Magellan Midstream Partners, L.P. (MMP) Stake Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in Magellan Midstream Partners, L.P. (NYSE:MMP) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,634 shares of the pipeline company’s stock after acquiring an additional 1,591 shares during the quarter. King Luther Capital Management Corp’s holdings in Magellan Midstream Partners were worth $4,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MMP. Epoch Investment Partners Inc. purchased a new stake in Magellan Midstream Partners during the 3rd quarter valued at approximately $113,875,000. National Asset Management Inc. bought a new position in shares of Magellan Midstream Partners during the 3rd quarter valued at approximately $1,033,000. Argent Trust Co boosted its position in shares of Magellan Midstream Partners by 11.6% during the 3rd quarter. Argent Trust Co now owns 10,262 shares of the pipeline company’s stock valued at $729,000 after acquiring an additional 1,064 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Magellan Midstream Partners by 7.6% during the 3rd quarter. Private Advisor Group LLC now owns 72,475 shares of the pipeline company’s stock valued at $5,113,000 after acquiring an additional 5,150 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Magellan Midstream Partners by 4.1% during the 3rd quarter. Brown Advisory Inc. now owns 289,444 shares of the pipeline company’s stock valued at $20,568,000 after acquiring an additional 11,346 shares during the last quarter. 62.04% of the stock is owned by institutional investors.

Magellan Midstream Partners, L.P. (MMP) traded up $0.40 during trading on Friday, hitting $70.94. The stock had a trading volume of 889,130 shares, compared to its average volume of 881,360. The stock has a market capitalization of $16,084.86, a PE ratio of 19.17, a PEG ratio of 2.40 and a beta of 0.77. Magellan Midstream Partners, L.P. has a 1-year low of $63.55 and a 1-year high of $81.77. 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 (NYSE:MMP) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.97 EPS for the quarter, beating the Zacks’ 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 business had revenue of $551.80 million during the quarter, compared to analysts’ expectations of $610.12 million. During the same period in the previous year, the business earned $0.91 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. equities analysts forecast that Magellan Midstream Partners, L.P. will post 3.87 EPS for the current fiscal year.

A number of research analysts have recently commented on MMP shares. BMO Capital Markets assumed coverage on Magellan Midstream Partners in a research report on Monday, December 11th. They set a “buy” rating and a $80.00 target price for the company. Mizuho restated a “sell” rating and issued a $72.00 price target on shares of Magellan Midstream Partners in a research report on Friday, October 20th. Jefferies Group restated a “hold” rating and issued a $70.00 price target (down from $73.00) on shares of Magellan Midstream Partners in a research report on Sunday, September 3rd. Finally, Citigroup upgraded Magellan Midstream Partners from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Magellan Midstream Partners presently has an average rating of “Hold” and a consensus target price of $78.59.

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Magellan Midstream Partners Profile

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

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