Markwest Energy Partners Price Target Raised to $88.00 at Wunderlich (MWE)
Research analysts at Wunderlich boosted their price objective on shares of Markwest Energy Partners (NYSE:MWE) from $83.00 to $88.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Wunderlich’s target price indicates a potential upside of 15.38% from the stock’s previous close.
Shares of Markwest Energy Partners (NYSE:MWE) traded up 1.17% on Thursday, hitting $77.16. 60,615 shares of the company’s stock traded hands. Markwest Energy Partners has a 1-year low of $58.62 and a 1-year high of $76.84. The stock has a 50-day moving average of $72.83 and a 200-day moving average of $67.48. The company’s market cap is $13.659 billion.
Markwest Energy Partners (NYSE:MWE) last issued its quarterly earnings data 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 $0.77 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Markwest Energy Partners in a research note on Thursday, August 21st. 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. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Markwest Energy Partners has an average rating of “Buy” and a consensus target price of $78.55.
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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