TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Friday reported third-quarter profit of $211.6 million.

The Tulsa, Oklahoma-based company said it had profit of 94 cents per share. Earnings, adjusted for non-recurring costs, came to 97 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The petroleum and oil storage and transportation company posted revenue of $598.3 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $565.3 million.

For the current quarter ending in December, Magellan Midstream expects its per-share earnings to be 80 cents.

The company expects full-year earnings to be $3.60 per share.

Magellan Midstream shares have decreased 44% since the beginning of the year. The stock has decreased 44% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMP at https://www.zacks.com/ap/MMP

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