Magellan Midstream Partners, L.P. (NYSE:MMP) Shares Bought by Homrich & Berg

Homrich & Berg grew its holdings in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 8.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,897 shares of the pipeline company’s stock after purchasing an additional 2,104 shares during the period. Homrich & Berg’s holdings in Magellan Midstream Partners were worth $1,785,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MMP. Comerica Securities Inc. boosted its position in shares of Magellan Midstream Partners by 72.3% during the 4th quarter. Comerica Securities Inc. now owns 5,127 shares of the pipeline company’s stock worth $293,000 after purchasing an additional 2,152 shares during the period. Callahan Advisors LLC acquired a new stake in shares of Magellan Midstream Partners in the 1st quarter valued at $212,000. CWM LLC raised its holdings in shares of Magellan Midstream Partners by 103.7% in the 1st quarter. CWM LLC now owns 556 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 283 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Magellan Midstream Partners in the 1st quarter valued at $49,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Magellan Midstream Partners in the 1st quarter valued at $731,000. 70.17% of the stock is currently owned by institutional investors.

In other Magellan Midstream Partners news, insider Jeff R. Selvidge sold 7,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $66.38, for a total transaction of $464,660.00. Following the transaction, the insider now directly owns 17,897 shares of the company’s stock, valued at approximately $1,188,002.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff R. Selvidge sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.64, for a total transaction of $254,560.00. Following the transaction, the insider now directly owns 23,397 shares in the company, valued at $1,488,985.08. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

NYSE:MMP traded up $0.24 during midday trading on Wednesday, hitting $67.57. 36,366 shares of the company were exchanged, compared to its average volume of 862,417. The company has a fifty day simple moving average of $65.64 and a 200 day simple moving average of $62.37. Magellan Midstream Partners, L.P. has a fifty-two week low of $54.25 and a fifty-two week high of $71.85. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $15.43 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.13. Magellan Midstream Partners had a net margin of 48.33% and a return on equity of 38.48%. The firm had revenue of $701.70 million for the quarter, compared to analyst estimates of $658.67 million. During the same period last year, the business earned $0.94 EPS. Magellan Midstream Partners’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Magellan Midstream Partners, L.P. will post 4.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $1.013 per share. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.92. This represents a $4.05 annualized dividend and a yield of 6.00%. The ex-dividend date was Tuesday, August 6th. Magellan Midstream Partners’s dividend payout ratio (DPR) is presently 95.29%.

A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Credit Suisse Group raised their price objective on shares of Magellan Midstream Partners from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Stifel Nicolaus raised their price objective on shares of Magellan Midstream Partners from $62.00 to $68.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Johnson Rice assumed coverage on shares of Magellan Midstream Partners in a report on Thursday, May 30th. They issued an “accumulate” rating and a $71.00 price objective on the stock. Finally, Raymond James raised their price objective on shares of Magellan Midstream Partners from $69.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Magellan Midstream Partners currently has an average rating of “Hold” and an average target price of $69.00.

Magellan Midstream Partners Profile

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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

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