Stifel Nicolaus Increases Markwest Energy Partners Price Target to $76.00 (MWE)
Equities research analysts at Stifel Nicolaus increased their price target on shares of Markwest Energy Partners (NYSE:MWE) from $72.00 to $76.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.16% from the company’s current price.
Shares of Markwest Energy Partners (NYSE:MWE) opened at 69.62 on Friday. Markwest Energy Partners has a 52 week low of $58.62 and a 52 week high of $76.02. The stock has a 50-day moving average of $70.96 and a 200-day moving average of $66.87. The company’s market cap is $10.998 billion.
Markwest Energy Partners (NYSE:MWE) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.16 by $0.11. The company had revenue of $518.40 million for the quarter, compared to the consensus estimate of $553.11 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Analysts expect that Markwest Energy Partners will post $0.81 EPS 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 5.06%. The ex-dividend date is Friday, August 1st. This is a positive change from Markwest Energy Partners’s previous quarterly dividend of $0.87.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $77.10.
In other Markwest Energy Partners news, CFO Nancy Buese sold 10,000 shares of Markwest Energy Partners stock on the open market in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.79, for a total value of $717,900.00. The transaction was disclosed in a document filed 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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