Why Magellan Midstream Partners Rallied 10% in May
Units of MLP Magellan Midstream Partners (NYSE: MMP) rose 10% in May, according to data provided by S&P Global Market Intelligence. That rally came even though the company warned investors that it wasn't immune to the downturn in the oil market.
Magellan Midstream Partners reported its first-quarter results in early May. Overall, its earnings and cash flow held up reasonably well: Both declined by less than 4% despite all the turmoil in the oil market.
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Source Fool.com
