Insider Selling: Markwest Energy Partners CFO Unloads 10,000 Shares of Stock (MWE)
Markwest Energy Partners (NYSE:MWE) CFO Nancy Buese sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.79, for a total value of $717,900.00. Following the sale, the chief financial officer now directly owns 89,833 shares of the company’s stock, valued at approximately $6,449,111. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Markwest Energy Partners in a research note on Friday. They now have a $82.00 price target on the stock, up previously from $72.00. Separately, analysts at Global Hunter Securities downgraded shares of Markwest Energy Partners from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 23rd. They now have a $79.00 price target on the stock, up previously from $70.00. Finally, analysts at US Capital Advisors initiated coverage on shares of Markwest Energy Partners in a research note on Tuesday, July 22nd. They set a “buy” rating and a $87.00 price target on the stock. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.45.
Shares of Markwest Energy Partners (NYSE:MWE) traded up 0.71% during mid-day trading on Monday, hitting $72.02. 476,262 shares of the company’s stock traded hands. Markwest Energy Partners has a one year low of $58.62 and a one year high of $76.02. The stock has a 50-day moving average of $70.14 and a 200-day moving average of $66.73. The company has a market cap of $11.702 billion and a price-to-earnings ratio of 186.22.
Markwest Energy Partners (NYSE:MWE) last issued its quarterly 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. On average, analysts predict that Markwest Energy Partners will post $0.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, August 1st. This is a positive change from Markwest Energy Partners’s previous quarterly dividend of $0.87.
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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