Magellan Midstream Stock To Go Ex-dividend Tomorrow (MMP)

NEW YORK ( TheStreet) -- The ex-dividend date for Magellan Midstream Partners (NYSE: MMP) is tomorrow, October 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 80 cents per share. At a price of $65.72 as of 9:35 a.m. ET, the dividend yield is 5%.

The average volume for Magellan Midstream has been 311,800 shares per day over the past 30 days. Magellan Midstream has a market cap of $7.2 billion and is part of the basic materials sector and energy industry. Shares are up 14.7% year to date as of the close of trading on Wednesday.

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 23.5, above the average energy industry P/E ratio of 21.1 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.

See our dividend calendar or top-yielding stocks list.

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