Linscomb & Williams Inc. Has $852,000 Stock Holdings in Magellan Midstream Partners, L.P. (NYSE:MMP)

Linscomb & Williams Inc. boosted its stake in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,640 shares of the pipeline company’s stock after buying an additional 1,074 shares during the quarter. Linscomb & Williams Inc.’s holdings in Magellan Midstream Partners were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MMP. Alps Advisors Inc. boosted its position in Magellan Midstream Partners by 16.1% during the first quarter. Alps Advisors Inc. now owns 11,679,668 shares of the pipeline company’s stock valued at $506,430,000 after purchasing an additional 1,615,813 shares during the last quarter. Clearbridge Investments LLC boosted its position in Magellan Midstream Partners by 15.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,762,375 shares of the pipeline company’s stock valued at $117,235,000 after purchasing an additional 360,480 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Magellan Midstream Partners by 9.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,670,405 shares of the pipeline company’s stock valued at $155,772,000 after purchasing an additional 324,933 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Magellan Midstream Partners by 16.9% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,798,784 shares of the pipeline company’s stock valued at $76,341,000 after purchasing an additional 260,104 shares during the last quarter. Finally, ING Groep NV boosted its position in Magellan Midstream Partners by 79.9% during the fourth quarter. ING Groep NV now owns 555,825 shares of the pipeline company’s stock valued at $23,589,000 after purchasing an additional 246,825 shares during the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on MMP. TheStreet cut Magellan Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, March 12th. Wells Fargo & Company raised their price objective on Magellan Midstream Partners from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, May 13th. Royal Bank of Canada raised their price objective on Magellan Midstream Partners from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Magellan Midstream Partners in a research report on Thursday, March 18th. Finally, TD Securities cut Magellan Midstream Partners from a “buy” rating to a “hold” rating and raised their price objective for the company from $47.00 to $48.00 in a research report on Friday, April 30th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $48.59.

In other Magellan Midstream Partners news, SVP Lisa J. Korner sold 10,000 shares of the firm’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $47.62, for a total value of $476,200.00. Following the sale, the senior vice president now owns 82,953 shares of the company’s stock, valued at approximately $3,950,221.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Magellan Midstream Partners stock opened at $53.53 on Friday. The business’s fifty day moving average is $47.85. Magellan Midstream Partners, L.P. has a one year low of $32.61 and a one year high of $53.54. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.47 and a current ratio of 0.85. The company has a market cap of $11.95 billion, a price-to-earnings ratio of 16.03 and a beta of 1.11.

Magellan Midstream Partners (NYSE:MMP) last issued its earnings results on Thursday, April 29th. The pipeline company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.22. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $661.52 million. Magellan Midstream Partners had a return on equity of 34.70% and a net margin of 32.55%. The company’s revenue was down 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 EPS. On average, equities analysts expect that Magellan Midstream Partners, L.P. will post 3.87 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday, May 7th were issued a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date was Thursday, May 6th. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $1.03. Magellan Midstream Partners’s dividend payout ratio (DPR) is currently 107.03%.

Magellan Midstream Partners Company 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 and Crude Oil segments. It operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to refiners, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.

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

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