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

Several research analysts have recently weighed in on MMP shares. Vetr raised shares of Magellan Midstream Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $75.72 price objective for the company in a report on Tuesday, March 15th. Credit Suisse Group AG cut shares of Magellan Midstream Partners L.P. from a “neutral” rating to an “underperform” rating and set a $70.00 price objective for the company. in a report on Thursday, March 17th. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Finally, Wunderlich cut shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a report on Monday, April 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.03.

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

Magellan Midstream Partners L.P. (NYSE:MMP) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.03. During the same period in the previous year, the business earned $0.83 earnings per share. The company earned $530.30 million during the quarter, compared to analysts’ expectations of $558.10 million. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, 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 stock in a transaction that occurred on Friday, May 6th. The shares were 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 directly owns 25,000 shares of the company’s stock, valued at approximately $1,800,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Other institutional investors recently made changes to their positions in the company. Aviance Capital Partners LLC raised its position in shares of 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 valued at $1,131,000 after buying an additional 2,303 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its position in shares of 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 valued at $1,192,000 after buying an additional 3,917 shares during the last quarter. Jacobus Wealth Management Inc. raised its position in shares of 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 valued at $1,425,000 after buying an additional 510 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of 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 valued at $1,760,000 after buying an additional 596 shares during the last quarter. Finally, Cowen Group Inc. raised its position in shares of 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 valued at $2,010,000 after buying an additional 3,260 shares during the last quarter.

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