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NEW YORK ( TheStreet) -- Magellan Midstream Partners (NYSE: MMP) hit a new 52-week high Friday as it is currently trading at $63.29, above its previous 52-week high of $63.22 with 20,963 shares traded as of 9:50 a.m. ET. Average volume has been 312,800 shares over the past 30 days. Magellan Midstream has a market cap of $7.1 billion and is part of the basic materials sector and energy industry. Shares are up 11.5% year to date as of the close of trading on Thursday. Magellan Midstream Partners, L.P., together with its subsidiaries, engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company has a P/E ratio of 23.2, above the average energy industry P/E ratio of 20.8 and above the S&P 500 P/E ratio of 17.7.