Uniplan Investment Counsel Inc. Acquires 2,931 Shares of Magellan Midstream Partners L.P. (MMP)

Uniplan Investment Counsel Inc. raised its holdings in Magellan Midstream Partners L.P. (NYSE:MMP) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,460 shares of the pipeline company’s stock after buying an additional 2,931 shares during the period. Uniplan Investment Counsel Inc.’s holdings in Magellan Midstream Partners L.P. were worth $2,242,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Founders Capital Management purchased a new position in Magellan Midstream Partners L.P. in the 1st quarter valued at approximately $109,000. Catalyst Capital Advisors LLC boosted its position in Magellan Midstream Partners L.P. by 23.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock valued at $121,000 after buying an additional 300 shares during the period. NEXT Financial Group Inc boosted its position in Magellan Midstream Partners L.P. by 7.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock valued at $129,000 after buying an additional 126 shares during the period. AlphaMark Advisors LLC boosted its position in Magellan Midstream Partners L.P. by 444.9% in the 1st quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock valued at $148,000 after buying an additional 1,575 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its position in Magellan Midstream Partners L.P. by 4.6% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock valued at $140,000 after buying an additional 87 shares during the period. 60.80% of the stock is owned by institutional investors.

Several equities analysts have commented on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Monday, July 24th. Barclays PLC cut shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $77.00 in a research report on Tuesday, July 18th. Stifel Nicolaus reissued a “hold” rating and issued a $81.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Wednesday, July 19th. BidaskClub cut shares of Magellan Midstream Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $79.19.

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Shares of Magellan Midstream Partners L.P. (NYSE:MMP) opened at 69.988 on Wednesday. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 18.977 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. The company’s 50-day moving average is $67.81 and its 200 day moving average is $72.42.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The firm had revenue of $619.40 million for the quarter, compared to the consensus estimate of $561.70 million. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. Analysts anticipate that Magellan Midstream Partners L.P. will post $3.91 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.08%. This is an increase from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date was Thursday, July 27th. Magellan Midstream Partners L.P.’s dividend payout ratio is 96.74%.

About Magellan Midstream Partners L.P.

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

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