Selz Capital LLC maintained its position in Magellan Midstream Partners L.P. (NYSE:MMP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 434,650 shares of the company’s stock at the end of the third quarter. Magellan Midstream Partners L.P. accounts for about 7.2% of Selz Capital LLC’s holdings, making the stock its 2nd largest position. Selz Capital LLC owned approximately 0.19% of Magellan Midstream Partners L.P. worth $30,747,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Magellan Midstream Partners L.P. by 1.3% in the second quarter. BlackRock Inc. now owns 2,758 shares of the company’s stock worth $210,000 after buying an additional 35 shares in the last quarter. Buckingham Asset Management LLC increased its position in Magellan Midstream Partners L.P. by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 5,591 shares of the company’s stock worth $425,000 after buying an additional 39 shares in the last quarter. V Wealth Management LLC increased its position in Magellan Midstream Partners L.P. by 0.6% in the second quarter. V Wealth Management LLC now owns 6,871 shares of the company’s stock worth $521,000 after buying an additional 40 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of Magellan Midstream Partners L.P. by 2.6% in the second quarter. Carroll Financial Associates Inc. now owns 1,994 shares of the company’s stock valued at $151,000 after buying an additional 50 shares during the period. Finally, Pennsylvania Trust Co increased its position in shares of Magellan Midstream Partners L.P. by 0.4% in the second quarter. Pennsylvania Trust Co now owns 15,648 shares of the company’s stock valued at $1,189,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 62.55% of the company’s stock.

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

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) opened at 71.48 on Wednesday. The stock has a market capitalization of $16.28 billion, a P/E ratio of 19.16 and a beta of 0.71. Magellan Midstream Partners L.P. has a 52-week low of $54.51 and a 52-week high of $77.45. The firm has a 50-day moving average price of $70.03 and a 200-day moving average price of $71.09.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its earnings results on Tuesday, August 2nd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Magellan Midstream Partners L.P. had a return on equity of 38.58% and a net margin of 38.97%. The firm had revenue of $518.90 million for the quarter, compared to the consensus estimate of $519.12 million. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that Magellan Midstream Partners L.P. will post $3.52 EPS for the current year.

MMP has been the topic of several analyst reports. Zacks Investment Research downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Ladenburg Thalmann initiated coverage on Magellan Midstream Partners L.P. in a report on Wednesday, July 13th. They set a “buy” rating on the stock. Credit Suisse Group AG set a $74.00 price target on Magellan Midstream Partners L.P. and gave the company a “sell” rating in a report on Wednesday, August 3rd. Morgan Stanley set a $73.00 price target on Magellan Midstream Partners L.P. and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Wunderlich reiterated a “hold” rating and set a $71.00 price target on shares of Magellan Midstream Partners L.P. in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $77.97.

About Magellan Midstream Partners L.P.

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