Insider Selling: Randy Nickerson Sells 1,500 Shares of MarkWest Energy Partners Stock (MWE)
MarkWest Energy Partners (NYSE:MWE) EVP Randy Nickerson sold 1,500 shares of the company’s stock on the open market in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $66.27, for a total transaction of $99,405.00. Following the completion of the transaction, the executive vice president now directly owns 225,119 shares of the company’s stock, valued at approximately $14,918,636. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
MWE has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of MarkWest Energy Partners from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of MarkWest Energy Partners in a research note to investors on Wednesday, December 11th. They set a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of MarkWest Energy Partners in a research note to investors on Friday, November 22nd. They now have a $77.00 price target on the stock, down previously from $79.50. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. MarkWest Energy Partners presently has an average rating of “Buy” and a consensus target price of $75.56.
MarkWest Energy Partners (NYSE:MWE) traded up 0.59% on Thursday, hitting $66.52. The stock had a trading volume of 642,008 shares. MarkWest Energy Partners has a 1-year low of $51.77 and a 1-year high of $75.79. The stock has a 50-day moving average of $66.85 and a 200-day moving average of $68.74. The company has a market cap of $10.011 billion and a P/E ratio of 130.43.
MarkWest Energy Partners (NYSE:MWE) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.41. The company had revenue of $420.52 million for the quarter, compared to the consensus estimate of $458.22 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 49.9% on a year-over-year basis.
MarkWest Energy Partners, L.P. is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of NGLs, and the gathering and transportation of crude oil.
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