Winslow Evans & Crocker Inc. reduced its position in Magellan Midstream Partners L.P. (NYSE:MMP) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 32,504 shares of the company’s stock after selling 609 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Magellan Midstream Partners L.P. were worth $2,470,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. ING Groep NV increased its stake in shares of Magellan Midstream Partners L.P. by 174.9% in the first quarter. ING Groep NV now owns 1,998,489 shares of the company’s stock worth $137,416,000 after buying an additional 1,271,489 shares during the period. Center Coast Capital Advisors LP increased its stake in Magellan Midstream Partners L.P. by 33.7% in the first quarter. Center Coast Capital Advisors LP now owns 1,730,142 shares of the company’s stock worth $119,034,000 after buying an additional 435,782 shares during the last quarter. Harvest Fund Advisors LLC increased its stake in Magellan Midstream Partners L.P. by 5.9% in the first quarter. Harvest Fund Advisors LLC now owns 6,697,131 shares of the company’s stock worth $460,763,000 after buying an additional 375,058 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Magellan Midstream Partners L.P. by 109.9% in the first quarter. Nuveen Asset Management LLC now owns 557,893 shares of the company’s stock worth $38,383,000 after buying an additional 292,137 shares during the last quarter. Finally, TPH Asset Management LLC increased its stake in Magellan Midstream Partners L.P. by 400.3% in the first quarter. TPH Asset Management LLC now owns 180,201 shares of the company’s stock worth $12,398,000 after buying an additional 144,185 shares during the last quarter. Institutional investors own 62.35% of the company’s stock.

Magellan Midstream Partners L.P. (NYSE:MMP) traded up 0.03% during mid-day trading on Friday, reaching $67.84. The company’s stock had a trading volume of 1,079,561 shares. The firm’s 50 day moving average is $70.62 and its 200-day moving average is $70.89. The stock has a market cap of $15.45 billion, a P/E ratio of 18.19 and a beta of 0.65. Magellan Midstream Partners L.P. has a one year low of $54.51 and a one year high of $77.45.

Magellan Midstream Partners L.P. (NYSE:MMP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. The firm had revenue of $518.90 million for the quarter, compared to analysts’ expectations of $519.12 million. Magellan Midstream Partners L.P. had a net margin of 38.97% and a return on equity of 38.58%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. Equities analysts expect that Magellan Midstream Partners L.P. will post $3.53 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $73.00 price target on Magellan Midstream Partners L.P. and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $74.00 price target on Magellan Midstream Partners L.P. and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Wunderlich restated a “hold” rating and set a $71.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Friday, August 5th. Finally, Seaport Global Securities assumed coverage on Magellan Midstream Partners L.P. in a research report on Tuesday, June 14th. They set a “buy” rating and a $82.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $77.89.

Magellan Midstream Partners L.P. Company Profile

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