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5 Stocks Dragging The Basic Materials Sector Downward

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 68 points (0.4%) at 15,371 as of Thursday, May 30, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,814 issues advancing vs. 1,135 declining with 104 unchanged.

The Basic Materials sector currently sits up 0.7% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the sector include Boardwalk Pipeline Partners ( BWP), down 4.84, Baker Hughes ( BHI), down 2.15, Enterprise Products Partners ( EPD), down 2.19, Kinder Morgan ( KMI), down 2.20 and Halliburton Company ( HAL), down 1.88. Top gainers within the sector include Kinross Gold Corporation ( KGC), up 7.7%, Anglogold Ashanti ( AU), up 7.2%, Barrick Gold Corporation ( ABX), up 6.9%, Eldorado Gold ( EGO), up 6.1% and Goldcorp ( GG), up 5.4%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:

5. Magellan Midstream Partners L.P ( MMP) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Magellan Midstream Partners L.P is down $1.03 (-2.0%) to $51.65 on heavy volume Thus far, 648,804 shares of Magellan Midstream Partners L.P exchanged hands as compared to its average daily volume of 567,200 shares. The stock has ranged in price between $51.25-$53.08 after having opened the day at $52.96 as compared to the previous trading day's close of $52.68.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of petroleum products in the United States. Magellan Midstream Partners L.P has a market cap of $12.3 billion and is part of the energy industry. The company has a P/E ratio of 26.9, above the S&P 500 P/E ratio of 17.7. Shares are up 25.4% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Magellan Midstream Partners L.P a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Magellan Midstream Partners L.P as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Magellan Midstream Partners L.P Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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