Magellan Midstream Partners L.P Reaches New 52-Week High (MMP)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Magellan Midstream Partners L.P (NYSE: MMP) hit a new 52-week high Friday as it is currently trading at $51.75, above its previous 52-week high of $51.74 with 255,355 shares traded as of 2:05 p.m. ET. Average volume has been 600,500 shares over the past 30 days.

Magellan Midstream Partners L.P has a market cap of $11.23 billion and is part of the basic materials sector and energy industry. Shares are up 16.2% year to date as of the close of trading on Thursday.

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 25.8, above the S&P 500 P/E ratio of 17.7.

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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, notable return on equity, expanding profit margins, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Magellan Midstream Partners L.P Ratings Report.

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