Segment Wealth Management LLC lowered its stake in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,679 shares of the pipeline company’s stock after selling 976 shares during the period. Segment Wealth Management LLC’s holdings in Magellan Midstream Partners were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Alps Advisors Inc. lifted its holdings in Magellan Midstream Partners by 5.2% during the third quarter. Alps Advisors Inc. now owns 15,065,633 shares of the pipeline company’s stock worth $1,070,564,000 after buying an additional 745,755 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Magellan Midstream Partners by 5.3% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,238,881 shares of the pipeline company’s stock valued at $1,011,815,000 after purchasing an additional 717,317 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Magellan Midstream Partners by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,316,528 shares of the pipeline company’s stock valued at $304,574,000 after purchasing an additional 495,394 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Magellan Midstream Partners by 5.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,163,725 shares of the pipeline company’s stock valued at $224,798,000 after purchasing an additional 170,488 shares during the last quarter. Finally, Atlantic Trust Group LLC lifted its holdings in shares of Magellan Midstream Partners by 43.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 3,149,302 shares of the pipeline company’s stock valued at $223,789,000 after purchasing an additional 953,808 shares during the last quarter. Institutional investors own 62.12% of the company’s stock.

Magellan Midstream Partners, L.P. (NYSE:MMP) opened at $74.41 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.50 and a quick ratio of 0.29. Magellan Midstream Partners, L.P. has a 12-month low of $63.55 and a 12-month high of $81.77. The stock has a market capitalization of $16,970.00, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.37 and a beta of 0.77.

Magellan Midstream Partners (NYSE:MMP) last released its earnings results on Thursday, November 2nd. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. Magellan Midstream Partners had a return on equity of 40.99% and a net margin of 34.50%. The firm had revenue of $551.80 million for the quarter, compared to the consensus estimate of $610.12 million. During the same period in the prior year, the firm earned $0.91 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. research analysts predict that Magellan Midstream Partners, L.P. will post 3.87 earnings per share for the current year.

Several analysts have recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and set a $81.00 price objective on shares of Magellan Midstream Partners in a report on Tuesday, January 16th. Bank of America assumed coverage on Magellan Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating for the company. Credit Suisse Group assumed coverage on Magellan Midstream Partners in a report on Thursday, January 4th. They set an “underperform” rating for the company. BMO Capital Markets assumed coverage on Magellan Midstream Partners in a report on Monday, December 11th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Mizuho reiterated a “sell” rating and set a $72.00 price objective on shares of Magellan Midstream Partners in a report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Magellan Midstream Partners has an average rating of “Hold” and an average price target of $78.51.

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About Magellan Midstream Partners

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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

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