Disciplined Investments LLC Sells 3,447 Shares of Magellan Midstream Partners, L.P. (NYSE:MMP)

Disciplined Investments LLC lessened its holdings in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,391 shares of the pipeline company’s stock after selling 3,447 shares during the quarter. Disciplined Investments LLC’s holdings in Magellan Midstream Partners were worth $1,208,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MMP. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Magellan Midstream Partners by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,697,017 shares of the pipeline company’s stock valued at $132,343,000 after acquiring an additional 246,037 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Magellan Midstream Partners by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 51,663 shares of the pipeline company’s stock worth $2,535,000 after buying an additional 2,299 shares during the last quarter. Raymond James Trust N.A. lifted its position in Magellan Midstream Partners by 6.7% in the 1st quarter. Raymond James Trust N.A. now owns 12,003 shares of the pipeline company’s stock worth $589,000 after buying an additional 758 shares during the last quarter. Blair William & Co. IL lifted its position in Magellan Midstream Partners by 2.3% in the 1st quarter. Blair William & Co. IL now owns 200,265 shares of the pipeline company’s stock worth $9,827,000 after buying an additional 4,580 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Magellan Midstream Partners by 4.4% in the 1st quarter. Cetera Investment Advisers now owns 17,177 shares of the pipeline company’s stock worth $843,000 after buying an additional 729 shares during the last quarter. Institutional investors own 54.84% of the company’s stock.

Magellan Midstream Partners Trading Down 1.5 %

Shares of Magellan Midstream Partners stock traded down $1.05 during midday trading on Friday, reaching $68.23. 2,518,598 shares of the company’s stock traded hands, compared to its average volume of 1,118,342. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.60 and a current ratio of 1.08. The company has a market cap of $13.79 billion, a PE ratio of 13.59 and a beta of 0.90. The stock has a 50 day moving average of $65.59 and a 200-day moving average of $60.12. Magellan Midstream Partners, L.P. has a 12 month low of $45.52 and a 12 month high of $69.40.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $877.20 million during the quarter, compared to the consensus estimate of $797.91 million. Magellan Midstream Partners had a return on equity of 58.77% and a net margin of 29.55%. As a group, equities analysts expect that Magellan Midstream Partners, L.P. will post 5.12 EPS for the current fiscal year.

Magellan Midstream Partners Dividend Announcement

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

Analysts Set New Price Targets

MMP has been the subject of a number of recent research reports. Argus downgraded Magellan Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. StockNews.com began coverage on Magellan Midstream Partners in a research report on Friday. They issued a “hold” rating for the company. TD Securities boosted their price objective on Magellan Midstream Partners from $67.50 to $69.00 and gave the company a “tender” rating in a research report on Friday, August 4th. Barclays boosted their price objective on Magellan Midstream Partners from $60.00 to $68.00 in a research report on Tuesday, July 18th. Finally, US Capital Advisors downgraded Magellan Midstream Partners from an “overweight” rating to a “hold” rating in a research report on Friday, May 19th. Three equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.70.

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.