Stock of The Day: Could Midcoast Energy Partners LP Decline After Today’s Big Increase?

Stock of The Day: Could Midcoast Energy Partners LP Decline After Today's Big Increase?

The stock of Midcoast Energy Partners LP (NYSE:MEP) is a huge mover today! About 96,949 shares traded hands or 5.19% up from the average. Midcoast Energy Partners LP (NYSE:MEP) has declined 21.12% since April 27, 2016 and is downtrending. It has underperformed by 26.35% the S&P500.
The move comes after 5 months positive chart setup for the $274.46 million company. It was reported on Nov, 30 by Barchart.com. We have $6.51 PT which if reached, will make NYSE:MEP worth $13.72M more.

Analysts await Midcoast Energy Partners LP (NYSE:MEP) to report earnings on February, 21. They expect $-0.17 earnings per share, down 325.00% or $0.13 from last year’s $-0.04 per share. After $-0.25 actual earnings per share reported by Midcoast Energy Partners LP for the previous quarter, Wall Street now forecasts -32.00% EPS growth.

Midcoast Energy Partners LP (NYSE:MEP) Ratings Coverage

Out of 4 analysts covering Midcoast Energy Partners (NYSE:MEP), 0 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 0 are positive. Midcoast Energy Partners has been the topic of 8 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The stock of Midcoast Energy Partners LP (NYSE:MEP) has “Underperform” rating given on Wednesday, November 9 by Credit Suisse. The company was maintained on Thursday, February 18 by Barclays Capital. The firm has “Underperform” rating given on Thursday, February 18 by Credit Suisse. The rating was initiated by Morgan Stanley with “Underweight” on Thursday, February 25. The stock of Midcoast Energy Partners LP (NYSE:MEP) has “Neutral” rating given on Tuesday, May 3 by Credit Suisse.

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 increased to 1.7 in 2016 Q2. Its up 0.95, from 0.75 in 2016Q1. The ratio improved, 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.
Spirit Of America Mngmt Corp Ny holds 141,241 shares or 0.18% of its portfolio. Toronto Dominion Commercial Bank has invested 0% of its portfolio in Midcoast Energy Partners LP (NYSE:MEP). Clearbridge Lc accumulated 2.34 million shares or 0.02% of the stock. Northern last reported 130,500 shares in the company. Moreover, Jacobus Wealth Incorporated has 0.03% invested in Midcoast Energy Partners LP (NYSE:MEP) for 13,000 shares. Citadel Advsrs Ltd Liability accumulated 23,594 shares or 0% of the stock. Walleye Trading Limited last reported 1,900 shares in the company. Cohen And Steers holds 0% or 128,006 shares in its portfolio. The New York-based Jpmorgan Chase And has invested 0% in Midcoast Energy Partners LP (NYSE:MEP). Advisory Svcs Ltd Co has 2,400 shares for 0% of their US portfolio. Fifth Third Bank reported 17,602 shares or 0% of all its holdings. Deutsche Commercial Bank Ag last reported 26 shares in the company. Kayne Anderson Capital Advsr Limited Partnership holds 0.25% or 2.68 million shares in its portfolio. Eagle Advisors Limited Liability Corp last reported 2.64M shares in the company. Royal Natl Bank Of Canada has invested 0% of its portfolio in Midcoast Energy Partners LP (NYSE:MEP).

More important 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 Seekingalpha.com published article titled: “MLP Bottom Fishing 9: Midcoast Energy Partners LP”, Equitiesfocus.com published: “Midcoast Energy Partners, L.P. (NYSE:MEP) Dividend At $0.357 Per Share” on November 29, 2016. More interesting news about Midcoast Energy Partners LP (NYSE:MEP) was released by: Seekingalpha.com and their article: “Midcoast Energy Partners: Recent 20% Gain On Heels Of Pending Enbridge/Spectra …” with publication date: September 19, 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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