SG Americas Securities LLC Sells 3,627 Shares of Magellan Midstream Partners, L.P. (MMP)

SG Americas Securities LLC lowered its stake in shares of Magellan Midstream Partners, L.P. (NYSE:MMP) by 16.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,696 shares of the pipeline company’s stock after selling 3,627 shares during the period. SG Americas Securities LLC’s holdings in Magellan Midstream Partners were worth $1,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asset Planning Services Inc. LA ADV lifted its stake in shares of Magellan Midstream Partners by 4.4% in the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 47,810 shares of the pipeline company’s stock valued at $3,238,000 after purchasing an additional 2,000 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Magellan Midstream Partners by 0.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 167,377 shares of the pipeline company’s stock valued at $11,334,000 after purchasing an additional 1,457 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Magellan Midstream Partners by 228.1% in the 3rd quarter. Gryphon Financial Partners LLC now owns 14,220 shares of the pipeline company’s stock valued at $962,000 after purchasing an additional 9,886 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Magellan Midstream Partners by 2.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 276,124 shares of the pipeline company’s stock valued at $16,838,000 after purchasing an additional 7,824 shares during the last quarter. Finally, Pegasus Asset Management Inc. lifted its stake in shares of Magellan Midstream Partners by 4.5% in the 3rd quarter. Pegasus Asset Management Inc. now owns 36,427 shares of the pipeline company’s stock valued at $2,467,000 after purchasing an additional 1,566 shares during the last quarter. 65.61% of the stock is currently owned by institutional investors.

MMP stock opened at $59.18 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $13.74 billion, a P/E ratio of 14.20, a PEG ratio of 2.33 and a beta of 0.81. Magellan Midstream Partners, L.P. has a 12-month low of $54.82 and a 12-month high of $75.82.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings data on Thursday, November 1st. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.07. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $621.97 million. Magellan Midstream Partners had a return on equity of 43.31% and a net margin of 47.75%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. On average, research analysts expect that Magellan Midstream Partners, L.P. will post 4.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th were issued a $0.9775 dividend. This represents a $3.91 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Tuesday, November 6th. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.96. Magellan Midstream Partners’s payout ratio is currently 102.62%.

In related news, insider Douglas J. May sold 5,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $68.69, for a total value of $343,450.00. Following the sale, the insider now owns 33,000 shares in the company, valued at approximately $2,266,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael N. Mears sold 30,000 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $68.84, for a total value of $2,065,200.00. Following the completion of the sale, the chief executive officer now owns 169,295 shares in the company, valued at approximately $11,654,267.80. The disclosure for this sale can be found here. Insiders sold a total of 40,500 shares of company stock worth $2,786,500 in the last quarter. Company insiders own 0.26% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research raised Magellan Midstream Partners from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Thursday, November 15th. Wolfe Research assumed coverage on Magellan Midstream Partners in a research note on Tuesday, October 30th. They issued a “hold” rating on the stock. Mizuho assumed coverage on Magellan Midstream Partners in a research note on Wednesday, November 28th. They issued a “neutral” rating and a $67.00 price target on the stock. Stifel Nicolaus set a $67.00 price target on Magellan Midstream Partners and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, Credit Suisse Group assumed coverage on Magellan Midstream Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $77.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $74.06.

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About Magellan Midstream Partners

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 through Refined Products, Crude Oil, and Marine Storage segments. It operates refined products pipeline that transports gasoline, distillates, aviation fuels, and liquefied petroleum gases for independent refiners and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, bio-fuel producers, and regional farm cooperatives; and provides services, including terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers.

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

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