Magellan Midstream Partners L.P. (MMP) Shares Bought by Center Coast Capital Advisors LP

Center Coast Capital Advisors LP raised its position in Magellan Midstream Partners L.P. (NYSE:MMP) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,163,683 shares of the pipeline company’s stock after purchasing an additional 135,497 shares during the quarter. Magellan Midstream Partners L.P. accounts for approximately 3.8% of Center Coast Capital Advisors LP’s portfolio, making the stock its 14th largest position. Center Coast Capital Advisors LP owned about 0.95% of Magellan Midstream Partners L.P. worth $153,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathstone Family Office LLC purchased a new stake in Magellan Midstream Partners L.P. in the second quarter valued at approximately $148,000. Acrospire Investment Management LLC raised its position in Magellan Midstream Partners L.P. by 340.0% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock valued at $157,000 after purchasing an additional 1,700 shares during the period. Glenview State Bank Trust DEPT. purchased a new stake in Magellan Midstream Partners L.P. in the third quarter valued at approximately $223,000. MCF Advisors LLC raised its position in Magellan Midstream Partners L.P. by 1.1% in the second quarter. MCF Advisors LLC now owns 3,257 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 37 shares during the period. Finally, Doliver Capital Advisors LP purchased a new stake in Magellan Midstream Partners L.P. in the second quarter valued at approximately $234,000. 61.45% of the stock is currently owned by institutional investors.

In related news, insider Jeff R. Selvidge sold 5,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $70.64, for a total transaction of $353,200.00. Following the completion of the transaction, the insider now owns 19,653 shares in the company, valued at $1,388,287.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Several equities analysts have commented on the stock. Mizuho restated a “sell” rating and issued a $72.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Friday, October 20th. Citigroup Inc. upgraded shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, September 21st. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price target (down previously from $73.00) on shares of Magellan Midstream Partners L.P. in a research note on Sunday, September 3rd. BidaskClub downgraded shares of Magellan Midstream Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $77.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.04.

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Shares of Magellan Midstream Partners L.P. (MMP) traded down $0.45 during mid-day trading on Tuesday, hitting $65.77. 311,120 shares of the company were exchanged, compared to its average volume of 682,874. The company has a current ratio of 0.50, a quick ratio of 0.29 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $15,355.18, a P/E ratio of 17.67, a P/E/G ratio of 2.27 and a beta of 0.78. Magellan Midstream Partners L.P. has a 12-month low of $63.92 and a 12-month high of $81.77.

Magellan Midstream Partners L.P. (NYSE:MMP) last issued its earnings results on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. The firm had revenue of $551.80 million during the quarter, compared to the consensus estimate of $610.12 million. Magellan Midstream Partners L.P. had a net margin of 34.50% and a return on equity of 40.99%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. equities analysts expect that Magellan Midstream Partners L.P. will post 3.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Thursday, November 2nd will be paid a dividend of $0.905 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $3.62 dividend on an annualized basis and a dividend yield of 5.50%. This is an increase from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.89. Magellan Midstream Partners L.P.’s payout ratio is presently 97.84%.

Magellan Midstream Partners L.P. Company Profile

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

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