Hilton Capital Management LLC raised its position in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 10.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,806 shares of the company’s stock after buying an additional 21,715 shares during the period. Magellan Midstream Partners L.P. comprises approximately 4.0% of Hilton Capital Management LLC’s holdings, making the stock its 5th largest position. Hilton Capital Management LLC owned 0.10% of Magellan Midstream Partners L.P. worth $16,115,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake in shares of Magellan Midstream Partners L.P. by 97.9% in the second quarter. Janney Montgomery Scott LLC now owns 89,616 shares of the company’s stock worth $6,810,000 after buying an additional 44,336 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Magellan Midstream Partners L.P. by 38.3% in the second quarter. Blair William & Co. IL now owns 352,307 shares of the company’s stock worth $26,775,000 after buying an additional 97,583 shares in the last quarter. Raub Brock Capital Management LP raised its stake in shares of Magellan Midstream Partners L.P. by 8.3% in the second quarter. Raub Brock Capital Management LP now owns 159,099 shares of the company’s stock worth $12,092,000 after buying an additional 12,250 shares in the last quarter. Cottage Street Advisors LLC raised its stake in shares of Magellan Midstream Partners L.P. by 7.7% in the second quarter. Cottage Street Advisors LLC now owns 99,105 shares of the company’s stock worth $7,532,000 after buying an additional 7,050 shares in the last quarter. Finally, Lucas Capital Management raised its stake in shares of Magellan Midstream Partners L.P. by 15.5% in the second quarter. Lucas Capital Management now owns 52,433 shares of the company’s stock worth $3,985,000 after buying an additional 7,042 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

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

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) traded up 1.96% on Monday, reaching $68.78. The company’s stock had a trading volume of 820,274 shares. The stock has a market capitalization of $15.67 billion, a PE ratio of 19.71 and a beta of 0.76. Magellan Midstream Partners L.P. has a 1-year low of $54.51 and a 1-year high of $77.45. The stock has a 50-day moving average of $68.67 and a 200 day moving average of $70.97.

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company earned $586.67 million during the quarter, compared to the consensus estimate of $291.99 million. Magellan Midstream Partners L.P. had a net margin of 36.82% and a return on equity of 38.77%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. On average, equities analysts forecast that Magellan Midstream Partners L.P. will post $3.55 EPS for the current year.

The business also recently disclosed a dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a dividend of $0.8375 per share. This is an increase from Magellan Midstream Partners L.P.’s previous dividend of $0.70. The ex-dividend date was Thursday, October 27th. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is 95.99%.

MMP has been the topic of a number of analyst reports. Argus reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Tuesday, August 23rd. Zacks Investment Research raised Magellan Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, October 5th. Mizuho started coverage on shares of Magellan Midstream Partners L.P. in a research report on Thursday, September 29th. They set a “neutral” rating and a $73.00 price target for the company. Wunderlich reiterated a “hold” rating and set a $71.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Friday, August 5th. Finally, Morgan Stanley set a $73.00 price target on shares of Magellan Midstream Partners L.P. and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Magellan Midstream Partners L.P. presently has a consensus rating of “Hold” and a consensus price target of $76.23.

About Magellan Midstream Partners L.P.

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