RBC Capital Sets MarkWest Energy Partners Price Target at $59.00 (MWE)
Research analysts at RBC Capital (NYSE: RY) cut their target price on shares of MarkWest Energy Partners (NYSE: MWE) from $65.00 to $59.00 in a report released on Monday. The firm currently has an “outperform” rating on the stock.
Shares of MarkWest Energy Partners opened at 46.30 on Monday. MarkWest Energy Partners has a 52 week low of $39.00 and a 52 week high of $61.60. The company has a market cap of $4.755 billion and a P/E ratio of 26.00.
MarkWest Energy Partners last announced its earnings results on Monday, May 7th. The company reported $20.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $19.44. The company’s quarterly revenue was up 33.2% on a year-over-year basis. On average, analysts predict that MarkWest Energy Partners will post $0.54 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of MarkWest Energy Partners from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, May 22nd. They now have a $62.00 price target on the stock. Finally, analysts at UBS AG (NYSE: UBS) raised their price target on shares of MarkWest Energy Partners from $60.00 to $65.00 in a research note to investors on Friday, March 9th. They now have a “buy” rating on the stock.
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.