Magellan Midstream Partners, L.P. (NYSE:MMP) insider Douglas J. May sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $68.69, for a total value of $343,450.00. Following the transaction, the insider now owns 33,000 shares of the company’s stock, valued at $2,266,770. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NYSE:MMP traded down $0.65 during midday trading on Monday, hitting $68.25. 625,600 shares of the company traded hands, compared to its average volume of 922,284. Magellan Midstream Partners, L.P. has a 12-month low of $54.82 and a 12-month high of $75.82. The firm has a market capitalization of $15.72 billion, a PE ratio of 18.14, a PEG ratio of 2.75 and a beta of 0.80. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.31 and a current ratio of 0.54.

Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Magellan Midstream Partners had a return on equity of 42.90% and a net margin of 33.54%. The company had revenue of $644.10 million for the quarter, compared to analyst estimates of $662.37 million. During the same quarter in the prior year, the firm posted $0.91 EPS. Magellan Midstream Partners’s quarterly revenue was up 4.0% compared to the same quarter last year. equities analysts forecast that Magellan Midstream Partners, L.P. will post 4.18 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in MMP. Wells Fargo & Company MN raised its holdings in Magellan Midstream Partners by 15.9% during the 1st quarter. Wells Fargo & Company MN now owns 845,071 shares of the pipeline company’s stock valued at $49,310,000 after buying an additional 116,075 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in Magellan Midstream Partners by 1.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,503,077 shares of the pipeline company’s stock valued at $204,387,000 after buying an additional 38,100 shares during the period. Aperio Group LLC raised its holdings in Magellan Midstream Partners by 19.4% during the 1st quarter. Aperio Group LLC now owns 7,291 shares of the pipeline company’s stock valued at $425,000 after buying an additional 1,185 shares during the period. Envestnet Asset Management Inc. raised its holdings in Magellan Midstream Partners by 61.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,862 shares of the pipeline company’s stock valued at $1,055,000 after buying an additional 6,403 shares during the period. Finally, BlackRock Inc. increased its stake in Magellan Midstream Partners by 3.1% in the first quarter. BlackRock Inc. now owns 1,031,982 shares of the pipeline company’s stock worth $60,216,000 after purchasing an additional 30,674 shares during the period. Institutional investors own 63.78% of the company’s stock.

A number of research analysts have recently commented on MMP shares. ValuEngine downgraded Magellan Midstream Partners from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded Magellan Midstream Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Monday, July 16th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Magellan Midstream Partners in a research report on Friday, July 13th. Jefferies Financial Group downgraded Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Stifel Nicolaus increased their target price on Magellan Midstream Partners from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $74.33.

About Magellan Midstream Partners

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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