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Midcoast Energy Partners LP (NYSE:MEP) announced a quarterly dividend on Wednesday, January 29th, AnalystRatingsNetwork.com reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.1664 per share on Friday, February 14th. This represents a $0.67 annualized dividend and a dividend yield of 3.21%.

MEP has been the subject of a number of recent research reports. Analysts at Merrill Lynch initiated coverage on shares of Midcoast Energy Partners LP in a research note to investors on Tuesday, December 17th. They set a “buy” rating on the stock. On the ratings front, analysts at Credit Suisse initiated coverage on shares of Midcoast Energy Partners LP in a research note to investors on Tuesday, December 17th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, analysts at Bank of America Corp. initiated coverage on shares of Midcoast Energy Partners LP in a research note to investors on Tuesday, December 17th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.67.

Midcoast Energy Partners LP (NYSE:MEP) remained flat at $20.71 during during mid-day trading trading on Wednesday. 76,576 shares of the company’s stock traded hands. Midcoast Energy Partners LP has a 1-year low of $16.96 and a 1-year high of $21.34. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $18.76.

Midcoast Energy Partners L.P. is a vehicle for owning and growing its natural gas and natural gas liquids, or natural gas liquid (NYSE:MEP), midstream business in the United States.

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