Today: Today: Camelot Portfolios LLC invests in Magellan Midstream Partners L.P. (MMP) Shares

Today: Camelot Portfolios LLC invests in Magellan Midstream Partners L.P. (MMP) Shares

Camelot Portfolios LLC boosted its stake in shares of Magellan Midstream Partners L.P. (NYSE:MMP) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 8,598 shares of the company’s stock after buying an additional 57 shares during the period. Camelot Portfolios LLC’s holdings in Magellan Midstream Partners L.P. were worth $608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MMP. Janney Montgomery Scott LLC boosted its stake in Magellan Midstream Partners L.P. by 97.9% in the second quarter. Janney Montgomery Scott LLC now owns 89,616 shares of the company’s stock worth $6,810,000 after buying an additional 44,336 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in Magellan Midstream Partners L.P. by 8.6% in the third quarter. Spirit of America Management Corp NY now owns 245,680 shares of the company’s stock worth $17,380,000 after buying an additional 19,500 shares during the last quarter. Blair William & Co. IL boosted its stake in Magellan Midstream Partners L.P. by 38.3% in the second quarter. Blair William & Co. IL now owns 352,307 shares of the company’s stock worth $26,775,000 after buying an additional 97,583 shares during the last quarter. Raub Brock Capital Management LP boosted its stake in Magellan Midstream Partners L.P. by 8.3% in the second quarter. Raub Brock Capital Management LP now owns 159,099 shares of the company’s stock worth $12,092,000 after buying an additional 12,250 shares during the last quarter. Finally, Hilton Capital Management LLC boosted its stake in Magellan Midstream Partners L.P. by 10.5% in the third quarter. Hilton Capital Management LLC now owns 227,806 shares of the company’s stock worth $16,115,000 after buying an additional 21,715 shares during the last quarter. Institutional investors and hedge funds own 63.75% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (NYSE:MMP) traded down 0.78% during trading on Monday, hitting $68.90. 98,388 shares of the stock traded hands. Magellan Midstream Partners L.P. has a 12 month low of $54.51 and a 12 month high of $77.45. The company has a 50 day moving average price of $68.54 and a 200 day moving average price of $70.91. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 19.74 and a beta of 0.76.

Magellan Midstream Partners L.P. (NYSE:MMP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $586.67 million for the quarter, compared to analysts’ expectations of $291.99 million. Magellan Midstream Partners L.P. had a net margin of 36.82% and a return on equity of 38.77%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. Analysts anticipate that Magellan Midstream Partners L.P. will post $3.55 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a dividend of $0.8375 per share. The ex-dividend date was Thursday, October 27th. This is a boost from Magellan Midstream Partners L.P.’s previous dividend of $0.70. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is 95.99%.

A number of research firms have weighed in on MMP. Zacks Investment Research cut shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Mizuho began coverage on shares of Magellan Midstream Partners L.P. in a research note on Thursday, September 29th. They set a “neutral” rating and a $73.00 target price on the stock. Argus reaffirmed a “buy” rating and set a $85.00 target price on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, August 23rd. Morgan Stanley cut shares of Magellan Midstream Partners L.P. from an “equal” rating to an “underweight” rating and decreased their target price for the stock from $73.00 to $69.00 in a research note on Thursday, August 18th. Finally, Wunderlich reaffirmed a “hold” rating and set a $71.00 target price on shares of Magellan Midstream Partners L.P. in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Magellan Midstream Partners L.P. presently has a consensus rating of “Hold” and an average price target of $76.23.

About Magellan Midstream Partners L.P.

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