Main Street Research LLC Has $224,000 Position in Magellan Midstream Partners L.P. (MMP)

Main Street Research LLC held its stake in Magellan Midstream Partners L.P. (NYSE:MMP) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,960 shares of the company’s stock at the end of the fourth quarter. Main Street Research LLC’s holdings in Magellan Midstream Partners L.P. were worth $224,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of Magellan Midstream Partners L.P. by 7.9% in the third quarter. Alps Advisors Inc. now owns 12,735,658 shares of the company’s stock valued at $900,920,000 after buying an additional 929,828 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of Magellan Midstream Partners L.P. by 2.4% in the second quarter. Kayne Anderson Capital Advisors LP now owns 4,803,815 shares of the company’s stock valued at $365,080,000 after buying an additional 112,200 shares during the period. Chickasaw Capital Management LLC boosted its stake in shares of Magellan Midstream Partners L.P. by 16.2% in the second quarter. Chickasaw Capital Management LLC now owns 3,371,119 shares of the company’s stock valued at $256,205,000 after buying an additional 469,807 shares during the period. Morgan Stanley boosted its stake in shares of Magellan Midstream Partners L.P. by 1.4% in the third quarter. Morgan Stanley now owns 3,220,731 shares of the company’s stock valued at $227,834,000 after buying an additional 44,977 shares during the period. Finally, Advisory Research Inc. boosted its stake in shares of Magellan Midstream Partners L.P. by 80.8% in the second quarter. Advisory Research Inc. now owns 2,286,289 shares of the company’s stock valued at $173,758,000 after buying an additional 1,022,060 shares during the period. 63.42% of the stock is owned by institutional investors and hedge funds.

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

Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.11% during trading on Tuesday, hitting $79.99. The stock had a trading volume of 44,544 shares. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of 22.72 and a beta of 0.82. Magellan Midstream Partners L.P. has a 12-month low of $60.36 and a 12-month high of $81.70. The stock has a 50 day moving average price of $77.07 and a 200 day moving average price of $71.62.

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

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

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Several analysts have recently commented on MMP shares. Zacks Investment Research cut Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Goldman Sachs Group, Inc. (The) upgraded Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $85.00 in a report on Thursday, December 15th. Ladenburg Thalmann Financial Services began coverage on Magellan Midstream Partners L.P. in a report on Monday, December 19th. They set a “buy” rating and a $80.00 price objective for the company. Deutsche Bank AG began coverage on Magellan Midstream Partners L.P. in a report on Tuesday, January 3rd. They set a “buy” rating and a $86.00 price objective for the company. Finally, RBC Capital Markets reiterated a “buy” rating and set a $84.00 price objective on shares of Magellan Midstream Partners L.P. in a report on Friday, January 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $78.48.

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

About Magellan Midstream Partners L.P.

5 Day Chart for NYSE:MMP

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