5 Stocks Dragging The Basic Materials Sector Downward

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

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 68 points (0.4%) at 15,371 as of Thursday, May 30, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,814 issues advancing vs. 1,135 declining with 104 unchanged.

The Basic Materials sector currently sits up 0.7% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the sector include Boardwalk Pipeline Partners ( BWP), down 4.84, Baker Hughes ( BHI), down 2.15, Enterprise Products Partners ( EPD), down 2.19, Kinder Morgan ( KMI), down 2.20 and Halliburton Company ( HAL), down 1.88. Top gainers within the sector include Kinross Gold Corporation ( KGC), up 7.7%, Anglogold Ashanti ( AU), up 7.2%, Barrick Gold Corporation ( ABX), up 6.9%, Eldorado Gold ( EGO), up 6.1% and Goldcorp ( GG), up 5.4%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:

5. Magellan Midstream Partners L.P ( MMP) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Magellan Midstream Partners L.P is down $1.03 (-2.0%) to $51.65 on heavy volume Thus far, 648,804 shares of Magellan Midstream Partners L.P exchanged hands as compared to its average daily volume of 567,200 shares. The stock has ranged in price between $51.25-$53.08 after having opened the day at $52.96 as compared to the previous trading day's close of $52.68.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of petroleum products in the United States. Magellan Midstream Partners L.P has a market cap of $12.3 billion and is part of the energy industry. The company has a P/E ratio of 26.9, above the S&P 500 P/E ratio of 17.7. Shares are up 25.4% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Magellan Midstream Partners L.P a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Magellan Midstream Partners L.P as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Magellan Midstream Partners L.P Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

4. As of noon trading, Energy Transfer Equity ( ETE) is down $1.27 (-2.1%) to $57.96 on heavy volume Thus far, 642,777 shares of Energy Transfer Equity exchanged hands as compared to its average daily volume of 856,100 shares. The stock has ranged in price between $57.23-$59.33 after having opened the day at $59.28 as compared to the previous trading day's close of $59.23.

Energy Transfer Equity, L.P., through its subsidiaries, provides diversified energy-related services in the United States. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. Energy Transfer Equity has a market cap of $16.8 billion and is part of the energy industry. The company has a P/E ratio of 84.5, above the S&P 500 P/E ratio of 17.7. Shares are up 31.9% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate Energy Transfer Equity a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Energy Transfer Equity as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Energy Transfer Equity Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

3. As of noon trading, Plains All American Pipeline ( PAA) is down $1.14 (-2.0%) to $56.44 on heavy volume Thus far, 1.4 million shares of Plains All American Pipeline exchanged hands as compared to its average daily volume of 905,700 shares. The stock has ranged in price between $55.58-$57.68 after having opened the day at $57.61 as compared to the previous trading day's close of $57.58.

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil and refined products in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics. Plains All American Pipeline has a market cap of $19.9 billion and is part of the energy industry. The company has a P/E ratio of 18.5, above the S&P 500 P/E ratio of 17.7. Shares are up 29.5% year to date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Plains All American Pipeline a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Plains All American Pipeline as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Plains All American Pipeline Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

2. As of noon trading, Williams Partners ( WPZ) is down $0.60 (-1.2%) to $51.28 on light volume Thus far, 290,392 shares of Williams Partners exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $51.02-$51.88 after having opened the day at $51.81 as compared to the previous trading day's close of $51.88.

Williams Partners L.P., an energy infrastructure company, focuses on connecting North America's hydrocarbon resource plays to growing markets for natural gas and natural gas liquids (NGL). It operates in two segments, Gas Pipeline and Midstream Gas & Liquids. Williams Partners has a market cap of $21.9 billion and is part of the chemicals industry. The company has a P/E ratio of 34.3, above the S&P 500 P/E ratio of 17.7. Shares are up 8.6% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Williams Partners a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Williams Partners as a buy. Among the primary strengths of the company is its expanding profit margins over time. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Williams Partners Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

1. As of noon trading, Energy Transfer Partners L.P ( ETP) is down $0.61 (-1.2%) to $49.42 on heavy volume Thus far, 1.4 million shares of Energy Transfer Partners L.P exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $48.69-$50.05 after having opened the day at $50.00 as compared to the previous trading day's close of $50.03.

Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. Energy Transfer Partners L.P has a market cap of $18.9 billion and is part of the energy industry. The company has a P/E ratio of 77.5, above the S&P 500 P/E ratio of 17.7. Shares are up 19.1% year to date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Energy Transfer Partners L.P a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Energy Transfer Partners L.P as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Energy Transfer Partners L.P Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you are interested in one of these 5 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

A reminder about TheStreet Ratings group: 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.

null

More from Markets

Global Stocks Mixed, U.S. Futures Soften as Earnings, Oil, Rates Cloud Sentiment

Global Stocks Mixed, U.S. Futures Soften as Earnings, Oil, Rates Cloud Sentiment

Deutsche Bank Plans 'Significant' Job Cuts as Q1 Profits Slump

Deutsche Bank Plans 'Significant' Job Cuts as Q1 Profits Slump

Samsung Posts Record Q1 But Adds Cautious Voice To Smartphone Demand Forecasts

Samsung Posts Record Q1 But Adds Cautious Voice To Smartphone Demand Forecasts

Boeing Is Back to Cruising Altitude; GM Gets Assist From Amazon -- ICYMI

Boeing Is Back to Cruising Altitude; GM Gets Assist From Amazon -- ICYMI

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer