Markwest Energy Partners Given Average Recommendation of “Buy” by Brokerages (NYSE:MWE)
Markwest Energy Partners (NYSE:MWE) has been given a consensus rating of “Buy” by the fifteen ratings firms that are currently covering the stock, AnalystRatingsNetwork reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $78.00.
Markwest Energy Partners (NYSE:MWE) opened at 76.48 on Thursday. Markwest Energy Partners has a 52-week low of $58.62 and a 52-week high of $76.84. The stock’s 50-day moving average is $72.26 and its 200-day moving average is $67.22. The company’s market cap is $13.539 billion.
Markwest Energy Partners (NYSE:MWE) last announced its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts predict that Markwest Energy Partners will post $0.79 earnings per share for the current fiscal year.
A number of research firms have recently commented on MWE. Analysts at Credit Suisse raised their price target on shares of Markwest Energy Partners from $82.00 to $83.00 in a research note on Monday, August 11th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Markwest Energy Partners from $70.00 to $76.00 in a research note on Monday, August 11th. They now have an “equal weight” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Markwest Energy Partners from $70.00 to $72.00 in a research note on Friday, August 8th.
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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