31%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. As a group, equities research analysts forecast that Magellan Midstream Partners, L.P. will post 4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Thursday, February 7th will be paid a $0.9775 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $3.91 annualized dividend and a dividend yield of 6.24%. Magellan Midstream Partners’s dividend payout ratio is currently 102.62%.

In other news, insider Lisa J. Korner sold 10,000 shares of Magellan Midstream Partners stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $58.14, for a total value of $581,400.00. Following the transaction, the insider now owns 73,257 shares of the company’s stock, valued at approximately $4,259,161.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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Magellan Midstream Partners Profile

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

Further Reading: Why Net Income is Important to Investors

Want to see what other hedge funds are holding MMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magellan Midstream Partners, L.P. (NYSE:MMP).

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

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