Murphy Middleton Hinkle & Parker Inc. Makes New $200,000 Investment in Magellan Midstream Partners, L.P. (NYSE:MMP)

Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,215 shares of the pipeline company’s stock, valued at approximately $200,000.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in Magellan Midstream Partners during the first quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new stake in Magellan Midstream Partners in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in Magellan Midstream Partners by 53.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 691 shares of the pipeline company’s stock worth $35,000 after acquiring an additional 241 shares in the last quarter. State of Wyoming bought a new position in shares of Magellan Midstream Partners during the fourth quarter valued at $35,000. Finally, Prostatis Group LLC boosted its stake in shares of Magellan Midstream Partners by 96.0% in the 4th quarter. Prostatis Group LLC now owns 37,256 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 18,252 shares in the last quarter. 54.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. US Capital Advisors downgraded Magellan Midstream Partners from an “overweight” rating to a “hold” rating in a report on Friday, May 19th. Barclays raised their target price on Magellan Midstream Partners from $60.00 to $68.00 in a research note on Tuesday, July 18th. Royal Bank of Canada downgraded shares of Magellan Midstream Partners from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $59.00 to $66.00 in a research report on Wednesday, May 17th. StockNews.com initiated coverage on shares of Magellan Midstream Partners in a research report on Thursday, September 7th. They issued a “hold” rating for the company. Finally, TD Securities upped their target price on shares of Magellan Midstream Partners from $67.50 to $69.00 and gave the stock a “tender” rating in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Magellan Midstream Partners currently has an average rating of “Hold” and a consensus price target of $60.70.

Magellan Midstream Partners Trading Up 1.0 %

Shares of NYSE MMP traded up $0.69 during mid-day trading on Thursday, hitting $68.87. The company’s stock had a trading volume of 269,355 shares, compared to its average volume of 1,164,959. Magellan Midstream Partners, L.P. has a one year low of $45.52 and a one year high of $68.94. The company’s fifty day simple moving average is $65.34 and its 200-day simple moving average is $59.95. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.08 and a quick ratio of 0.60. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 13.59 and a beta of 0.90.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. Magellan Midstream Partners had a net margin of 29.55% and a return on equity of 58.77%. The firm had revenue of $877.20 million for the quarter, compared to analysts’ expectations of $797.91 million. On average, sell-side analysts anticipate that Magellan Midstream Partners, L.P. will post 5.12 earnings per share for the current fiscal year.

Magellan Midstream Partners Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Monday, September 25th. Investors of record on Thursday, September 21st will be paid a dividend of $0.247 per share. The ex-dividend date is Wednesday, September 20th. Magellan Midstream Partners’s dividend payout ratio (DPR) is presently 83.47%.

Magellan Midstream Partners Company Profile

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 refined products pipeline that transports gasoline, diesel and aviation fuel, kerosene, and heating oil to refiners, 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.