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 $73.38, above its previous 52-week high of $73.32 with 17,386 shares traded as of 10:25 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 6% 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 19.9, above the average energy industry P/E ratio of 19.2 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 solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Magellan Midstream Partners L.P Ratings Report.

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