Teacher Retirement System of Texas maintained its position in shares of Magellan Midstream Partners L.P. (NYSE:MMP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,200 shares of the pipeline company’s stock at the end of the second quarter. Teacher Retirement System of Texas’ holdings in Magellan Midstream Partners L.P. were worth $9,636,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in MMP. Crescent Grove Advisors LLC purchased a new position in shares of Magellan Midstream Partners L.P. during the second quarter worth approximately $846,000. TradeLink Capital LLC purchased a new position in shares of Magellan Midstream Partners L.P. during the second quarter worth approximately $314,000. National Planning Corp raised its position in shares of Magellan Midstream Partners L.P. by 3.0% in the second quarter. National Planning Corp now owns 12,547 shares of the pipeline company’s stock worth $903,000 after buying an additional 361 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Magellan Midstream Partners L.P. by 20.4% in the second quarter. Global X Management Co. LLC now owns 769,708 shares of the pipeline company’s stock worth $54,857,000 after buying an additional 130,295 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in shares of Magellan Midstream Partners L.P. by 0.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 13,521,564 shares of the pipeline company’s stock worth $963,682,000 after buying an additional 62,371 shares during the last quarter. 62.46% of the stock is owned by institutional investors.

Shares of Magellan Midstream Partners L.P. (NYSE MMP) opened at 67.00 on Tuesday. Magellan Midstream Partners L.P. has a one year low of $64.25 and a one year high of $81.77. The stock has a 50 day moving average price of $69.86 and a 200 day moving average price of $74.22. The stock has a market capitalization of $15.28 billion, a P/E ratio of 18.17 and a beta of 0.80.

Magellan Midstream Partners L.P. (NYSE:MMP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million for the quarter, compared to analysts’ expectations of $561.70 million. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. Equities analysts forecast that Magellan Midstream Partners L.P. will post $3.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.89 per share. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. This represents a $3.56 annualized dividend and a dividend yield of 5.31%. The ex-dividend date was Thursday, July 27th. Magellan Midstream Partners L.P.’s payout ratio is currently 96.74%.

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A number of equities analysts recently commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $77.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Thursday, August 3rd. BidaskClub lowered Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued a “hold” rating and set a $80.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Monday, July 24th. Zacks Investment Research raised Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Barclays PLC lowered Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $77.00 in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Magellan Midstream Partners L.P. presently has a consensus rating of “Hold” and an average target price of $79.10.

In other news, insider Douglas J. May sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the transaction, the insider now directly owns 27,599 shares in the company, valued at approximately $2,069,925. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

About Magellan Midstream Partners L.P.

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

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