Magellan Midstream Partners, L.P. (MMP) Position Held by Commerce Bank

Commerce Bank held its stake in Magellan Midstream Partners, L.P. (NYSE:MMP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,500 shares of the pipeline company’s stock at the end of the first quarter. Commerce Bank’s holdings in Magellan Midstream Partners, L.P. were worth $346,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Rikoon Group LLC purchased a new stake in shares of Magellan Midstream Partners, L.P. during the third quarter valued at approximately $1,941,000. Sigma Planning Corp raised its stake in shares of Magellan Midstream Partners, L.P. by 3.5% in the third quarter. Sigma Planning Corp now owns 15,623 shares of the pipeline company’s stock valued at $1,105,000 after buying an additional 524 shares during the last quarter. Kings Point Capital Management raised its stake in shares of Magellan Midstream Partners, L.P. by 5.0% in the third quarter. Kings Point Capital Management now owns 7,699 shares of the pipeline company’s stock valued at $545,000 after buying an additional 365 shares during the last quarter. Icon Advisers Inc. Co. raised its stake in shares of Magellan Midstream Partners, L.P. by 4.3% in the third quarter. Icon Advisers Inc. Co. now owns 160,600 shares of the pipeline company’s stock valued at $11,361,000 after buying an additional 6,600 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Magellan Midstream Partners, L.P. by 2.0% in the third quarter. Diversified Trust Co now owns 56,580 shares of the pipeline company’s stock valued at $4,002,000 after buying an additional 1,129 shares during the last quarter. Hedge funds and other institutional investors own 63.42% of the company’s stock.

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

Magellan Midstream Partners, L.P. (NYSE:MMP) last issued its quarterly earnings data on Wednesday, May 3rd. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The firm had revenue of $519.80 million during the quarter, compared to analysts’ expectations of $554.22 million. Magellan Midstream Partners, L.P. had a net margin of 36.40% and a return on equity of 40.66%. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were issued a dividend of $0.8725 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $3.49 dividend on an annualized basis and a yield of 4.73%. This is a boost from Magellan Midstream Partners, L.P.’s previous quarterly dividend of $0.84. Magellan Midstream Partners, L.P.’s payout ratio is currently 97.44%.

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Several equities research analysts have commented on the stock. Vetr lowered shares of Magellan Midstream Partners, L.P. from a “buy” rating to a “hold” rating and set a $78.61 price target on the stock. in a research note on Tuesday, January 24th. Royal Bank of Canada lowered shares of Magellan Midstream Partners, L.P. from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 3rd. Citigroup Inc lowered shares of Magellan Midstream Partners, L.P. from a “buy” rating to a “neutral” rating in a research note on Monday, March 6th. Macquarie assumed coverage on shares of Magellan Midstream Partners, L.P. in a research note on Friday, April 21st. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, UBS Group AG restated a “neutral” rating and issued a $82.00 price target (up previously from $81.00) on shares of Magellan Midstream Partners, L.P. in a research note on Thursday, March 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $79.57.

Magellan Midstream Partners, L.P. Company Profile

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