Markwest Energy Partners (MWE) to Release Earnings on Wednesday
Markwest Energy Partners (NYSE:MWE) is set to post its Q214 quarterly earnings results on Wednesday, August 6th. Analysts expect Markwest Energy Partners to post earnings of $0.16 per share and revenue of $553.11 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.
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. On average, analysts expect Markwest Energy Partners to post $0.83 EPS for the current fiscal year and $1.61 EPS for the next fiscal year.
Shares of Markwest Energy Partners (NYSE:MWE) opened at 70.42 on Tuesday. Markwest Energy Partners has a 1-year low of $58.62 and a 1-year high of $76.02. The stock has a 50-day moving average of $70.84 and a 200-day moving average of $66.83. The company has a market cap of $11.442 billion and a P/E ratio of 179.45.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors 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 5.00%. The ex-dividend date is Friday, August 1st. This is an increase from Markwest Energy Partners’s previous quarterly dividend of $0.87.
A number of research firms have recently commented on MWE. Analysts at Wunderlich upgraded shares of Markwest Energy Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, July 29th. They now have a $83.00 price target on the stock, up previously from $68.00. On the ratings front, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Markwest Energy Partners in a research note on Friday, July 25th. They now have a $82.00 price target on the stock, up previously from $72.00. Finally, 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. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Markwest Energy Partners has an average rating of “Buy” and a consensus target price of $75.82.
In other Markwest Energy Partners news, CFO Nancy Buese sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $71.79, for a total transaction of $717,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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