Squar Milner Financial Services LLC Takes Position in Magellan Midstream Partners, L.P. (MMP)

Squar Milner Financial Services LLC acquired a new stake in Magellan Midstream Partners, L.P. (NYSE:MMP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,630 shares of the pipeline company’s stock, valued at approximately $928,000. Magellan Midstream Partners comprises about 1.1% of Squar Milner Financial Services LLC’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also recently bought and sold shares of MMP. Epoch Investment Partners Inc. bought a new stake in shares of Magellan Midstream Partners in the 3rd quarter valued at $113,875,000. Atlantic Trust Group LLC boosted its stake in Magellan Midstream Partners by 43.4% during the third quarter. Atlantic Trust Group LLC now owns 3,149,302 shares of the pipeline company’s stock worth $223,789,000 after acquiring an additional 953,808 shares in the last quarter. Alps Advisors Inc. boosted its stake in Magellan Midstream Partners by 5.2% during the third quarter. Alps Advisors Inc. now owns 15,065,633 shares of the pipeline company’s stock worth $1,070,564,000 after acquiring an additional 745,755 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Magellan Midstream Partners by 5.3% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,238,881 shares of the pipeline company’s stock worth $1,011,815,000 after acquiring an additional 717,317 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Magellan Midstream Partners by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 4,316,528 shares of the pipeline company’s stock worth $304,574,000 after acquiring an additional 495,394 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Magellan Midstream Partners, L.P. (NYSE:MMP) opened at $67.82 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.29 and a current ratio of 0.50. Magellan Midstream Partners, L.P. has a 1-year low of $63.55 and a 1-year high of $81.69. The firm has a market cap of $15,455.51, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.61.

Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings data on Thursday, February 1st. The pipeline company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.08). Magellan Midstream Partners had a return on equity of 40.85% and a net margin of 34.67%. The business had revenue of $673.30 million for the quarter, compared to analyst estimates of $690.18 million. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. equities analysts forecast that Magellan Midstream Partners, L.P. will post 3.99 EPS for the current year.

The firm also recently disclosed a dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.92 per share. This is an increase from Magellan Midstream Partners’s previous dividend of $0.84. The ex-dividend date was Monday, February 5th. This represents a yield of 0.0125170068027211%. Magellan Midstream Partners’s dividend payout ratio is presently 96.59%.

In other Magellan Midstream Partners news, CEO Michael N. Mears sold 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $68.00, for a total transaction of $680,000.00. Following the transaction, the chief executive officer now owns 196,473 shares in the company, valued at $13,360,164. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael N. Mears sold 22,251 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $68.03, for a total transaction of $1,513,735.53. Following the transaction, the chief executive officer now owns 196,473 shares in the company, valued at approximately $13,366,058.19. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Several research analysts recently issued reports on MMP shares. Credit Suisse Group started coverage on shares of Magellan Midstream Partners in a research note on Thursday, January 4th. They set an “underperform” rating on the stock. Mizuho reissued a “sell” rating and set a $72.00 target price on shares of Magellan Midstream Partners in a research note on Friday, October 20th. BMO Capital Markets started coverage on shares of Magellan Midstream Partners in a research note on Monday, December 11th. They set a “buy” rating and a $80.00 target price on the stock. Royal Bank of Canada reissued a “hold” rating and set a $81.00 target price on shares of Magellan Midstream Partners in a research note on Tuesday, January 16th. Finally, Bank of America started coverage on shares of Magellan Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Magellan Midstream Partners has a consensus rating of “Hold” and a consensus target price of $77.36.

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About Magellan Midstream Partners

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

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

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