Insider Selling: Markwest Energy Partners CAO Unloads 1,500 Shares of Stock (MWE)
Markwest Energy Partners (NYSE:MWE) CAO Paula L. Rosson unloaded 1,500 shares of Markwest Energy Partners stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $64.00, for a total value of $96,000.00. Following the sale, the chief accounting officer now directly owns 19,924 shares in the company, valued at approximately $1,275,136. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Markwest Energy Partners (NYSE:MWE) traded up 2.37% on Friday, hitting $64.79. The stock had a trading volume of 1,084,395 shares. 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 $63.07 and a 200-day moving average of $65.81. The company has a market cap of $10.527 billion and a price-to-earnings ratio of 164.82.
Markwest Energy Partners (NYSE:MWE) last posted its quarterly earnings results 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 $0.88 EPS for the current fiscal year.
A number of research firms have recently commented on MWE. Analysts at Global Hunter Securities initiated coverage on shares of Markwest Energy Partners in a research note on Tuesday. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Markwest Energy Partners from $72.00 to $70.00 in a research note on Friday, May 9th. Finally, 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, May 9th. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.20.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.