MarkWest Energy Partners Rating Increased to Buy at Merrill Lynch (MWE)
MarkWest Energy Partners (NYSE:MWE) was upgraded by stock analysts at Merrill Lynch to a “buy” rating in a report issued on Wednesday, AnalystRatingsNetwork.com reports.
MarkWest Energy Partners (NYSE:MWE) traded up 1.41% during mid-day trading on Wednesday, hitting $68.17. 567,459 shares of the company’s stock traded hands. MarkWest Energy Partners has a 52 week low of $52.76 and a 52 week high of $75.79. The stock’s 50-day moving average is $66.0 and its 200-day moving average is $68.81. The company has a market cap of $10.259 billion and a price-to-earnings ratio of 132.58.
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. On average, analysts predict that MarkWest Energy Partners will post $0.56 earnings per share for the current fiscal year.
In other MarkWest Energy Partners news, EVP Randy Nickerson sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $66.27, for a total value of $99,405.00. Following the completion of the sale, 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 SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich initiated coverage on shares of MarkWest Energy Partners in a research note to investors on Wednesday. They set a “buy” rating and a $78.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of MarkWest Energy Partners in a research note to investors on Friday, January 3rd. They now have a $70.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. MarkWest Energy Partners currently has a consensus rating of “Buy” and an average price target of $75.50.
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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