26,164 Shares in Magellan Midstream Partners, L.P. (NYSE:MMP) Purchased by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in Magellan Midstream Partners, L.P. (NYSE:MMP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,164 shares of the pipeline company’s stock, valued at approximately $1,586,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MMP. Comerica Securities Inc. increased its stake in Magellan Midstream Partners by 72.3% during the 4th quarter. Comerica Securities Inc. now owns 5,127 shares of the pipeline company’s stock valued at $293,000 after purchasing an additional 2,152 shares in the last quarter. Infrastructure Capital Advisors LLC increased its stake in Magellan Midstream Partners by 1.0% during the 4th quarter. Infrastructure Capital Advisors LLC now owns 535,245 shares of the pipeline company’s stock valued at $30,541,000 after purchasing an additional 5,493 shares in the last quarter. Comerica Bank increased its stake in Magellan Midstream Partners by 37.8% during the 4th quarter. Comerica Bank now owns 5,023 shares of the pipeline company’s stock valued at $314,000 after purchasing an additional 1,379 shares in the last quarter. First Trust Advisors LP increased its stake in Magellan Midstream Partners by 33.4% during the 4th quarter. First Trust Advisors LP now owns 125,211 shares of the pipeline company’s stock valued at $7,145,000 after purchasing an additional 31,358 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Magellan Midstream Partners by 2.6% during the 4th quarter. LPL Financial LLC now owns 58,136 shares of the pipeline company’s stock valued at $3,317,000 after purchasing an additional 1,493 shares in the last quarter. 68.86% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Jeff R. Selvidge sold 4,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.64, for a total transaction of $254,560.00. Following the sale, the insider now directly owns 23,397 shares of the company’s stock, valued at $1,488,985.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

A number of research analysts have issued reports on the stock. Johnson Rice began coverage on shares of Enterprise Products Partners in a research note on Thursday, May 30th. They set a “buy” rating and a $35.00 price target on the stock. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, LADENBURG THALM/SH SH set a $75.00 price objective on shares of Magellan Midstream Partners and gave the company a “buy” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Magellan Midstream Partners currently has a consensus rating of “Hold” and an average target price of $68.31.

NYSE MMP traded down $0.33 during mid-day trading on Thursday, reaching $65.30. 1,149,322 shares of the stock were exchanged, compared to its average volume of 891,639. The business has a 50 day simple moving average of $63.55. Magellan Midstream Partners, L.P. has a 1 year low of $54.25 and a 1 year high of $72.90. The stock has a market cap of $14.90 billion, a P/E ratio of 15.36, a P/E/G ratio of 2.60 and a beta of 0.74. The company has a quick ratio of 0.39, a current ratio of 0.70 and a debt-to-equity ratio of 1.69.

Magellan Midstream Partners (NYSE:MMP) last announced its quarterly earnings results on Wednesday, May 1st. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.06. Magellan Midstream Partners had a net margin of 47.92% and a return on equity of 38.97%. The firm had revenue of $628.90 million for the quarter, compared to the consensus estimate of $692.56 million. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities analysts forecast that Magellan Midstream Partners, L.P. will post 4.23 EPS for the current year.

About Magellan Midstream Partners

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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

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