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NEW YORK ( TheStreet) -- Teekay Offshore Partners (NYSE: TOO) hit a new 52-week high Wednesday as it traded at $30.44 compared with its previous 52-Week high of $30.32. Teekay is changing hands at $29.97 with 99,253 shares traded as of 3:35 p.m. ET. Average volume has been 186,000 shares over the past 30 days. Teekay has a market cap of $1.5 billion and is part of the services sector and transportation industry. Shares are up 8.5% year to date as of the close of trading on Tuesday. Teekay Offshore Partners L.P. provides marine transportation and storage services to the offshore oil industry. The company has a P/E ratio of 16.5, above the S&P 500 P/E ratio of 16.1.