Nelson Van Denburg & Campbell Wealth Management Group LLC lessened its holdings in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,801 shares of the pipeline company’s stock after selling 50 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Magellan Midstream Partners L.P. were worth $200,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Magellan Midstream Partners L.P. by 0.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 13,521,564 shares of the pipeline company’s stock worth $963,682,000 after purchasing an additional 62,371 shares during the period. UBS Group AG lifted its holdings in shares of Magellan Midstream Partners L.P. by 8.3% during the first quarter. UBS Group AG now owns 5,907,324 shares of the pipeline company’s stock worth $454,332,000 after purchasing an additional 453,671 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Magellan Midstream Partners L.P. by 1.5% during the second quarter. JPMorgan Chase & Co. now owns 3,821,134 shares of the pipeline company’s stock worth $272,333,000 after purchasing an additional 57,597 shares during the period. Bank of Montreal Can lifted its holdings in shares of Magellan Midstream Partners L.P. by 34.7% during the second quarter. Bank of Montreal Can now owns 1,985,471 shares of the pipeline company’s stock worth $141,505,000 after purchasing an additional 511,367 shares during the period. Finally, Creative Planning lifted its holdings in shares of Magellan Midstream Partners L.P. by 5.3% during the second quarter. Creative Planning now owns 1,705,751 shares of the pipeline company’s stock worth $121,569,000 after purchasing an additional 85,731 shares during the period. Institutional investors own 60.87% of the company’s stock.

Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.33% during trading on Wednesday, reaching $70.29. 171,899 shares of the company traded hands. The firm’s 50 day moving average price is $69.34 and its 200 day moving average price is $71.40. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 20.98 and a beta of 0.79. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 34.63% and a return on equity of 41.81%. The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Equities research analysts expect that Magellan Midstream Partners L.P. will post $3.89 earnings per share for the current year.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $81.00 price target on shares of Magellan Midstream Partners L.P. in a 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 cut their price target for the stock from $88.00 to $77.00 in a report 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 report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “hold” rating and set a $80.00 price target on shares of Magellan Midstream Partners L.P. in a report on Monday, July 24th. Finally, BidaskClub lowered shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $79.04.

In other Magellan Midstream Partners L.P. news, insider Jeff R. Selvidge sold 5,000 shares of the firm’s 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 sale, the insider now owns 19,653 shares of the company’s stock, valued at approximately $1,388,287.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

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About Magellan Midstream Partners L.P.

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

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