Markwest Energy Partners Sets New 52-Week High After Analyst Upgrade (MWE)
Markwest Energy Partners (NYSE:MWE) hit a new 52-week high during mid-day trading on Thursday after Wunderlich raised their price target on the stock from $83.00 to $88.00, Analyst Ratings.Net reports. Wunderlich currently has a buy rating on the stock. Markwest Energy Partners traded as high as $78.31 and last traded at $78.04, with a volume of 485,227 shares. The stock had previously closed at $76.27.
MWE has been the subject of a number of other recent research reports. 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $78.55.
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 $13.832 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. On average, analysts predict that Markwest Energy Partners will post $0.77 earnings per share 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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