Magellan Midstream Partners, L.P. (MMP) Holdings Lifted by Sei Investments Co.

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Sei Investments Co. grew its holdings in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 212.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,665 shares of the pipeline company’s stock after purchasing an additional 103,070 shares during the quarter. Sei Investments Co. owned approximately 0.07% of Magellan Midstream Partners worth $10,477,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global X Management Co. LLC increased its stake in Magellan Midstream Partners by 7.8% during the 1st quarter. Global X Management Co. LLC now owns 1,135,046 shares of the pipeline company’s stock valued at $66,230,000 after purchasing an additional 82,076 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Magellan Midstream Partners by 291.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 335,362 shares of the pipeline company’s stock valued at $19,568,000 after purchasing an additional 249,682 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Magellan Midstream Partners by 4.0% during the 1st quarter. Wasatch Advisors Inc. now owns 25,771 shares of the pipeline company’s stock valued at $1,504,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN increased its stake in Magellan Midstream Partners by 15.9% during the 1st quarter. Wells Fargo & Company MN now owns 845,071 shares of the pipeline company’s stock valued at $49,310,000 after purchasing an additional 116,075 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ increased its stake in Magellan Midstream Partners by 55.0% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 10,913 shares of the pipeline company’s stock valued at $636,000 after purchasing an additional 3,873 shares in the last quarter. 62.89% of the stock is currently owned by institutional investors.

MMP opened at $71.05 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.31 and a debt-to-equity ratio of 2.04. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.86 and a beta of 0.80. Magellan Midstream Partners, L.P. has a 1 year low of $54.82 and a 1 year high of $75.82.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. The firm had revenue of $644.10 million for the quarter, compared to the consensus estimate of $662.37 million. Magellan Midstream Partners had a net margin of 33.54% and a return on equity of 42.90%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. analysts expect that Magellan Midstream Partners, L.P. will post 4.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, August 7th were issued a dividend of $0.957 per share. This represents a $3.83 dividend on an annualized basis and a yield of 5.39%. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, August 6th. Magellan Midstream Partners’s payout ratio is currently 100.52%.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Barclays boosted their price target on shares of Magellan Midstream Partners from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Monday, August 6th. ValuEngine upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Stifel Nicolaus boosted their price target on shares of Magellan Midstream Partners from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Magellan Midstream Partners in a research note on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Magellan Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $74.92.

About Magellan Midstream Partners

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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

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