Midcoast Energy Partners Given New $25.00 Price Target at Credit Suisse (MEP)
Investment analysts at Credit Suisse boosted their price target on shares of Midcoast Energy Partners (NYSE:MEP) from $24.00 to $25.00 in a note issued to investors on Friday. Credit Suisse’s price objective points to a potential upside of 23.21% from the stock’s previous close.
Midcoast Energy Partners (NYSE:MEP) traded up 0.88% on Friday, hitting $20.71. The stock had a trading volume of 237,005 shares. Midcoast Energy Partners has a one year low of $16.96 and a one year high of $23.54. The stock’s 50-day moving average is $21.63 and its 200-day moving average is $21.24. The company has a market cap of $936.5 million and a price-to-earnings ratio of 83.80.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a boost from Midcoast Energy Partners’s previous quarterly dividend of $0.31.
Several other analysts have also recently commented on the stock. Analysts at Barclays reiterated an “equal weight” rating on shares of Midcoast Energy Partners in a research note on Friday. They now have a $22.00 price target on the stock, down previously from $23.00. Finally, 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently 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.
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.