Midcoast Energy Partners Given Equal Weight Rating at Barclays (MEP)
Midcoast Energy Partners (NYSE:MEP)‘s stock had its “equal weight” rating restated by Barclays in a research note issued on Friday. They currently have a $22.00 price target on the stock, down from their previous price target of $23.00. Barclays’ price target would suggest a potential upside of 8.43% from the company’s current price.
Midcoast Energy Partners (NYSE:MEP) traded down 1.09% during mid-day trading on Friday, hitting $20.306. 172,699 shares of the company’s stock traded hands. Midcoast Energy Partners has a 52 week low of $16.96 and a 52 week high of $23.54. The stock’s 50-day moving average is $21.63 and its 200-day moving average is $21.23. The company has a market cap of $918.2 million and a price-to-earnings ratio of 83.80.
The company also recently announced a dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.325 per share. The ex-dividend date is Tuesday, August 5th.
A number of other analysts have also recently weighed in on MEP. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Midcoast Energy Partners in a research note on Thursday, June 5th. They now have a $25.00 price target on the stock, up previously from $23.00. Analysts at Global Hunter Securities initiated coverage on shares of Midcoast Energy Partners in a research note on Tuesday, June 3rd. They set an “accumulate” rating and a $24.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Midcoast Energy Partners has a consensus rating of “Hold” and a consensus target price of $22.86.
Midcoast Energy Partners L.P. is a vehicle for owning and growing its natural gas and natural gas liquids, or natural gas liquid (NYSE:MEP), midstream business in the United States.
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