First National Trust Co lessened its holdings in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,995 shares of the pipeline company’s stock after selling 1,738 shares during the quarter. First National Trust Co’s holdings in Magellan Midstream Partners were worth $1,631,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MMP. Pathstone Family Office LLC purchased a new stake in shares of Magellan Midstream Partners during the second quarter worth approximately $148,000. Glenview State Bank Trust DEPT. purchased a new stake in shares of Magellan Midstream Partners during the third quarter worth approximately $223,000. Doliver Capital Advisors LP purchased a new stake in shares of Magellan Midstream Partners during the second quarter worth approximately $234,000. M&R Capital Management Inc. increased its stake in shares of Magellan Midstream Partners by 16.7% during the second quarter. M&R Capital Management Inc. now owns 3,500 shares of the pipeline company’s stock worth $235,000 after buying an additional 500 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Magellan Midstream Partners during the third quarter worth approximately $279,000. 62.05% of the stock is currently owned by institutional investors and hedge funds.

MMP has been the topic of a number of recent research reports. Mizuho restated a “sell” rating and set a $72.00 target price on shares of Magellan Midstream Partners in a research note on Friday, October 20th. Royal Bank of Canada restated a “hold” rating and set a $81.00 target price on shares of Magellan Midstream Partners in a research note on Tuesday. BMO Capital Markets initiated coverage on shares of Magellan Midstream Partners in a research note on Monday, December 11th. They set a “buy” rating and a $80.00 target price on the stock. Citigroup upgraded shares of Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, September 21st. Finally, Bank of America initiated coverage on shares of Magellan Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.51.

Magellan Midstream Partners, L.P. (NYSE MMP) opened at $73.49 on Thursday. The company has a market cap of $16,946.79, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. Magellan Midstream Partners, L.P. has a one year low of $63.55 and a one year high of $81.77. The company has a quick ratio of 0.29, a current ratio of 0.50 and a debt-to-equity ratio of 1.90.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. The company had revenue of $551.80 million for the quarter, compared to analyst estimates of $610.12 million. Magellan Midstream Partners had a net margin of 34.50% and a return on equity of 40.99%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. equities research analysts anticipate that Magellan Midstream Partners, L.P. will post 3.87 EPS for the current fiscal year.

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Magellan Midstream Partners Company Profile

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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

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