Partners Group Holding AG trimmed its holdings in Magellan Midstream Partners L.P. (NYSE:MMP) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,100 shares of the pipeline company’s stock after selling 4,000 shares during the quarter. Magellan Midstream Partners L.P. comprises 0.3% of Partners Group Holding AG’s portfolio, making the stock its 28th largest holding. Partners Group Holding AG’s holdings in Magellan Midstream Partners L.P. were worth $2,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NEXT Financial Group Inc boosted its position in Magellan Midstream Partners L.P. by 7.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 126 shares during the period. Independent Portfolio Consultants Inc. raised its stake in shares of Magellan Midstream Partners L.P. by 4.6% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock valued at $140,000 after purchasing an additional 87 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Magellan Midstream Partners L.P. by 16.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,009 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 277 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Magellan Midstream Partners L.P. during the second quarter valued at about $148,000. Finally, Acrospire Investment Management LLC raised its stake in shares of Magellan Midstream Partners L.P. by 340.0% during the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the pipeline company’s stock valued at $157,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 60.72% of the company’s stock.

A number of research firms have commented on MMP. Stifel Nicolaus restated a “hold” rating and set a $81.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Wednesday, July 19th. Barclays PLC lowered shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $77.00 in a research note 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 target price on the stock in a report on Tuesday, July 18th. BidaskClub downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $80.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.37.

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In related news, insider Jeff R. Selvidge sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $70.64, for a total transaction of $353,200.00. Following the completion of the transaction, the insider now owns 19,653 shares in the company, valued at $1,388,287.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Magellan Midstream Partners L.P. (MMP) traded up 0.30% on Tuesday, hitting $71.15. 175,107 shares of the stock traded hands. The stock has a market capitalization of $16.22 billion, a P/E ratio of 19.29 and a beta of 0.79. The company’s 50 day moving average price is $68.40 and its 200-day moving average price is $71.68. Magellan Midstream Partners L.P. has a 12-month low of $63.92 and a 12-month high of $81.77.

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $619.40 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Analysts predict that Magellan Midstream Partners L.P. will post $3.89 EPS for the current year.

Magellan Midstream Partners L.P. Company Profile

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

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