MarkWest Energy Partners (NYSE:MWE)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday, StockRatingsNetwork reports. They currently have a $73.00 price target on the stock. Zacks‘ price objective points to a potential upside of 4.36% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on units of MarkWest Energy, as we see limited near term price upside. We continue to like MarkWest for its high-quality and diverse portfolio of midstream assets, as well as its proven track record of supporting producers in the growth of shale plays and its steady improvement in its liquidity/cash flow position. However, we think the current valuation is fair and adequately reflects the partnership’s future growth prospects. MarkWest’s core business – natural gas processing – is also faced with a higher degree of commodity price exposure than most MLPs. This is expected to further limit its ability to generate positive earnings surprises. As a result, our long-term total return expectation for MarkWest remains rather muted. “
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of MarkWest Energy Partners in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $86.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of MarkWest Energy Partners from $74.00 to $77.00 in a research note to investors on Wednesday, August 14th. They now have an “overweight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of MarkWest Energy Partners from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. They now have a $81.00 price target on the stock, up previously from $70.00. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. MarkWest Energy Partners has a consensus rating of “Buy” and a consensus price target of $76.10.
MarkWest Energy Partners (NYSE:MWE) traded down 0.06% during mid-day trading on Friday, hitting $69.91. 345,750 shares of the company’s stock traded hands. MarkWest Energy Partners has a one year low of $46.03 and a one year high of $73.96. The stock has a 50-day moving average of $69.76 and a 200-day moving average of $66.81. The company has a market cap of $9.856 billion and a price-to-earnings ratio of 117.96.
MarkWest Energy Partners (NYSE:MWE) last released its earnings data on Wednesday, August 7th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.33. The company had revenue of $415.12 million for the quarter, compared to the consensus estimate of $435.60 million. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that MarkWest Energy Partners will post $1.16 earnings per share for the current fiscal year.
MarkWest Energy Partners, L.P. is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of NGLs, and the gathering and transportation of crude oil.
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