Magellan Midstream Partners, L.P. (MMP) Shares Bought by Walnut Private Equity Partners LLC

Walnut Private Equity Partners LLC boosted its stake in Magellan Midstream Partners, L.P. (NYSE:MMP) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,291 shares of the pipeline company’s stock after purchasing an additional 5,486 shares during the quarter. Magellan Midstream Partners makes up 11.7% of Walnut Private Equity Partners LLC’s investment portfolio, making the stock its 3rd largest position. Walnut Private Equity Partners LLC owned about 0.10% of Magellan Midstream Partners worth $13,197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Global X Management Co LLC raised its holdings in shares of Magellan Midstream Partners by 7.4% during the 2nd quarter. Global X Management Co LLC now owns 1,218,874 shares of the pipeline company’s stock valued at $84,200,000 after buying an additional 83,828 shares in the last quarter. Northstar Investment Advisors LLC raised its holdings in shares of Magellan Midstream Partners by 2.5% during the 3rd quarter. Northstar Investment Advisors LLC now owns 116,405 shares of the pipeline company’s stock valued at $7,883,000 after buying an additional 2,890 shares in the last quarter. Kovack Advisors Inc. purchased a new position in shares of Magellan Midstream Partners during the 3rd quarter valued at about $270,000. Captrust Financial Advisors raised its holdings in shares of Magellan Midstream Partners by 1,535.4% during the 3rd quarter. Captrust Financial Advisors now owns 40,099 shares of the pipeline company’s stock valued at $2,716,000 after buying an additional 37,647 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Magellan Midstream Partners by 13.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 33,217 shares of the pipeline company’s stock valued at $2,249,000 after buying an additional 3,871 shares in the last quarter. Institutional investors and hedge funds own 65.52% of the company’s stock.

Shares of MMP traded down $0.76 during mid-day trading on Friday, hitting $61.67. 63,815 shares of the company’s stock traded hands, compared to its average volume of 1,374,201. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.44 and a current ratio of 0.60. Magellan Midstream Partners, L.P. has a 1 year low of $54.25 and a 1 year high of $75.82. The stock has a market capitalization of $14.27 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78.

Magellan Midstream Partners (NYSE:MMP) last released its quarterly earnings results on Thursday, November 1st. The pipeline company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.07. Magellan Midstream Partners had a return on equity of 43.31% and a net margin of 47.75%. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $621.97 million. During the same period in the previous year, the company posted $0.97 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Magellan Midstream Partners, L.P. will post 4.32 EPS for the current fiscal year.

In related news, insider Lisa J. Korner sold 10,000 shares of Magellan Midstream Partners stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $58.14, for a total transaction of $581,400.00. Following the sale, the insider now directly owns 73,257 shares in the company, valued at $4,259,161.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

A number of equities analysts recently weighed in on the company. ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Financial Group raised Magellan Midstream Partners from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Mizuho initiated 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. Zacks Investment Research cut Magellan Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Wells Fargo & Co decreased their price target on Magellan Midstream Partners from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.06.

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Magellan Midstream Partners Company Profile

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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