Fiera Capital Corp held its position in shares of Magellan Midstream Partners L.P. (NYSE:MMP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,377 shares of the pipeline company’s stock at the end of the second quarter. Fiera Capital Corp’s holdings in Magellan Midstream Partners L.P. were worth $4,374,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MMP. OppenheimerFunds Inc. grew its position in shares of Magellan Midstream Partners L.P. by 21.9% in the first quarter. OppenheimerFunds Inc. now owns 13,042,073 shares of the pipeline company’s stock valued at $1,003,066,000 after purchasing an additional 2,345,950 shares during the last quarter. Beach Investment Management LLC. grew its position in shares of Magellan Midstream Partners L.P. by 1,479.2% in the second quarter. Beach Investment Management LLC. now owns 762,331 shares of the pipeline company’s stock valued at $54,331,000 after purchasing an additional 714,059 shares during the last quarter. Bank of Montreal Can grew its position in shares of Magellan Midstream Partners L.P. by 34.7% in the second quarter. Bank of Montreal Can now owns 1,985,471 shares of the pipeline company’s stock valued at $141,505,000 after purchasing an additional 511,367 shares during the last quarter. UBS Group AG grew its position in shares of Magellan Midstream Partners L.P. by 8.3% in the first quarter. UBS Group AG now owns 5,907,324 shares of the pipeline company’s stock valued at $454,332,000 after purchasing an additional 453,671 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Magellan Midstream Partners L.P. by 8.0% in the first quarter. JPMorgan Chase & Co. now owns 3,763,537 shares of the pipeline company’s stock valued at $289,454,000 after purchasing an additional 277,575 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Magellan Midstream Partners L.P. (MMP) opened at 71.13 on Monday. Magellan Midstream Partners L.P. has a 52 week low of $63.92 and a 52 week high of $81.77. The company has a market cap of $16.22 billion, a PE ratio of 19.29 and a beta of 0.80. The firm’s 50-day moving average is $67.85 and its 200-day moving average is $72.30.

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.03. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The firm had revenue of $619.40 million for the quarter, compared to analyst estimates of $561.70 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. On average, analysts expect that Magellan Midstream Partners L.P. will post $3.90 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $81.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Wednesday, July 19th. Barclays PLC downgraded Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $77.00 in a research report on Tuesday, July 18th. UBS AG raised Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $80.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Monday, July 24th. Finally, BidaskClub downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $79.19.

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About Magellan Midstream Partners L.P.

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

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