Green Square Capital LLC decreased its stake in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,173 shares of the pipeline company’s stock after selling 14,739 shares during the quarter. Magellan Midstream Partners L.P. comprises 2.7% of Green Square Capital LLC’s holdings, making the stock its 2nd biggest position. Green Square Capital LLC owned approximately 0.09% of Magellan Midstream Partners L.P. worth $15,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc increased its stake 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 valued at $129,000 after purchasing an additional 126 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in Magellan Midstream Partners L.P. by 4.6% during the 2nd 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. Pathstone Family Office LLC acquired a new position in Magellan Midstream Partners L.P. during the 2nd quarter valued at approximately $148,000. SRS Capital Advisors Inc. increased its stake in Magellan Midstream Partners L.P. by 16.0% during the 1st 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. Finally, Acrospire Investment Management LLC increased its stake in Magellan Midstream Partners L.P. by 340.0% during the 2nd 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. Institutional investors and hedge funds own 60.72% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.83% during mid-day trading on Friday, reaching $70.39. 167,895 shares of the company were exchanged. The stock has a market capitalization of $16.05 billion, a P/E ratio of 19.09 and a beta of 0.79. The stock has a 50 day moving average price of $68.82 and a 200-day moving average price of $71.62. 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 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. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The business had revenue of $619.40 million for the quarter, compared to analysts’ expectations of $561.70 million. During the same period in the previous year, the company posted $0.82 EPS. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Analysts predict that Magellan Midstream Partners L.P. will post $3.89 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $81.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Wednesday, July 19th. Barclays PLC lowered shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $77.00 in a research note on Tuesday, July 18th. UBS AG upgraded shares of 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 note on Tuesday, July 18th. Royal Bank Of Canada restated 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. Finally, BidaskClub lowered shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.04.

In related news, insider Jeff R. Selvidge sold 5,000 shares of Magellan Midstream Partners L.P. stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $70.64, for a total value of $353,200.00. Following the transaction, the insider now directly owns 19,653 shares in the company, valued at approximately $1,388,287.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

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Magellan Midstream Partners L.P. Profile

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

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