Markwest Energy Partners Price Target Increased to $82.00 by Analysts at Credit Suisse (MWE)
Equities researchers at Credit Suisse boosted their target price on shares of Markwest Energy Partners (NYSE:MWE) from $80.00 to $82.00 in a research report issued on Friday, American Banking News.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target would indicate a potential upside of 29.34% from the stock’s previous close.
In other Markwest Energy Partners news, EVP C Corwin Bromley sold 1,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,325,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on MWE. 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. Separately, 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Markwest Energy Partners currently has an average rating of “Hold” and an average target price of $70.70.
Shares of Markwest Energy Partners (NYSE:MWE) opened at 63.40 on Friday. Markwest Energy Partners has a 1-year low of $58.62 and a 1-year high of $75.79. The stock has a 50-day moving average of $63.99 and a 200-day moving average of $67.23. The company has a market cap of $10.016 billion and a price-to-earnings ratio of 266.51.
Markwest Energy Partners (NYSE:MWE) last released its earnings data on Wednesday, May 7th. The company reported $0.07 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.12) earnings per share. Markwest Energy Partners’s revenue was up 37.3% compared to the same quarter last year. Analysts expect that Markwest Energy Partners will post $1.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Markwest Energy Partners’s previous quarterly dividend of $0.86.
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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