San Francisco Sentry Investment Group CA continued to hold its stake in shares of Magellan Midstream Partners L.P. (NYSE:MMP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,544 shares of the pipeline company’s stock at the end of the second quarter. San Francisco Sentry Investment Group CA’s holdings in Magellan Midstream Partners L.P. were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in shares of Magellan Midstream Partners L.P. by 2.5% in the second quarter. Macquarie Group Ltd. now owns 287,992 shares of the pipeline company’s stock worth $20,525,000 after acquiring an additional 7,000 shares in the last quarter. Institute for Wealth Management LLC. acquired a new stake in shares of Magellan Midstream Partners L.P. during the second quarter valued at approximately $300,000. First Allied Advisory Services Inc. raised its holdings in shares of Magellan Midstream Partners L.P. by 5.6% during the second quarter. First Allied Advisory Services Inc. now owns 20,779 shares of the pipeline company’s stock valued at $1,484,000 after acquiring an additional 1,094 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Magellan Midstream Partners L.P. during the second quarter valued at approximately $7,097,000. Finally, Chilton Capital Management LLC lifted its position in shares of Magellan Midstream Partners L.P. by 1.6% in the 2nd quarter. Chilton Capital Management LLC now owns 40,431 shares of the pipeline company’s stock valued at $2,882,000 after acquiring an additional 636 shares in the last quarter. 60.72% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Magellan Midstream Partners L.P. (MMP) traded down 0.83% on Wednesday, reaching $70.58. The company’s stock had a trading volume of 231,458 shares. The company has a 50 day moving average price of $68.52 and a 200 day moving average price of $71.63. The company has a market cap of $16.09 billion, a P/E ratio of 19.14 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.

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

Several brokerages recently commented on MMP. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, June 20th. Jefferies Group LLC began coverage on shares of Magellan Midstream Partners L.P. in a research report on Thursday, June 22nd. They set a “hold” rating and a $73.00 price objective on the stock. BidaskClub raised shares of Magellan Midstream Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Mizuho downgraded shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and cut their target price for the company from $74.00 to $72.00 in a research note on Monday, July 10th. Finally, Zacks Investment Research downgraded shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $79.37.

In related news, insider Jeff R. Selvidge sold 5,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $70.64, for a total value of $353,200.00. Following the completion of the transaction, the insider now directly owns 19,653 shares of the company’s stock, valued at approximately $1,388,287.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

About Magellan Midstream Partners L.P.

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

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