Magellan Midstream Partners L.P. (MMP) Position Held by EagleClaw Capital Managment LLC

EagleClaw Capital Managment LLC continued to hold its position in Magellan Midstream Partners L.P. (NYSE:MMP) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,800 shares of the pipeline company’s stock at the close of the second quarter. EagleClaw Capital Managment LLC’s holdings in Magellan Midstream Partners L.P. were worth $200,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its stake in shares of Magellan Midstream Partners L.P. by 0.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 13,521,564 shares of the pipeline company’s stock valued at $963,682,000 after acquiring an additional 62,371 shares during the last quarter. UBS Group AG increased its stake in shares of Magellan Midstream Partners L.P. by 8.3% during the 1st quarter. UBS Group AG now owns 5,907,324 shares of the pipeline company’s stock valued at $454,332,000 after acquiring an additional 453,671 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Magellan Midstream Partners L.P. by 1.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,821,134 shares of the pipeline company’s stock valued at $272,333,000 after acquiring an additional 57,597 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Magellan Midstream Partners L.P. by 34.7% during the 2nd quarter. Bank of Montreal Can now owns 1,985,471 shares of the pipeline company’s stock valued at $141,505,000 after acquiring an additional 511,367 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Magellan Midstream Partners L.P. by 5.3% during the 2nd quarter. Creative Planning now owns 1,705,751 shares of the pipeline company’s stock valued at $121,569,000 after acquiring an additional 85,731 shares during the last quarter. Institutional investors own 60.87% of the company’s stock.

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In other news, insider Jeff R. Selvidge sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $70.64, for a total transaction of $353,200.00. Following the sale, the insider now directly owns 19,653 shares in the company, valued at $1,388,287.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

A number of research analysts have recently commented on MMP shares. UBS AG raised shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, July 18th. Citigroup Inc. raised shares of Magellan Midstream Partners L.P. from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, September 21st. Barclays PLC downgraded shares of Magellan Midstream Partners L.P. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $77.00 in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and set a $80.00 target price on shares of Magellan Midstream Partners L.P. in a research report on Monday, July 24th. Finally, Zacks Investment Research raised shares of Magellan Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Magellan Midstream Partners L.P. currently has a consensus rating of “Hold” and a consensus price target of $79.04.

Magellan Midstream Partners L.P. (NYSE:MMP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The company had revenue of $619.40 million for the quarter, compared to the consensus estimate of $561.70 million. Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS.

About Magellan Midstream Partners L.P.

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

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