Markwest Energy Partners EVP Sells $121,584 in Stock (MWE)
Markwest Energy Partners (NYSE:MWE) EVP Randy S. Nickerson sold 1,700 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $71.52, for a total value of $121,584.00. Following the completion of the transaction, the executive vice president now directly owns 220,609 shares in the company, valued at approximately $15,777,956. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Markwest Energy Partners (NYSE:MWE) traded down 0.59% during mid-day trading on Thursday, hitting $72.11. The stock had a trading volume of 434,414 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 $65.45 and a 200-day moving average of $65.90. The company has a market cap of $11.717 billion and a P/E ratio of 188.91.
Markwest Energy Partners (NYSE:MWE) last announced its earnings results on Wednesday, May 7th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 37.3% on a year-over-year basis. Analysts expect that Markwest Energy Partners will post $0.88 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Markwest Energy Partners in a research note on Friday, June 27th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Markwest Energy Partners in a research note on Monday, June 23rd. They now have a $72.00 price target on the stock, up previously from $71.00. Finally, analysts at Global Hunter Securities initiated coverage on shares of Markwest Energy Partners in a research note on Tuesday, June 3rd. They set a “buy” rating and a $70.00 price target on the stock. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $71.30.
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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