The stock of Midcoast Energy Partners LP (NYSE:MEP) is a huge mover today! About 134,033 shares traded hands or 77.02% up from the average. Midcoast Energy Partners LP (NYSE:MEP) has risen 42.24% since April 5, 2016 and is uptrending. It has outperformed by 40.29% the S&P500.
The move comes after 6 months positive chart setup for the $314.83M company. It was reported on Nov, 7 by Barchart.com. We have $18.02 PT which if reached, will make NYSE:MEP worth $478.54 million more.
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) earned “Neutral” rating by Credit Suisse on Tuesday, May 3. The stock of Midcoast Energy Partners LP (NYSE:MEP) has “Equal-Weight” rating given on Thursday, February 18 by Barclays Capital. Credit Suisse downgraded the stock to “Underperform” rating in Thursday, February 18 report. The firm has “Underweight” rating given on Thursday, February 25 by Morgan Stanley.
According to Zacks Investment Research, “Midcoast Energy Partners, L.P. engages in providing natural gas services. It focuses on gathering, processing, treating, transporting, and marketing natural gas and natural gas liquids to intrastate and interstate pipelines for transportation. The Company operates in two segments: gathering, processing and transportation and logistics and marketing. Midcoast Energy Partners, L.P. is based in Houston, Texas.”
Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.43, from 1.18 in 2016Q1. The ratio is negative, 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.
Cohen Steers Inc has 0% invested in the company for 128,006 shares. Advisory Svcs Networks Lc has 2,400 shares for 0% of their US portfolio. Morgan Stanley holds 107,926 shares or 0% of its portfolio. Bank & Trust Of America De holds 0% or 2,000 shares in its portfolio. Fifth Third National Bank last reported 17,602 shares in the company. Wells Fargo And Company Mn has invested 0% of its portfolio in Midcoast Energy Partners LP (NYSE:MEP). Davenport And Ltd Llc accumulated 18,800 shares or 0% of the stock. The Illinois-based Northern has invested 0% in Midcoast Energy Partners LP (NYSE:MEP). Walleye Trading Limited Liability Corp reported 1,900 shares or 0% of all its holdings. Moreover, Susquehanna International Group Inc Ltd Liability Partnership has 0% invested in Midcoast Energy Partners LP (NYSE:MEP) for 49,239 shares. Tower Capital Limited Liability (Trc) has 0% invested in the company for 200 shares. Creative Planning last reported 11,000 shares in the company. Guggenheim Limited Liability Company last reported 108,341 shares in the company. Salient Cap Advsrs Ltd Limited Liability Company has 0.04% invested in the company for 197,951 shares. Royal Retail Bank Of Canada, a Ontario – Canada-based fund reported 90,800 shares.
More news for Midcoast Energy Partners LP (NYSE:MEP) were recently published by: Fool.com, which released: “This is What Fueled Midcoast Energy Partners LP’s 17.3% Surge in May” on June 07, 2016. Seekingalpha.com‘s article titled: “MLP Bottom Fishing 9: Midcoast Energy Partners LP” and published on May 09, 2016 is yet another important article.
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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