Midcoast Energy Partners, L.P. (NYSE:MEP) is expected to pay $0.36 on Nov 14, 2016. The indicated annual dividend is $1.43. Shareholders owning the stock before Nov 3, 2016 will be eligible to receive the payout. Based on Midcoast Energy Partners, L.P.’s current price of $7.65, the dividend is 4.67%. This dividend’s record date is Nov 7, 2016 and the announcement date is Nov 1, 2016. The stock closed at $7.65 during the last session. It is down 48.83% since March 31, 2016 and is uptrending. It has outperformed by 46.31% the S&P500.
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 midstream business in the United States. The company has a market cap of $348.44 million. The Firm operates through two divisions: Gathering, Processing and Transportation, and Logistics and Marketing. It currently has negative earnings. The Company’s 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.
Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q2. Its down 0.43, from 1.18 in 2016Q1. The ratio dropped, as 5 funds sold all Midcoast Energy Partners LP shares owned while 11 reduced positions. 6 funds bought stakes while 6 increased positions. They now own 14.73 million shares or 1.87% less from 15.01 million shares in 2016Q1.
Royal Bancorp Of Canada holds 90,800 shares or 0% of its portfolio. Morgan Stanley reported 107,926 shares or 0% of all its holdings. Nuveen Asset Management Ltd Liability holds 0% or 52,082 shares in its portfolio. Toronto Dominion Commercial Bank reported 2,209 shares or 0% of all its holdings. Deutsche Comml Bank Ag holds 0% of its portfolio in Midcoast Energy Partners LP (NYSE:MEP) for 26 shares. Clearbridge Invs Ltd Liability holds 0.02% of its portfolio in Midcoast Energy Partners LP (NYSE:MEP) for 2.34M shares. Cohen & Steers Inc accumulated 128,006 shares or 0% of the stock. Eagle Glob Advisors Ltd Liability Company has 0.66% invested in the company for 2.64M shares. Bancorp Of America De accumulated 2,000 shares or 0% of the stock. Advisory Serv Net Ltd Liability Co has 0% invested in the company for 2,400 shares. Gsa Cap Prtnrs Llp, a United Kingdom-based fund reported 91,829 shares. Jacobus Wealth Inc reported 13,000 shares or 0.03% of all its holdings. Davenport And Co Lc holds 0% or 18,800 shares in its portfolio. Creative Planning accumulated 0% or 11,000 shares. Spirit Of America Management Corp Ny holds 0.18% or 141,241 shares in its portfolio.
Midcoast Energy Partners LP (NYSE:MEP) Ratings Coverage
Out of 4 analysts covering Midcoast Energy Partners (NYSE:MEP), 0 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 0 are positive. Midcoast Energy Partners has been the topic of 7 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The stock of Midcoast Energy Partners LP (NYSE:MEP) has “Underperform” rating given on Thursday, February 18 by Credit Suisse. The rating was maintained by Barclays Capital on Thursday, February 18 with “Equal-Weight”. As per Tuesday, May 3, the company rating was upgraded by Credit Suisse. As per Thursday, February 25, the company rating was initiated by Morgan Stanley.
More notable recent Midcoast Energy Partners LP (NYSE:MEP) news were published by: Fool.com which released: “This is What Fueled Midcoast Energy Partners LP’s 17.3% Surge in May” on June 07, 2016, also Marketwired.com with their article: “Midcoast Energy Partners, L.P. Reports Earnings for Third Quarter 2016” published on October 31, 2016, Seekingalpha.com published: “MLP Bottom Fishing 9: Midcoast Energy Partners LP” on May 09, 2016. More interesting news about Midcoast Energy Partners LP (NYSE:MEP) were released by: Seekingalpha.com and their article: “Midcoast Energy Partners’ (MEP) Management on Q2 2016 Results – Earnings Call …” published on July 29, 2016 as well as Seekingalpha.com‘s news article titled: “Midcoast Energy Partners’ (MEP) Q1 2016 Results – Earnings Call Transcript” with publication date: May 02, 2016.
MEP Company Profile
Midcoast Energy Partners, L.P., incorporated on May 30, 2013, is a limited partnership that serves as Enbridge Energy Partners, L.P.’s (EEP’s) primary vehicle for owning and operating its natural gas and natural gas liquids (NGLs) midstream business in the United States. The Firm operates through two divisions: Gathering, Processing and Transportation, and Logistics and Marketing. The Firm also provides marketing services of natural gas and NGLs to wholesale customers.
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