Brokerage firm Barclays Assumes its rating on Midcoast Energy Partners LP(NYSE:MEP). The shares have been rated Equal-weight. The rating by Barclays was issued on Apr 12, 2016.
In a different note, Morgan Stanley said it Initiates Coverage on Midcoast Energy Partners LP, according to a research note issued on Feb 25, 2016. The shares have been rated ‘Underweight’ by the firm. On Feb 18, 2016, Barclays said it Maintains its rating on Midcoast Energy Partners LP. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Feb 18, 2016, Credit Suisse said it Downgrades its rating on Midcoast Energy Partners LP. In the research note, the firm Lowers the price-target to $16.00 per share. The shares have been rated ‘Underperform’ by the firm.
Midcoast Energy Partners LP (MEP) made into the market gainers list on Fridays trading session with the shares advancing 3.18% or 0.16 points. Due to strong positive momentum, the stock ended at $5.19, which is also near the day’s high of $5.25. The stock began the session at $4.96 and the volume stood at 1,08,861 shares. The 52-week high of the shares is $15.17 and the 52 week low is $3.764. The company has a current market capitalization of $235 M and it has 4,52,20,112 shares in outstanding.
Midcoast Energy Partners LP(MEP) last announced its earnings results on Feb 16, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $528.10M. Analysts had an estimated revenue of $760.63M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.15.
Several Insider Transactions has been reported to the SEC. On Feb 26, 2016, E Chris Kaitson (Vice President-Law & Asst Sec) purchased 2,250 shares at $3.93 per share price.Also, On Dec 17, 2015, Stephen J Neyland (Vice President – Finance) purchased 3,570 shares at $6.98 per share price.On Dec 17, 2015, David A. Weathers (VP – Business Dev US Midstream) purchased 3,000 shares at $7.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Midcoast Energy Partners L.P. is a natural gas and natural gas liquids (NGL) midstream company operating in the United States. The Company is publicly traded growth-oriented Delaware limited partnership that serves as Enbridge Energy Partners L.P.s (EEPs) primary vehicle for owning and operating its natural gas and NGL midstream business in the United States. The Company operates through two segments: Gathering Processing and Transportation and Logistics and Marketing. The Companys gathering processing and transportation segment is engaged in gathering processing and transporting natural gas and NGL. The logistics and marketing segment primarily markets natural gas NGLs and condensate. The Company owns 51.6% controlling interest in Midcoast Operating L.P. (Midcoast Operating) a Texas limited partnership that owns a network of natural gas and NGL gathering and transportation systems natural gas processing and treating facilities and NGL fractionation facilities.