Magellan Midstream Partners, L.P. (MMP) SVP Jeff R. Selvidge Sells 5,500 Shares
Magellan Midstream Partners, L.P. (NYSE:MMP) SVP Jeff R. Selvidge sold 5,500 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $68.70, for a total transaction of $377,850.00. Following the completion of the transaction, the senior vice president now owns 20,380 shares of the company’s stock, valued at approximately $1,400,106. The sale was disclosed in a filing with the SEC, which is available at this link.
MMP stock opened at $68.25 on Tuesday. Magellan Midstream Partners, L.P. has a 12 month low of $54.82 and a 12 month high of $75.82. The firm has a market capitalization of $15.72 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 2.75 and a beta of 0.80. The company has a quick ratio of 0.31, a current ratio of 0.54 and a debt-to-equity ratio of 2.04.
Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. Magellan Midstream Partners had a net margin of 33.54% and a return on equity of 42.90%. The firm had revenue of $644.10 million during the quarter, compared to the consensus estimate of $662.37 million. During the same quarter in the prior year, the firm earned $0.91 EPS. Magellan Midstream Partners’s revenue for the quarter was up 4.0% on a year-over-year basis. equities research analysts forecast that Magellan Midstream Partners, L.P. will post 4.18 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in MMP. Summit Trail Advisors LLC raised its position in Magellan Midstream Partners by 5,724.2% during the 1st quarter. Summit Trail Advisors LLC now owns 3,536,193 shares of the pipeline company’s stock worth $3,536,000 after buying an additional 3,475,477 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Magellan Midstream Partners during the 2nd quarter worth $119,556,000. UBS Group AG raised its position in Magellan Midstream Partners by 21.2% during the 1st quarter. UBS Group AG now owns 4,998,567 shares of the pipeline company’s stock worth $291,667,000 after buying an additional 875,208 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Magellan Midstream Partners by 4.2% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 14,648,222 shares of the pipeline company’s stock worth $854,724,000 after buying an additional 593,762 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC purchased a new position in Magellan Midstream Partners during the 1st quarter worth $33,304,000. Hedge funds and other institutional investors own 63.78% of the company’s stock.
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, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, 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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