NEW YORK (

TheStreet

) --

Magellan Midstream Partners

(NYSE:

MMP

) hit a new 52-week high Monday as it traded at $60.09 compared with its previous 52-Week high of $59.89. Magellan Midstream is changing hands at $60.09 with 5,688 shares traded as of 9:31 a.m. ET. Average volume has been 282,800 shares over the past 30 days.

Magellan Midstream has a market cap of $6.7 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 5.9% year to date as of the close of trading on Friday.

Magellan Midstream Partners, L.P., together with its subsidiaries, engages in the transportation, storage, and distribution of refined petroleum products in the United States. The company has a P/E ratio of 20.8, above the average energy industry P/E ratio of 18.6 and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Magellan Midstream as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, expanding profit margins, solid stock price performance and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Magellan Midstream Ratings Report

.

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