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Zacks Investment Research announced Midcoast Energy Partners LP (NYSE:MEP), bumping up its stock price target to $9.50 today

Just yesterday Midcoast Energy Partners LP (NYSE:MEP) traded 2.42% higher at $8.58. Midcoast Energy Partners LP’s 50-day moving average is $8.37 and its 200-day moving average is $7.74. The last closing price is up 9.41% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 58,801 shares of MEP traded hands, down from an average trading volume of 104,066

In a report released on Wednesday October 12, 2016 Zacks Investment Research increased the stock price target of Midcoast Energy Partners LP (NYSE:MEP) to $9.50 reporting a possible upside of 0.11%.

Recent Performance Chart

Midcoast Energy Partners LP (NYSE:MEP)

Midcoast Energy Partners LP has 52 week low of $3.76 and a 52 week high of $13.58 and has a market capitalization of $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 6 brokers have issued a research note on the company. The average stock price target is $5.58 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 4 brokers rating the stock a hold, 4 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Midcoast Energy Partners LP (NYSE:MEP)

Midcoast Energy Partners, L.P. is a limited partnership that serves as Enbridge Energy Partners, L.P.'s primary vehicle for owning and operating its natural gas and natural gas liquids (NGLs) midstream business in the United States. The Company operates through two segments: Gathering, Processing and Transportation, and Logistics and Marketing. Its gathering, processing and transportation business includes natural gas and NGL gathering and transportation pipeline systems, natural gas processing and treating facilities, condensate stabilizers and an NGL fractionation facility. Its logistics and marketing business provides marketing services of natural gas, NGLs and condensate received from its gathering, processing and transportation business. Its physical assets consist of over 200 transport trucks, approximately 370 trailers and over 200 railcars for transporting NGLs; TexPan liquids railcar facility near Pampa, Texas, and Petal truck and rail facility near Hattiesburg, Mississippi.

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