Camelot Portfolios LLC increased its stake in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,659 shares of the pipeline company’s stock after buying an additional 28 shares during the period. Camelot Portfolios LLC’s holdings in Magellan Midstream Partners L.P. were worth $617,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Founders Capital Management bought a new position in shares of Magellan Midstream Partners L.P. during the first quarter valued at about $109,000. Catalyst Capital Advisors LLC boosted its position in shares of Magellan Midstream Partners L.P. by 23.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock valued at $121,000 after buying an additional 300 shares during the period. NEXT Financial Group Inc boosted its position in shares of Magellan Midstream Partners L.P. by 7.5% in the second quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock valued at $129,000 after buying an additional 126 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Magellan Midstream Partners L.P. by 4.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,968 shares of the pipeline company’s stock valued at $140,000 after buying an additional 87 shares during the period. Finally, AlphaMark Advisors LLC boosted its position in shares of Magellan Midstream Partners L.P. by 444.9% in the first quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock valued at $148,000 after buying an additional 1,575 shares during the period. Hedge funds and other institutional investors own 62.86% of the company’s stock.

Magellan Midstream Partners L.P. (MMP) opened at 69.14 on Monday. The stock has a market cap of $15.77 billion, a price-to-earnings ratio of 18.75 and a beta of 0.80. Magellan Midstream Partners L.P. has a 52 week low of $64.25 and a 52 week high of $81.77. The firm’s 50 day moving average price is $70.09 and its 200-day moving average price is $74.72.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Magellan Midstream Partners L.P. had a net margin of 34.63% and a return on equity of 41.81%. The firm had revenue of $619.40 million during the quarter, compared to analyst estimates of $561.70 million. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 19.4% on a year-over-year basis. Analysts expect that Magellan Midstream Partners L.P. will post $3.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.89 dividend. This is a positive change from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $3.56 dividend on an annualized basis and a yield of 5.15%. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is currently 96.74%.

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MMP has been the topic of several recent research reports. UBS AG upgraded Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, July 18th. Barclays PLC cut Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $77.00 in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “hold” rating and set a $81.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $80.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Thursday, April 13th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Magellan Midstream Partners L.P. has a consensus rating of “Hold” and a consensus target price of $79.10.

In related news, insider Douglas J. May sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $75.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now owns 27,599 shares of the company’s stock, valued at approximately $2,069,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Magellan Midstream Partners L.P. Company Profile

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

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