Magellan Midstream Stock Hits New 52-Week High (MMP)

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.
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TheStreet Ratings rates Magellan Midstream as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, notable return on equity, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Magellan Midstream Ratings Report.

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