Magellan Midstream Partners, L.P. (NYSE:MMP) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $69.46.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Magellan Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. LADENBURG THALM/SH SH set a $75.00 price target on shares of Magellan Midstream Partners and gave the stock a “buy” rating in a research note on Tuesday, March 26th. ValuEngine upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Bank of America lowered shares of Magellan Midstream Partners from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $69.00 to $62.00 in a research note on Wednesday, February 27th. Finally, Credit Suisse Group decreased their price target on shares of Magellan Midstream Partners from $76.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, February 11th.

In other Magellan Midstream Partners news, insider Jeff R. Selvidge sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $60.34, for a total value of $150,850.00. Following the completion of the transaction, the insider now directly owns 25,897 shares of the company’s stock, valued at approximately $1,562,624.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lisa J. Korner sold 6,958 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $59.29, for a total transaction of $412,539.82. Following the completion of the transaction, the insider now directly owns 74,517 shares of the company’s stock, valued at $4,418,112.93. The disclosure for this sale can be found here. Insiders sold a total of 43,696 shares of company stock valued at $2,597,682 over the last quarter. 0.26% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Harvest Fund Advisors LLC boosted its holdings in Magellan Midstream Partners by 3.7% in the 4th quarter. Harvest Fund Advisors LLC now owns 7,561,427 shares of the pipeline company’s stock valued at $431,455,000 after purchasing an additional 267,644 shares during the period. Centric Wealth Management bought a new position in Magellan Midstream Partners in the 4th quarter valued at $292,000. Rothschild Investment Corp IL boosted its holdings in Magellan Midstream Partners by 29.9% in the 4th quarter. Rothschild Investment Corp IL now owns 49,100 shares of the pipeline company’s stock valued at $2,802,000 after purchasing an additional 11,300 shares during the period. Tortoise Index Solutions LLC boosted its holdings in Magellan Midstream Partners by 110.5% in the 4th quarter. Tortoise Index Solutions LLC now owns 83,210 shares of the pipeline company’s stock valued at $4,748,000 after purchasing an additional 43,677 shares during the period. Finally, United Income Inc. bought a new position in Magellan Midstream Partners in the 4th quarter valued at $986,000. 66.59% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MMP opened at $62.86 on Thursday. Magellan Midstream Partners has a fifty-two week low of $54.25 and a fifty-two week high of $72.90. The stock has a market capitalization of $14.36 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59.

Magellan Midstream Partners (NYSE:MMP) last posted its earnings results on Thursday, January 31st. The pipeline company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.13). Magellan Midstream Partners had a return on equity of 40.90% and a net margin of 47.19%. The firm had revenue of $865.68 million for the quarter, compared to the consensus estimate of $710.21 million. As a group, sell-side analysts expect that Magellan Midstream Partners will post 4.04 earnings per share for the current year.

Magellan Midstream Partners Company Profile

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 diesel fuel, kerosene, heating oil, 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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Analyst Recommendations for Magellan Midstream Partners (NYSE:MMP)

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