Evergreen Capital Management LLC raised its position in Magellan Midstream Partners L.P. (NYSE:MMP) by 87.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,285 shares of the pipeline company’s stock after buying an additional 7,585 shares during the period. Evergreen Capital Management LLC’s holdings in Magellan Midstream Partners L.P. were worth $1,161,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Founders Capital Management purchased a new position in Magellan Midstream Partners L.P. during the first quarter valued at about $109,000. Catalyst Capital Advisors LLC increased its position in Magellan Midstream Partners L.P. by 23.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock valued at $121,000 after buying an additional 300 shares in the last quarter. NEXT Financial Group Inc increased its position in Magellan Midstream Partners L.P. by 7.5% in the second quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock valued at $129,000 after buying an additional 126 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in Magellan Midstream Partners L.P. by 4.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock valued at $140,000 after buying an additional 87 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in Magellan Midstream Partners L.P. by 444.9% in the first quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock valued at $148,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 60.81% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (NYSE MMP) opened at 66.03 on Wednesday. The company has a market cap of $15.06 billion, a PE ratio of 17.90 and a beta of 0.80. Magellan Midstream Partners L.P. has a 52-week low of $63.92 and a 52-week high of $81.77. The company has a 50 day moving average of $68.62 and a 200-day moving average of $73.37.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 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 firm had revenue of $619.40 million during the quarter, compared to analysts’ expectations of $561.70 million. During the same period last year, the company posted $0.82 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Analysts forecast that Magellan Midstream Partners L.P. will post $3.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.39%. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date was Thursday, July 27th. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is currently 96.74%.

TRADEMARK VIOLATION NOTICE: “Magellan Midstream Partners L.P. (MMP) Shares Bought by Evergreen Capital Management LLC” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.watchlistnews.com/magellan-midstream-partners-l-p-mmp-shares-bought-by-evergreen-capital-management-llc/1531874.html.

MMP has been the topic of several research reports. Credit Suisse Group raised Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $84.00 in a report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $80.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Tuesday, June 20th. Jefferies Group LLC initiated coverage on Magellan Midstream Partners L.P. in a report on Thursday, June 22nd. They set a “hold” rating and a $73.00 price objective on the stock. BidaskClub raised Magellan Midstream Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Mizuho downgraded Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $74.00 to $72.00 in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $79.40.

About Magellan Midstream Partners L.P.

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

Receive News & Ratings for Magellan Midstream Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Midstream Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.