Regal Investment Advisors LLC trimmed its position in Magellan Midstream Partners, L.P. (NYSE:MMP) by 8.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,766 shares of the pipeline company’s stock after selling 361 shares during the period. Regal Investment Advisors LLC’s holdings in Magellan Midstream Partners were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC grew its holdings in Magellan Midstream Partners by 1.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,366 shares of the pipeline company’s stock valued at $706,000 after buying an additional 160 shares in the last quarter. Naples Global Advisors LLC grew its holdings in shares of Magellan Midstream Partners by 4.3% during the 4th quarter. Naples Global Advisors LLC now owns 4,770 shares of the pipeline company’s stock worth $298,000 after purchasing an additional 195 shares in the last quarter. Ibex Wealth Advisors grew its holdings in shares of Magellan Midstream Partners by 0.6% during the 4th quarter. Ibex Wealth Advisors now owns 35,966 shares of the pipeline company’s stock worth $2,052,000 after purchasing an additional 228 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Magellan Midstream Partners by 6.6% during the 3rd quarter. Belpointe Asset Management LLC now owns 4,182 shares of the pipeline company’s stock worth $283,000 after purchasing an additional 260 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Magellan Midstream Partners by 56.3% during the 4th quarter. Manchester Capital Management LLC now owns 938 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 338 shares in the last quarter. 65.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MMP stock opened at $57.53 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.46. Magellan Midstream Partners, L.P. has a twelve month low of $54.25 and a twelve month high of $72.90. The firm has a market cap of $13.13 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 2.33 and a beta of 0.85.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings data on Thursday, January 31st. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.13). Magellan Midstream Partners had a return on equity of 42.53% and a net margin of 47.19%. The business had revenue of $865.68 million for the quarter, compared to the consensus estimate of $710.21 million. On average, research analysts expect that Magellan Midstream Partners, L.P. will post 4.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, February 7th will be given a dividend of $0.9775 per share. The ex-dividend date is Wednesday, February 6th. This represents a $3.91 annualized dividend and a dividend yield of 6.80%. Magellan Midstream Partners’s dividend payout ratio is currently 93.88%.

MMP has been the topic of several analyst reports. Zacks Investment Research lowered Magellan Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, November 16th. SunTrust Banks initiated coverage on Magellan Midstream Partners in a report on Friday, January 18th. They set a “hold” rating and a $65.00 target price on the stock. ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Citigroup reduced their target price on Magellan Midstream Partners from $82.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Wolfe Research initiated coverage on Magellan Midstream Partners in a report on Tuesday, October 30th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $72.11.

In related news, insider Lisa J. Korner sold 10,000 shares of the company’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $58.14, for a total transaction of $581,400.00. Following the completion of the sale, the insider now directly owns 73,257 shares in the company, valued at approximately $4,259,161.98. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

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Magellan Midstream Partners Profile

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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

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