4,946 Shares in Magellan Midstream Partners, L.P. (NYSE:MMP) Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new position in shares of Magellan Midstream Partners, L.P. (NYSE:MMPGet Rating) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 4,946 shares of the pipeline company’s stock, valued at approximately $243,000.

Several other large investors have also recently modified their holdings of MMP. Private Advisor Group LLC raised its stake in shares of Magellan Midstream Partners by 9.0% during the 4th quarter. Private Advisor Group LLC now owns 30,040 shares of the pipeline company’s stock worth $1,395,000 after acquiring an additional 2,480 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Magellan Midstream Partners by 8.8% during the 4th quarter. Bank of Montreal Can now owns 1,102,316 shares of the pipeline company’s stock worth $49,746,000 after acquiring an additional 89,490 shares in the last quarter. True North Advisors LLC bought a new position in shares of Magellan Midstream Partners during the 4th quarter worth approximately $494,000. Mutual Advisors LLC raised its stake in shares of Magellan Midstream Partners by 8.0% during the 4th quarter. Mutual Advisors LLC now owns 8,460 shares of the pipeline company’s stock worth $393,000 after acquiring an additional 624 shares in the last quarter. Finally, Capricorn Fund Managers Ltd bought a new position in shares of Magellan Midstream Partners during the 4th quarter worth approximately $1,024,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MMP. The Goldman Sachs Group upgraded shares of Magellan Midstream Partners from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $59.00 in a research note on Wednesday, June 8th. Wells Fargo & Company upgraded shares of Magellan Midstream Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $54.00 to $56.00 in a research note on Tuesday, May 31st. JPMorgan Chase & Co. upgraded shares of Magellan Midstream Partners from a “neutral” rating to an “overweight” rating and upped their price target for the company from $52.00 to $57.00 in a research note on Wednesday, May 25th. Finally, Royal Bank of Canada upped their price target on shares of Magellan Midstream Partners from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Magellan Midstream Partners currently has an average rating of “Hold” and a consensus price target of $53.50.

Magellan Midstream Partners Stock Down 1.6 %

MMP stock opened at $50.73 on Monday. The firm’s fifty day simple moving average is $50.88 and its 200-day simple moving average is $49.96. Magellan Midstream Partners, L.P. has a 12 month low of $43.58 and a 12 month high of $53.75. The company has a market capitalization of $10.54 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 3.35 and a beta of 0.92. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.97 and a quick ratio of 0.49.

Magellan Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were issued a dividend of $1.0375 per share. This represents a $4.15 dividend on an annualized basis and a yield of 8.18%. The ex-dividend date of this dividend was Thursday, August 4th. Magellan Midstream Partners’s dividend payout ratio (DPR) is presently 88.87%.

Magellan Midstream Partners Company Profile

(Get Rating)

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates through Refined Products and Crude Oil segments. The company operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports.

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

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