Magellan Midstream Partners The energy transportation and storage company reported fourth-quarter earnings of $110.3 million, or 97 cents a share, last week, an increase from year-ago earnings of $88 million, or 78 cents. "MMP has been successful in diversifying its business into crude oil and should benefit from strong demand for additional midstream infrastructure and the favorable fundamental backdrop," Wells Fargo analysts wrote in a Feb. 8 report. "This, in turn, should enable the partnership to deliver above-average distribution growth, in our view. However, we are maintaining our Market Perform rating as MMP's growth prospects appear fairly reflected in the current valuation." Shares of Magellan Midstream hit a 52-week high Monday of $69.73. The stock's 52-week low of $51 was set on Aug. 8. Magellan Midstream has a forward P/E of 16.94X; the average for pipeline companies is 57.91X. For comparison, Kinder Morgan Energy ( KMP) and Oneok ( OKE) both have higher forward P/Es of 33.69X and 19.79X respectively. Of the 17 analysts who cover Magellan Midstream, nine of them gave the stock a hold rating and eight gave it a buy rating. TheStreet Ratings gives Magellan Midstream an A+ grade with a buy rating and has a $82.02 price target on the shares. The stock is up less than 1% so far in 2012.