Bbva Compass Bancshares Inc. lessened its stake in Magellan Midstream Partners L.P. (NYSE:MMP) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,402 shares of the pipeline company’s stock after selling 1,413 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Magellan Midstream Partners L.P. were worth $1,450,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MMP. Renaissance Technologies LLC acquired a new stake in shares of Magellan Midstream Partners L.P. in the 1st quarter valued at about $16,889,000. Independent Portfolio Consultants Inc. grew its position in shares of Magellan Midstream Partners L.P. by 4.6% during the 2nd 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 during the last quarter. Beacon Financial Group grew its position in shares of Magellan Midstream Partners L.P. by 3.4% during the 2nd quarter. Beacon Financial Group now owns 69,664 shares of the pipeline company’s stock valued at $4,896,000 after buying an additional 2,284 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of Magellan Midstream Partners L.P. during the 2nd quarter valued at about $552,000. Finally, Private Trust Co. NA grew its position in shares of Magellan Midstream Partners L.P. by 5.7% during the 2nd quarter. Private Trust Co. NA now owns 18,792 shares of the pipeline company’s stock valued at $1,339,000 after buying an additional 1,009 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

Magellan Midstream Partners L.P. (NYSE MMP) traded down $0.13 during trading on Friday, hitting $68.14. 994,033 shares of the stock traded hands, compared to its average volume of 702,170. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.71 and a quick ratio of 0.45. The firm has a market capitalization of $15.25 billion, a P/E ratio of 17.55, a PEG ratio of 2.27 and a beta of 0.78.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The business had revenue of $551.80 million during the quarter, compared to analysts’ expectations of $610.12 million. Magellan Midstream Partners L.P. had a net margin of 34.50% and a return on equity of 41.10%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. analysts expect that Magellan Midstream Partners L.P. will post 3.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, November 2nd will be issued a $0.905 dividend. The ex-dividend date is Wednesday, November 1st. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a dividend yield of 5.31%. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is 97.84%.

In other news, insider Jeff R. Selvidge sold 5,000 shares of the stock in a transaction that occurred 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 in the company, valued at $1,388,287.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

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MMP has been the subject of a number of recent research reports. UBS Group AG (USA) raised shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Tuesday, July 18th. Citigroup Inc raised shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, September 21st. Barclays PLC downgraded shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $77.00 in a research report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective (down previously from $73.00) on shares of Magellan Midstream Partners L.P. in a research report on Sunday, September 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $77.00 price objective on shares of Magellan Midstream Partners L.P. in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Magellan Midstream Partners L.P. currently has an average rating of “Hold” and a consensus target price of $79.04.

Magellan Midstream Partners L.P. Company Profile

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

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