Usca Ria LLC reduced its position in Magellan Midstream Partners L.P. (NYSE:MMP) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the pipeline company’s stock after selling 48 shares during the period. Usca Ria LLC’s holdings in Magellan Midstream Partners L.P. were worth $1,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MMP. Founders Capital Management acquired a new position in Magellan Midstream Partners L.P. during the first quarter worth about $109,000. Catalyst Capital Advisors LLC boosted its stake in Magellan Midstream Partners L.P. by 23.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock worth $121,000 after buying an additional 300 shares during the period. NEXT Financial Group Inc boosted its stake in Magellan Midstream Partners L.P. by 7.5% in the second quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock worth $129,000 after buying an additional 126 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Magellan Midstream Partners L.P. by 4.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock worth $140,000 after buying an additional 87 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in Magellan Midstream Partners L.P. by 444.9% in the first quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock worth $148,000 after buying an additional 1,575 shares during the period. Institutional investors own 62.46% of the company’s stock.

Magellan Midstream Partners L.P. (NYSE:MMP) opened at 66.69 on Friday. Magellan Midstream Partners L.P. has a 1-year low of $63.92 and a 1-year high of $81.77. The firm has a market cap of $15.21 billion, a PE ratio of 18.08 and a beta of 0.80. The firm’s 50-day moving average is $68.62 and its 200 day moving average is $73.37.

Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $619.40 million for the quarter, compared to analyst estimates of $561.70 million. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. Magellan Midstream Partners L.P.’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. On average, equities analysts forecast that Magellan Midstream Partners L.P. will post $3.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.89 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This is a positive change from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. This represents a $3.56 annualized dividend and a yield of 5.34%. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is 96.74%.

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A number of research firms recently weighed in on MMP. BidaskClub cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Mizuho cut shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $74.00 to $72.00 in a report on Monday, July 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Wednesday, July 19th. Finally, Jefferies Group LLC began coverage on shares of Magellan Midstream Partners L.P. in a report on Thursday, June 22nd. They issued a “hold” rating and a $73.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $79.40.

Magellan Midstream Partners L.P. Company Profile

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

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