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NEW YORK ( TheStreet) -- Magellan Midstream Partners L.P (NYSE: MMP) hit a new 52-week high Tuesday as it is currently trading at $71.63, above its previous 52-week high of $71.60 with 34,027 shares traded as of 10:28 a.m. ET. Average volume has been 251,500 shares over the past 30 days. Magellan Midstream Partners L.P has a market cap of $7.54 billion and is part of the basic materials sector and energy industry. Shares are up 3.4% year to date as of the close of trading on Friday. 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 19.5, above the average energy industry P/E ratio of 19.2 and above the S&P 500 P/E ratio of 17.7.