Rothschild Investment Corp IL Has $3.43 Million Stock Holdings in Magellan Midstream Partners, L.P. (NYSE:MMP)

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Rothschild Investment Corp IL boosted its position in Magellan Midstream Partners, L.P. (NYSE:MMP) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,800 shares of the pipeline company’s stock after buying an additional 2,500 shares during the quarter. Rothschild Investment Corp IL’s holdings in Magellan Midstream Partners were worth $3,433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in MMP. Manchester Financial Inc. acquired a new stake in Magellan Midstream Partners in the 2nd quarter valued at approximately $25,000. Weaver Consulting Group acquired a new stake in Magellan Midstream Partners in the 2nd quarter valued at approximately $41,000. AGF Investments LLC raised its position in Magellan Midstream Partners by 30.6% in the 2nd quarter. AGF Investments LLC now owns 776 shares of the pipeline company’s stock valued at $50,000 after buying an additional 182 shares during the last quarter. Putnam FL Investment Management Co. acquired a new stake in Magellan Midstream Partners in the 2nd quarter valued at approximately $61,000. Finally, NEXT Financial Group Inc raised its position in Magellan Midstream Partners by 142.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,455 shares of the pipeline company’s stock valued at $93,000 after buying an additional 855 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

MMP stock traded up $0.18 during mid-day trading on Friday, reaching $65.77. The company had a trading volume of 843,450 shares, compared to its average volume of 900,795. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.66 and a quick ratio of 0.38. The stock has a 50 day simple moving average of $66.00 and a two-hundred day simple moving average of $63.92. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.49 and a beta of 0.72. Magellan Midstream Partners, L.P. has a 52 week low of $54.25 and a 52 week high of $67.75.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.13. The firm had revenue of $701.70 million during the quarter, compared to the consensus estimate of $658.67 million. Magellan Midstream Partners had a return on equity of 38.48% and a net margin of 48.33%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. On average, equities analysts predict that Magellan Midstream Partners, L.P. will post 4.37 EPS for the current year.

In related news, Director Chansoo Joung purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $67.28 per share, for a total transaction of $336,400.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $336,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff R. Selvidge sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $66.38, for a total value of $464,660.00. Following the completion of the transaction, the insider now owns 17,897 shares of the company’s stock, valued at $1,188,002.86. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

A number of equities research analysts recently issued reports on the company. Credit Suisse Group lifted their target price on Magellan Midstream Partners from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Raymond James lifted their target price on Magellan Midstream Partners from $69.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Bank of America lifted their target price on Magellan Midstream Partners from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Stifel Nicolaus lifted their target price on Magellan Midstream Partners from $62.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.46.

Magellan Midstream Partners Profile

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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

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