Shares of Magellan Midstream Partners (NYSE: MMP) shot up this week, trading 13% higher as of noon Friday, according to data provided by S&P Global Market Intelligence.

Ironically, several analysts downgraded the midstream energy stock over the past few days, but investors had a valid reason to rejoice.

Earlier in May, Magellan Midstream reported solid 18% year-over-year growth in its distributable cash flow (DCF) and a whopping 65% growth in net income for the first quarter. A strong first quarter even encouraged management to raise its DCF outlook for 2023. Until then, no one had an inkling about what was to come up after 10 days.

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Source Fool.com