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Midcoast Energy Partners (NYSE:MEP) reached a new 52-week high during trading on Tuesday , Analyst Ratings Network.com reports. The stock traded as high as $23.70 and last traded at $23.24, with a volume of 49,336 shares. The stock had previously closed at $22.50.

A number of research firms have recently commented on MEP. Analysts at Global Hunter Securities cut their price target on shares of Midcoast Energy Partners to $23.00 in a research note on Friday, August 1st. Separately, analysts at Credit Suisse raised their price target on shares of Midcoast Energy Partners from $24.00 to $25.00 in a research note on Friday, August 1st. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Midcoast Energy Partners in a research note on Friday, August 1st. They now have a $22.00 price target on the stock, down previously from $23.00. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $22.86.

The stock has a 50-day moving average of $21.40 and a 200-day moving average of $21.30. The company’s market cap is $1.063 billion.

Midcoast Energy Partners L.P. is a vehicle for owning and growing its natural gas and natural gas liquids, or natural gas liquid (NYSE:MEP), midstream business in the United States.

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