Magellan Midstream Partners L.P Stock To Go Ex-dividend Tomorrow (MMP)

NEW YORK ( TheStreet) -- The ex-dividend date for Magellan Midstream Partners L.P (NYSE: MMP) is tomorrow, May 4, 2012. Owners of shares as of market close today will be eligible for a dividend of 84 cents per share. At a price of $70.96 as of 9:30 a.m. ET, the dividend yield is 4.7%.

The average volume for Magellan Midstream Partners L.P has been 230,500 shares per day over the past 30 days. Magellan Midstream Partners L.P has a market cap of $8.05 billion and is part of the basic materials sector and energy industry. Shares are up 2.9% year to date as of the close of trading on Wednesday.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of petroleum products in the United States. The company has a P/E ratio of 19.4, 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 revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. 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.

See our dividend calendar or top-yielding stocks list.

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