Artemis Investment Management LLP Buys Shares of 11,036 Magellan Midstream Partners L.P. (MMP)

Artemis Investment Management LLP bought a new stake in Magellan Midstream Partners L.P. (NYSE:MMP) during the fourth quarter, Holdings Channel reports. The fund bought 11,036 shares of the company’s stock, valued at approximately $834,000.

Several other large investors also recently bought and sold shares of MMP. Janney Montgomery Scott LLC boosted its stake in Magellan Midstream Partners L.P. by 97.9% in the second quarter. Janney Montgomery Scott LLC now owns 89,616 shares of the company’s stock valued at $6,810,000 after buying an additional 44,336 shares in the last quarter. Payden & Rygel boosted its stake in Magellan Midstream Partners L.P. by 76.7% in the third quarter. Payden & Rygel now owns 231,800 shares of the company’s stock valued at $16,398,000 after buying an additional 100,600 shares in the last quarter. Blair William & Co. IL boosted its stake in Magellan Midstream Partners L.P. by 38.3% in the second quarter. Blair William & Co. IL now owns 352,307 shares of the company’s stock valued at $26,775,000 after buying an additional 97,583 shares in the last quarter. Center Coast Capital Advisors LP boosted its stake in Magellan Midstream Partners L.P. by 11.7% in the third quarter. Center Coast Capital Advisors LP now owns 2,248,877 shares of the company’s stock valued at $159,086,000 after buying an additional 234,941 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in Magellan Midstream Partners L.P. by 2.2% in the third quarter. Bollard Group LLC now owns 377,469 shares of the company’s stock valued at $26,702,000 after buying an additional 8,076 shares in the last quarter. 63.42% of the stock is owned by hedge funds and other institutional investors.

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

Magellan Midstream Partners L.P. (NYSE:MMP) opened at 80.08 on Tuesday. Magellan Midstream Partners L.P. has a 12-month low of $60.36 and a 12-month high of $81.70. The company has a 50 day moving average of $77.07 and a 200-day moving average of $71.62. The stock has a market cap of $18.24 billion, a P/E ratio of 22.75 and a beta of 0.82.

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. The company had revenue of $614.92 million for the quarter, compared to analyst estimates of $610.41 million. Magellan Midstream Partners L.P. had a return on equity of 40.66% and a net margin of 36.40%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities analysts forecast that Magellan Midstream Partners L.P. will post $3.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Friday, February 3rd will be issued a $0.855 dividend. The ex-dividend date is Wednesday, February 1st. This represents a $3.42 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is presently 97.44%.

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MMP has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $85.00 in a research report on Thursday, December 15th. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Mizuho lifted their price target on shares of Magellan Midstream Partners L.P. from $73.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. RBC Capital Markets reissued a “buy” rating and set a $84.00 price target on shares of Magellan Midstream Partners L.P. in a research report on Friday, January 6th. Finally, Vetr raised shares of Magellan Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $78.61 price target for the company in a research report on Tuesday, January 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $78.48.

In other news, insider Lisa J. Korner sold 10,000 shares of Magellan Midstream Partners L.P. stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $78.67, for a total transaction of $786,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael N. Mears sold 50,000 shares of Magellan Midstream Partners L.P. stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $78.74, for a total value of $3,937,000.00. Following the transaction, the chief executive officer now owns 184,440 shares in the company, valued at approximately $14,522,805.60. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Magellan Midstream Partners L.P. Company Profile

5 Day Chart for NYSE:MMP

Want to see what other hedge funds are holding MMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magellan Midstream Partners L.P. (NYSE:MMP).

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