Markwest Energy Partners EVP Sells $110,500 in Stock (MWE)
Markwest Energy Partners (NYSE:MWE) EVP Randy S. Nickerson sold 1,700 shares of Markwest Energy Partners stock on the open market in a transaction dated Monday, April 14th. The shares were sold at an average price of $65.00, for a total value of $110,500.00. Following the completion of the transaction, the executive vice president now directly owns 225,709 shares in the company, valued at approximately $14,671,085. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
MWE has been the subject of a number of recent research reports. Analysts at Citigroup Inc. cut their price target on shares of Markwest Energy Partners from $77.00 to $72.00 in a research note on Friday, March 28th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Markwest Energy Partners in a research note on Thursday, March 20th. They now have a $68.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Markwest Energy Partners from $75.00 to $70.00 in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $71.40.
Markwest Energy Partners (NYSE:MWE) traded up 0.08% during mid-day trading on Monday, hitting $63.92. 524,258 shares of the company’s stock traded hands. Markwest Energy Partners has a 52 week low of $59.31 and a 52 week high of $75.79. The stock has a 50-day moving average of $64.92 and a 200-day moving average of $68.15. The company has a market cap of $10.098 billion and a P/E ratio of 268.36. Markwest Energy Partners also was the recipient of a significant increase in short interest in January. As of March 31st, there was short interest totalling 2,683,925 shares, an increase of 51.2% from the March 14th total of 1,775,303 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 797,305 shares, the short-interest ratio is presently 3.4 days.
Markwest Energy Partners (NYSE:MWE) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.28. The company had revenue of $453.50 million for the quarter, compared to the consensus estimate of $489.10 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, analysts predict that Markwest Energy Partners will post $1.21 earnings per share for the current fiscal year.
MarkWest Energy Partners, L.P. (NYSE:MWE) is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering and transportation of crude oil.
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