Barings LLC maintained its position in Magellan Midstream Partners L.P. (NYSE:MMP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,400 shares of the pipeline company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Magellan Midstream Partners L.P. were worth $3,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MMP. NEXT Financial Group Inc raised 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 worth $129,000 after purchasing an additional 126 shares during the period. Independent Portfolio Consultants Inc. raised 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 worth $140,000 after purchasing an additional 87 shares during the period. SRS Capital Advisors Inc. raised its position in Magellan Midstream Partners L.P. by 16.0% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,009 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 277 shares during the period. Pathstone Family Office LLC purchased a new position in Magellan Midstream Partners L.P. in the 2nd quarter worth $148,000. Finally, Acrospire Investment Management LLC raised its position in Magellan Midstream Partners L.P. by 340.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock worth $157,000 after purchasing an additional 1,700 shares during the period. 60.72% of the stock is owned by institutional investors.

In other Magellan Midstream Partners L.P. news, insider Jeff R. Selvidge sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $70.64, for a total transaction of $353,200.00. Following the transaction, the insider now owns 19,653 shares of the company’s stock, valued at approximately $1,388,287.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

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Shares of Magellan Midstream Partners L.P. (NYSE MMP) traded down 1.21% during trading on Friday, hitting $70.12. 41,080 shares of the company traded hands. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 19.01 and a beta of 0.79. Magellan Midstream Partners L.P. has a 52 week low of $63.92 and a 52 week high of $81.77. The company has a 50 day moving average price of $68.82 and a 200 day moving average price of $71.62.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The company had revenue of $619.40 million for the quarter, compared to the consensus estimate of $561.70 million. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. On average, analysts expect that Magellan Midstream Partners L.P. will post $3.89 earnings per share for the current year.

A number of equities analysts recently commented on the stock. BidaskClub cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Mizuho cut shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $74.00 to $72.00 in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Monday, July 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $81.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Magellan Midstream Partners L.P. presently has a consensus rating of “Hold” and an average price target of $79.04.

About Magellan Midstream Partners L.P.

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

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