TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Thursday reported second-quarter net income of $280.4 million.

The Tulsa, Oklahoma-based company said it had profit of $1.26 per share. Earnings, adjusted for one-time gains and costs, were $1.38 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The petroleum and oil storage and transportation company posted revenue of $653.6 million in the period.

Magellan Midstream shares have increased 12% since the beginning of the year. The stock has climbed 16% 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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