The First Trust Advisors LP invests in Magellan Midstream Partners L.P. (MMP) Shares

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Magellan Midstream Partners L.P. logoFirst Trust Advisors LP raised its stake in Magellan Midstream Partners L.P. (NYSE:MMP) by 42.zero% in the course of the third quarter, in keeping with its most up-to-date Form 13F submitting with the Securities and Exchange Commission. The fund owned 80,296 shares of the corporate’s inventory after shopping for a further 23,744 shares in the course of the interval. First Trust Advisors LP’s holdings in Magellan Midstream Partners L.P. have been price $5,680,000 on the finish of the newest reporting interval.

Other giant buyers have additionally modified their holdings of the corporate. Enterprise Financial Services Corp elevated its stake in shares of Magellan Midstream Partners L.P. by 10.1% within the third quarter. Enterprise Financial Services Corp now owns 1,450 shares of the corporate’s inventory valued at $103,000 after shopping for a further 133 shares within the final quarter. Independent Portfolio Consultants Inc. elevated its stake in shares of Magellan Midstream Partners L.P. by 13.three% within the second quarter. Independent Portfolio Consultants Inc. now owns 1,406 shares of the corporate’s inventory valued at $107,000 after shopping for a further 165 shares within the final quarter. Bellwether Investment Group LLC acquired a brand new stake in shares of Magellan Midstream Partners L.P. in the course of the second quarter valued at $109,000. Carroll Financial Associates Inc. elevated its stake in shares of Magellan Midstream Partners L.P. by 2.6% within the second quarter. Carroll Financial Associates Inc. now owns 1,994 shares of the corporate’s inventory valued at $151,000 after shopping for a further 50 shares within the final quarter. Finally, Americafirst Capital Management LLC acquired a brand new stake in shares of Magellan Midstream Partners L.P. in the course of the second quarter valued at $161,000. 63.74% of the inventory is owned by institutional buyers and hedge funds.

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

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) traded up zero.66% on Friday, reaching $71.32. The firm had a buying and selling quantity of 537,576 shares. The agency has a market capitalization of $16.25 billion, a P/E ratio of 20.44 and a beta of zero.76. The firm’s 50-day shifting common value is $68.23 and its 200 day shifting common value is $70.85. Magellan Midstream Partners L.P. has a 52 week low of $55.25 and a 52 week excessive of $77.45.

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Magellan Midstream Partners L.P. (NYSE:MMP) final introduced its earnings outcomes on Wednesday, November 2nd. The firm reported $zero.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $zero.88 by $zero.03. Magellan Midstream Partners L.P. had a return on fairness of 38.77% and a web margin of 36.82%. The agency had income of $586.67 million for the quarter, in comparison with badysts’ expectations of $291.99 million. During the identical quarter within the earlier 12 months, the corporate earned $zero.86 earnings per share. The agency’s quarterly income was up 6.three% in comparison with the identical quarter final 12 months. On common, badysts count on that Magellan Midstream Partners L.P. will submit $three.52 EPS for the present 12 months.

The firm additionally just lately introduced a dividend, which was paid on Monday, November 14th. Investors of report on Monday, October 31st have been issued a dividend of $zero.8375 per share. This is a lift from Magellan Midstream Partners L.P.’s earlier dividend of $zero.70. The ex-dividend date of this dividend was Thursday, October 27th. Magellan Midstream Partners L.P.’s payout ratio is presently 95.99%.

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Several equities badysis badysts have weighed in on MMP shares. Argus reissued a “buy” ranking and issued a $85.00 value goal on shares of Magellan Midstream Partners L.P. in a report on Tuesday, August 23rd. Zacks Investment Research raised Magellan Midstream Partners L.P. from a “hold” ranking to a “buy” ranking and set a $78.00 value goal for the corporate in a report on Wednesday, October fifth. Mizuho started protection on Magellan Midstream Partners L.P. in a badysis be aware on Thursday, September 29th. They issued a “neutral” ranking and a $73.00 value goal for the corporate. Finally, Morgan Stanley lower Magellan Midstream Partners L.P. from an “equal” ranking to an “underweight” ranking and decreased their value goal for the inventory from $73.00 to $69.00 in a badysis be aware on Thursday, August 18th. Three equities badysis badysts have rated the inventory with a promote ranking, six have badigned a maintain ranking, six have issued a purchase ranking and one has given a powerful purchase ranking to the inventory. The firm at the moment has a median ranking of “Hold” and a median goal value of $76.23.

Magellan Midstream Partners L.P. Company Profile

5 Day Chart for NYSE:MMP

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