Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.1% during mid-day trading on Friday . The company traded as low as $73.77 and last traded at $74.14, with a volume of 594,241 shares traded. The stock had previously closed at $74.18.

A number of equities research analysts have issued reports on the stock. Vetr lowered shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating and set a $74.33 price target on the stock. in a report on Monday, May 2nd. Seaport Global Securities assumed coverage on shares of Magellan Midstream Partners L.P. in a report on Tuesday, June 14th. They issued a “buy” rating and a $82.00 price target on the stock. Stifel Nicolaus lowered shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Royal Bank Of Canada raised their price target on shares of Magellan Midstream Partners L.P. from $61.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. Finally, Credit Suisse Group AG reissued a “sell” rating and issued a $70.00 price target on shares of Magellan Midstream Partners L.P. in a report on Friday, May 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Magellan Midstream Partners L.P. has a consensus rating of “Hold” and an average target price of $77.03.

The company has a 50 day moving average of $73.39 and a 200-day moving average of $68.42. The firm has a market cap of $16.89 billion and a price-to-earnings ratio of 20.09.

Magellan Midstream Partners L.P. (NYSE:MMP) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $558.10 million. Magellan Midstream Partners L.P.’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. On average, equities research analysts expect that Magellan Midstream Partners L.P. will post $3.48 EPS for the current fiscal year.

In related news, SVP Jeff R. Selvidge sold 5,504 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $72.00, for a total transaction of $396,288.00. Following the sale, the senior vice president now owns 25,000 shares of the company’s stock, valued at $1,800,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Other large investors have added to or reduced their stakes in the company. Aviance Capital Partners LLC increased its stake in Magellan Midstream Partners L.P. by 16.0% in the fourth quarter. Aviance Capital Partners LLC now owns 16,659 shares of the company’s stock worth $1,131,000 after buying an additional 2,303 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its stake in Magellan Midstream Partners L.P. by 28.7% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 17,552 shares of the company’s stock worth $1,192,000 after buying an additional 3,917 shares during the last quarter. Jacobus Wealth Management Inc. increased its stake in Magellan Midstream Partners L.P. by 2.5% in the fourth quarter. Jacobus Wealth Management Inc. now owns 20,973 shares of the company’s stock worth $1,425,000 after buying an additional 510 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Magellan Midstream Partners L.P. by 2.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,913 shares of the company’s stock worth $1,760,000 after buying an additional 596 shares during the last quarter. Finally, Cowen Group Inc. increased its stake in Magellan Midstream Partners L.P. by 12.4% in the fourth quarter. Cowen Group Inc. now owns 29,587 shares of the company’s stock worth $2,010,000 after buying an additional 3,260 shares during the last quarter.

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