Magellan Midstream Partners L.P Stock Hits New 52-Week High (MMP)

NEW YORK ( TheStreet) -- Magellan Midstream Partners L.P (NYSE: MMP) hit a new 52-week high Thursday as it is currently trading at $65.98, above its previous 52-week high of $65.97 with 12,285 shares traded as of 9:43 a.m. ET. Average volume has been 253,600 shares over the past 30 days.

Magellan Midstream Partners L.P has a market cap of $7.35 billion and is part of the basic materials sector and energy industry. Shares are up 15.4% 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 18.7, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Magellan Midstream Partners L.P as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, expanding profit margins and good cash flow from operations. 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 Partners L.P Ratings Report.

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