Linscomb & Williams Inc. Has $852,000 Stake in Magellan Midstream Partners, L.P. (NYSE:MMP)

Linscomb & Williams Inc. grew its position in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,640 shares of the pipeline company’s stock after buying an additional 1,074 shares during the quarter. Linscomb & Williams Inc.’s holdings in Magellan Midstream Partners were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Magellan Midstream Partners by 9.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,670,405 shares of the pipeline company’s stock valued at $155,772,000 after acquiring an additional 324,933 shares in the last quarter. Disciplined Investments LLC raised its stake in shares of Magellan Midstream Partners by 59,056.3% in the 1st quarter. Disciplined Investments LLC now owns 18,930 shares of the pipeline company’s stock valued at $821,000 after acquiring an additional 18,898 shares in the last quarter. Marcum Wealth LLC bought a new position in shares of Magellan Midstream Partners in the 1st quarter valued at approximately $225,000. Bollard Group LLC raised its stake in shares of Magellan Midstream Partners by 9.3% in the 1st quarter. Bollard Group LLC now owns 522,400 shares of the pipeline company’s stock valued at $22,651,000 after acquiring an additional 44,341 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Magellan Midstream Partners in the 1st quarter valued at approximately $1,487,000. Institutional investors and hedge funds own 59.62% of the company’s stock.

MMP opened at $53.53 on Friday. The company has a market capitalization of $11.95 billion, a PE ratio of 16.03 and a beta of 1.11. The company has a current ratio of 0.85, a quick ratio of 0.47 and a debt-to-equity ratio of 2.18. Magellan Midstream Partners, L.P. has a 1 year low of $32.61 and a 1 year high of $53.54. The company’s 50 day moving average price is $47.85.

Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings data on Thursday, April 29th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.22. The business had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $661.52 million. Magellan Midstream Partners had a return on equity of 34.70% and a net margin of 32.55%. Magellan Midstream Partners’s quarterly revenue was down 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. Analysts anticipate that Magellan Midstream Partners, L.P. will post 3.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Friday, May 7th were paid a $1.028 dividend. This is a positive change from Magellan Midstream Partners’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $4.11 annualized dividend and a yield of 7.68%. Magellan Midstream Partners’s payout ratio is currently 107.03%.

A number of brokerages recently weighed in on MMP. Raymond James raised their price objective on Magellan Midstream Partners from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. TheStreet downgraded Magellan Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, March 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Magellan Midstream Partners in a research report on Thursday, March 18th. Morgan Stanley downgraded Magellan Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a research report on Wednesday, May 26th. Finally, Wells Fargo & Company lifted their price target on Magellan Midstream Partners from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 13th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.59.

In related news, SVP Lisa J. Korner sold 10,000 shares of the business’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $47.62, for a total value of $476,200.00. Following the sale, the senior vice president now owns 82,953 shares of the company’s stock, valued at approximately $3,950,221.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

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 and Crude Oil segments. It operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to refiners, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.

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

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