Markwest Energy Partners Price Target Lowered to $70.00 at RBC Capital (MWE)
RBC Capital lowered their price target on shares of Markwest Energy Partners (NYSE:MWE) from $72.00 to $70.00 in a research note issued on Friday, Stock Ratings Network reports. RBC Capital’s price objective suggests a potential upside of 10.36% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Markwest Energy Partners from $80.00 to $82.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays downgraded shares of Markwest Energy Partners from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 30th. They now have a $70.00 price target on the stock, down previously from $74.00. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.70.
Markwest Energy Partners (NYSE:MWE) traded down 0.46% on Friday, hitting $63.1399. 85,813 shares of the company’s stock traded hands. Markwest Energy Partners has a 52-week low of $58.62 and a 52-week high of $75.79. The stock has a 50-day moving average of $64.06 and a 200-day moving average of $67.30. The company has a market cap of $9.975 billion and a P/E ratio of 266.51.
Markwest Energy Partners (NYSE:MWE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.17. The company had revenue of $512.50 million for the quarter, compared to the consensus estimate of $543.04 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. Analysts expect that Markwest Energy Partners will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Wednesday, May 7th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Monday, May 5th. This is an increase from Markwest Energy Partners’s previous quarterly dividend of $0.86.
In other Markwest Energy Partners news, EVP C Corwin Bromley sold 1,500 shares of Markwest Energy Partners stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. Following the completion of the sale, the executive vice president now directly owns 68,486 shares in the company, valued at approximately $4,325,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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