Magellan’s 4Q results surpass Street forecasts

TULSA (AP) - Magellan Midstream Partners L.P. (MMP) on Thursday reported fourth-quarter profit of $286.4 million. The Tulsa-based company said it had net income of $1.25 per share. Earnings, adjusted for non-recurring costs, were $1.31 per share. The results beat Wall Street expectations.