Radnor Capital Management LLC Buys Shares of 4,940 Magellan Midstream Partners L.P. (MMP)

Radnor Capital Management LLC bought a new position in Magellan Midstream Partners L.P. (NYSE:MMP) during the fourth quarter, Holdings Channel reports. The fund bought 4,940 shares of the company’s stock, valued at approximately $374,000.

A number of other large investors have also recently added to or reduced their stakes in MMP. Enterprise Financial Services Corp boosted its stake in Magellan Midstream Partners L.P. by 10.1% in the third quarter. Enterprise Financial Services Corp now owns 1,450 shares of the company’s stock worth $103,000 after buying an additional 133 shares during the last quarter. Bellwether Investment Group LLC purchased a new stake in Magellan Midstream Partners L.P. during the second quarter worth approximately $109,000. Independent Portfolio Consultants Inc. boosted its stake in Magellan Midstream Partners L.P. by 59.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 2,236 shares of the company’s stock worth $158,000 after buying an additional 830 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in Magellan Midstream Partners L.P. by 24.4% in the third quarter. Carroll Financial Associates Inc. now owns 2,480 shares of the company’s stock worth $175,000 after buying an additional 486 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Magellan Midstream Partners L.P. during the second quarter worth approximately $204,000. Institutional investors own 63.42% of the company’s stock.

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

Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.11% during mid-day trading on Tuesday, hitting $79.99. The stock had a trading volume of 44,544 shares. Magellan Midstream Partners L.P. has a one year low of $60.36 and a one year high of $81.70. The firm’s 50-day moving average price is $77.07 and its 200 day moving average price is $71.62. The company has a market cap of $18.22 billion, a PE ratio of 22.72 and a beta of 0.82.

Magellan Midstream Partners L.P. (NYSE:MMP) last released its earnings results on Thursday, February 2nd. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The firm earned $614.92 million during 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 business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. On average, equities research analysts anticipate that Magellan Midstream Partners L.P. will post $3.82 EPS for the current year.

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

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MMP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Magellan Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Tuesday, January 24th. Raymond James Financial, Inc. cut shares of Magellan Midstream Partners L.P. to a “buy” rating and set a $73.00 price objective on the stock. in a research report on Sunday, January 15th. Vetr upgraded shares of Magellan Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $78.61 price objective on the stock in a research report on Tuesday, January 10th. RBC Capital Markets reiterated a “buy” rating and set a $84.00 price objective on shares of Magellan Midstream Partners L.P. in a research report on Friday, January 6th. Finally, Deutsche Bank AG initiated coverage on shares of Magellan Midstream Partners L.P. in a research report on Tuesday, January 3rd. They set a “buy” rating and a $86.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $78.48.

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

About Magellan Midstream Partners L.P.

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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