Oppenheimer & Co. Inc. raised its stake in Magellan Midstream Partners, L.P. (NYSE:MMP) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,581 shares of the pipeline company’s stock after purchasing an additional 1,497 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Magellan Midstream Partners were worth $1,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of MMP. Pathstone Family Office LLC purchased a new stake in shares of Magellan Midstream Partners in the second quarter worth approximately $148,000. Acrospire Investment Management LLC increased its position in shares of Magellan Midstream Partners by 340.0% during the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock valued at $157,000 after acquiring an additional 1,700 shares during the last quarter. Glenview State Bank Trust DEPT. purchased a new stake in shares of Magellan Midstream Partners during the third quarter valued at approximately $223,000. Doliver Capital Advisors LP purchased a new stake in shares of Magellan Midstream Partners during the second quarter valued at approximately $234,000. Finally, M&R Capital Management Inc. increased its position in shares of Magellan Midstream Partners by 16.7% during the second quarter. M&R Capital Management Inc. now owns 3,500 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 500 shares during the last quarter. 55.49% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on MMP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $77.00 price target on shares of Magellan Midstream Partners in a research report on Thursday, August 3rd. BidaskClub downgraded Magellan Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price target (down from $73.00) on shares of Magellan Midstream Partners in a research report on Sunday, September 3rd. Citigroup Inc. raised Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, September 21st. Finally, Mizuho reissued a “sell” rating and issued a $72.00 target price on shares of Magellan Midstream Partners in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.04.

In related news, insider Jeff R. Selvidge sold 5,000 shares of Magellan Midstream Partners stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $70.64, for a total transaction of $353,200.00. Following the completion of the sale, the insider now owns 19,653 shares of the company’s stock, valued at $1,388,287.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by company insiders.

Magellan Midstream Partners, L.P. (MMP) traded down $0.23 during trading on Monday, hitting $66.05. The stock had a trading volume of 97,584 shares, compared to its average volume of 694,146. The company has a market capitalization of $15,113.50, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.25 and a beta of 0.78. Magellan Midstream Partners, L.P. has a 52-week low of $63.55 and a 52-week high of $81.77. The company has a quick ratio of 0.29, a current ratio of 0.50 and a debt-to-equity ratio of 1.90.

Magellan Midstream Partners (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 Thomson Reuters’ consensus estimate of $0.95 by $0.02. The company had revenue of $551.80 million during the quarter, compared to analyst estimates of $610.12 million. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. research analysts forecast that Magellan Midstream Partners, L.P. will post 3.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Thursday, November 2nd were paid a dividend of $0.905 per share. This is a positive change from Magellan Midstream Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Wednesday, November 1st. This represents a $3.62 annualized dividend and a yield of 5.48%. Magellan Midstream Partners’s dividend payout ratio (DPR) is currently 97.84%.

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Magellan Midstream Partners Profile

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

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