Investors purchased shares of Magellan Midstream Partners L.P. (NYSE:MMP) on weakness during trading on Friday. $19.69 million flowed into the stock on the tick-up and $8.57 million flowed out of the stock on the tick-down, for a money net flow of $11.12 million into the stock. Of all companies tracked, Magellan Midstream Partners L.P. had the 5th highest net in-flow for the day. Magellan Midstream Partners L.P. traded down ($0.04) for the day and closed at $74.14

Several research analysts recently weighed in on MMP shares. Credit Suisse Group AG downgraded shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and set a $70.00 target price for the company. in a research note on Thursday, March 17th. Wells Fargo & Co. reissued a “buy” rating on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, May 10th. Zacks Investment Research raised shares of Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. JPMorgan Chase & Co. cut their target price on shares of Magellan Midstream Partners L.P. from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, May 16th. Finally, Seaport Global Securities started coverage on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, June 14th. They issued a “buy” rating and a $82.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $77.03.

The firm has a 50-day moving average price of $73.39 and a 200-day moving average price of $68.42. The company has a market capitalization of $16.89 billion and a PE 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 for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The company earned $530.30 million during the quarter, compared to analyst estimates of $558.10 million. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Magellan Midstream Partners L.P. will post $3.48 earnings per share for the current year.

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

Several institutional investors recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in Magellan Midstream Partners L.P. by 123.4% in the fourth quarter. First Trust Advisors LP now owns 80,905 shares of the company’s stock worth $5,495,000 after buying an additional 44,692 shares during the period. Sfmg LLC raised its stake in shares of Magellan Midstream Partners L.P. by 0.9% in the fourth quarter. Sfmg LLC now owns 31,128 shares of the company’s stock worth $2,114,000 after buying an additional 290 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Magellan Midstream Partners L.P. by 4.2% in the fourth quarter. Advisors Asset Management Inc. now owns 86,266 shares of the company’s stock worth $5,859,000 after buying an additional 3,485 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Magellan Midstream Partners L.P. by 120.8% in the fourth quarter. Bank of Montreal Can now owns 97,242 shares of the company’s stock worth $6,604,000 after buying an additional 53,204 shares during the last quarter. Finally, Russell Frank Co raised its stake in shares of Magellan Midstream Partners L.P. by 52.3% in the fourth quarter. Russell Frank Co now owns 270,228 shares of the company’s stock worth $17,939,000 after buying an additional 92,850 shares during the last quarter.

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