Markwest Energy Partners Given Average Recommendation of “Buy” by Brokerages (NYSE:MWE)
Markwest Energy Partners (NYSE:MWE) has received a consensus recommendation of “Buy” from the sixteen brokerages that are covering the company, Stock Ratings Network reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $78.09.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Markwest Energy Partners in a research note on Thursday. They now have a $79.00 price target on the stock. Separately, 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. Finally, 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.
Markwest Energy Partners (NYSE:MWE) opened at 75.52 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 $72.46 and its 200-day moving average is $67.33. The company’s market cap is $13.369 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. Analysts expect that Markwest Energy Partners will post $0.79 EPS for the current fiscal year.
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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