Trading Report: Today: Swift Run Capital Management LLC Continues to Hold Stake in Magellan Midstream Partners L.P. (MMP)

Today: Swift Run Capital Management LLC Continues to Hold Stake in Magellan Midstream Partners L.P. (MMP)

Swift Run Capital Management LLC maintained its position in shares of Magellan Midstream Partners L.P. (NYSE:MMP) during the third quarter, Holdings Channel reports. The institutional investor owned 2,940 shares of the company’s stock at the end of the third quarter. Swift Run Capital Management LLC’s holdings in Magellan Midstream Partners L.P. were worth $208,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. boosted its position in Magellan Midstream Partners L.P. by 1.4% in the third quarter. Wedbush Securities Inc. now owns 10,278 shares of the company’s stock worth $727,000 after buying an additional 139 shares in the last quarter. Camelot Portfolios LLC boosted its position in Magellan Midstream Partners L.P. by 0.7% in the third quarter. Camelot Portfolios LLC now owns 8,598 shares of the company’s stock worth $608,000 after buying an additional 57 shares in the last quarter. Global X Management Co. LLC boosted its position in Magellan Midstream Partners L.P. by 18.5% in the third quarter. Global X Management Co. LLC now owns 417,325 shares of the company’s stock worth $29,522,000 after buying an additional 65,144 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Magellan Midstream Partners L.P. by 7.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,980 shares of the company’s stock worth $282,000 after buying an additional 269 shares in the last quarter. Finally, Kings Point Capital Management boosted its position in Magellan Midstream Partners L.P. by 5.0% in the third quarter. Kings Point Capital Management now owns 7,699 shares of the company’s stock worth $545,000 after buying an additional 365 shares in the last quarter. Institutional investors own 63.75% of the company’s stock.

Magellan Midstream Partners L.P. (NYSE:MMP) opened at 69.44 on Monday. The firm has a market cap of $15.82 billion, a P/E ratio of 19.90 and a beta of 0.76. Magellan Midstream Partners L.P. has a 52-week low of $54.51 and a 52-week high of $77.45. The company’s 50 day moving average is $68.54 and its 200-day moving average is $70.91.

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

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

A number of equities research analysts have weighed in on MMP shares. Zacks Investment Research lowered shares of Magellan Midstream Partners L.P. from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Argus reissued a “buy” rating and set a $85.00 target price on shares of Magellan Midstream Partners L.P. in a report on Tuesday, August 23rd. Wunderlich reissued a “hold” rating and set a $71.00 target price on shares of Magellan Midstream Partners L.P. in a report on Friday, August 5th. Morgan Stanley set a $73.00 target price on shares of Magellan Midstream Partners L.P. and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Finally, Mizuho started coverage on shares of Magellan Midstream Partners L.P. in a report on Thursday, September 29th. They set a “neutral” rating and a $73.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $76.23.

About Magellan Midstream Partners L.P.

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