Mariner Investment Group LLC Has $13.81 Million Position in Magellan Midstream Partners L.P. (MMP)

Mariner Investment Group LLC raised its stake in Magellan Midstream Partners L.P. (NYSE:MMP) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,740 shares of the pipeline company’s stock after buying an additional 20,700 shares during the period. Magellan Midstream Partners L.P. comprises approximately 7.6% of Mariner Investment Group LLC’s investment portfolio, making the stock its 3rd largest position. Mariner Investment Group LLC owned 0.08% of Magellan Midstream Partners L.P. worth $13,808,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Founders Capital Management acquired a new stake in Magellan Midstream Partners L.P. during the first quarter valued at about $109,000. Acropolis Investment Management LLC acquired a new stake in Magellan Midstream Partners L.P. during the first quarter valued at about $118,000. Catalyst Capital Advisors LLC increased its stake in Magellan Midstream Partners L.P. by 23.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,568 shares of the pipeline company’s stock valued at $121,000 after buying an additional 300 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of Magellan Midstream Partners L.P. by 7.5% in the second quarter. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company’s stock worth $129,000 after buying an additional 126 shares during the period. Finally, AlphaMark Advisors LLC increased its stake in shares of Magellan Midstream Partners L.P. by 444.9% in the first quarter. AlphaMark Advisors LLC now owns 1,929 shares of the pipeline company’s stock worth $148,000 after buying an additional 1,575 shares during the period. Institutional investors own 62.46% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (NYSE MMP) traded down 0.02% on Friday, reaching $64.84. The company had a trading volume of 526,489 shares. The firm has a market capitalization of $14.79 billion, a PE ratio of 17.58 and a beta of 0.80. Magellan Midstream Partners L.P. has a 12 month low of $64.25 and a 12 month high of $81.77. The company’s 50-day moving average is $69.29 and its 200 day moving average is $73.87.

Magellan Midstream Partners L.P. (NYSE:MMP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.03. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. The business had revenue of $619.40 million during the quarter, compared to analysts’ expectations of $561.70 million. During the same period in the prior year, the firm posted $0.82 EPS. Magellan Midstream Partners L.P.’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts forecast that Magellan Midstream Partners L.P. will post $3.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.49%. This is a boost from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Thursday, July 27th. Magellan Midstream Partners L.P.’s dividend payout ratio (DPR) is currently 96.74%.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Magellan Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Magellan Midstream Partners L.P. in a report on Tuesday, June 20th. Macquarie assumed coverage on Magellan Midstream Partners L.P. in a report on Friday, April 21st. They issued a “neutral” rating and a $80.00 price target for the company. Credit Suisse Group upgraded Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $84.00 in a report on Thursday, May 4th. Finally, UBS AG upgraded Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $79.77.

In related news, insider Douglas J. May sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now directly owns 27,599 shares of the company’s stock, valued at approximately $2,069,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Magellan Midstream Partners L.P. Company Profile

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

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