San Francisco Sentry Investment Group CA lowered its stake in Magellan Midstream Partners, L.P. (NYSE:MMP) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,044 shares of the pipeline company’s stock after selling 1,500 shares during the period. San Francisco Sentry Investment Group CA’s holdings in Magellan Midstream Partners were worth $854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its position in Magellan Midstream Partners by 56.6% in the second quarter. Bogart Wealth LLC now owns 21,614 shares of the pipeline company’s stock worth $1,540,000 after acquiring an additional 7,811 shares in the last quarter. Bank of New York Mellon Corp grew its position in Magellan Midstream Partners by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 97,468 shares of the pipeline company’s stock worth $6,926,000 after acquiring an additional 3,981 shares in the last quarter. California Public Employees Retirement System grew its position in Magellan Midstream Partners by 3.8% in the third quarter. California Public Employees Retirement System now owns 519,267 shares of the pipeline company’s stock worth $36,899,000 after acquiring an additional 19,167 shares in the last quarter. JPMorgan Chase & Co. grew its position in Magellan Midstream Partners by 13.0% in 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. Finally, Cetera Investment Advisers purchased a new position in Magellan Midstream Partners in the second quarter worth about $1,414,000. Institutional investors own 61.97% of the company’s stock.

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

Magellan Midstream Partners, L.P. (MMP) opened at $66.28 on Friday. Magellan Midstream Partners, L.P. has a 12-month low of $63.55 and a 12-month high of $81.77. The stock has a market capitalization of $15,113.50, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.68 and a beta of 0.61. 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 (NYSE:MMP) last announced its earnings results on Thursday, February 1st. The pipeline company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.08). Magellan Midstream Partners had a net margin of 34.67% and a return on equity of 40.85%. The business had revenue of $673.30 million for the quarter, compared to analysts’ expectations of $690.18 million. During the same quarter last year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Magellan Midstream Partners, L.P. will post 3.99 EPS for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th will be given a dividend of $0.92 per share. This represents a dividend yield of 0.0125170068027211%. The ex-dividend date is Monday, February 5th. This is a positive change from Magellan Midstream Partners’s previous dividend of $0.84. Magellan Midstream Partners’s payout ratio is 96.59%.

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Magellan Midstream Partners Profile

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.

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

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