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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.