Magellan Midstream Partners L.P. (NYSE:MMP) Position Held by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC continued to hold its position in shares of Magellan Midstream Partners L.P. (NYSE:MMP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,755 shares of the pipeline company’s stock at the end of the second quarter. Joel Isaacson & Co. LLC’s holdings in Magellan Midstream Partners L.P. were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MMP. Raymond James Trust N.A. boosted its stake in shares of Magellan Midstream Partners L.P. by 0.6% in the first quarter. Raymond James Trust N.A. now owns 10,439 shares of the pipeline company’s stock worth $803,000 after buying an additional 64 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in shares of Magellan Midstream Partners L.P. by 16.9% in the first quarter. Spirit of America Management Corp NY now owns 319,890 shares of the pipeline company’s stock worth $24,603,000 after buying an additional 46,210 shares in the last quarter. TNB Financial acquired a new stake in shares of Magellan Midstream Partners L.P. during the first quarter worth $212,000. Prospera Financial Services Inc boosted its stake in shares of Magellan Midstream Partners L.P. by 14.7% in the first quarter. Prospera Financial Services Inc now owns 19,741 shares of the pipeline company’s stock worth $1,518,000 after buying an additional 2,536 shares in the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Magellan Midstream Partners L.P. during the first quarter worth $283,000. Institutional investors and hedge funds own 62.46% of the company’s stock.

Shares of Magellan Midstream Partners L.P. (NYSE MMP) traded down 0.02% during trading on Friday, hitting $64.84. 526,489 shares of the stock were exchanged. The stock has a 50-day moving average of $69.29 and a 200 day moving average of $73.87. Magellan Midstream Partners L.P. has a 12-month low of $64.25 and a 12-month high of $81.77. The stock has a market cap of $14.79 billion, a P/E ratio of 17.58 and a beta of 0.80.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a $0.89 dividend. The ex-dividend date was Thursday, July 27th. This represents a $3.56 annualized dividend and a yield of 5.49%. This is an increase from Magellan Midstream Partners L.P.’s previous quarterly dividend of $0.84. Magellan Midstream Partners L.P.’s dividend payout ratio is presently 96.74%.

TRADEMARK VIOLATION WARNING: This report was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/joel-isaacson-co-llc-maintains-stake-in-magellan-midstream-partners-l-p-nysemmp-updated.html.

MMP has been the subject of a number of recent research reports. Macquarie initiated coverage on shares of Magellan Midstream Partners L.P. in a research note on Friday, April 21st. They set a “neutral” rating and a $80.00 price target for the company. Credit Suisse Group upgraded shares of Magellan Midstream Partners L.P. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $84.00 in a research note on Thursday, May 4th. Royal Bank Of Canada reiterated a “hold” rating and set a $80.00 price target on shares of Magellan Midstream Partners L.P. in a research note on Tuesday, June 20th. Jefferies Group LLC initiated coverage on shares of Magellan Midstream Partners L.P. in a research note on Thursday, June 22nd. They set a “hold” rating and a $73.00 price target for the company. Finally, BidaskClub upgraded shares of Magellan Midstream Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $79.77.

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

About Magellan Midstream Partners L.P.

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

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