Zacks Investment Research downgraded Midcoast Energy Partners LP (NYSE:MEP) to Hold in a report released today.
- Updated: September 28, 2016
Yesterday Midcoast Energy Partners LP (NYSE:MEP) traded 3.28% higher at $8.57. The company’s 50-day moving average is $8.11 and its 200-day moving average is $7.46. The last stock close price is up 14.05% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 73,730 shares of the stock were exchanged, down from an average trading volume of 113,498
Zacks Investment Research has downgraded Midcoast Energy Partners LP (NYSE:MEP) to Hold in a report released on Thursday September 29, 2016.
Previously on 5/03/2016, Credit Suisse reported about Midcoast Energy Partners LP (NYSE:MEP) raised the target price from $5.00 to $6.00. At the time, this indicated a possible downside of -0.12%.
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Midcoast Energy Partners LP has a 52 week low of $3.76 and a 52 week high of $13.58 MEP’s total market value is presently $0.
A total of 6 equity analysts have released a research note on MEP. zero equity analysts rating the company a strong buy, zero equity analysts rating the company a buy, four equity analysts rating the company a hold, four equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $5.58.
More About 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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