| Wunderlich Securities Downgrades Markwest Energy Partners LP On Current Valuation | |
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In a report published Monday, Wunderlich Securities analyst Jeff Birnbaum downgraded the rating on Markwest Energy Partners LP (NYSE: MWE) from Buy to Hold, and lowered the price target from $75.00 to $70.00.
In the report, Wunderlich Securities noted, "We are downgrading the units of Markwest Energy Partners (MWE) to Hold from Buy and lowering our price target to $70 from $75. While 4Q results and 2015 guidance on adjusted EBITDA and DCF were better than many had feared, we believe MWE's current valuation fairly reflects the company's reduced nearterm distribution growth outlook. Further, significant uncertainty remains with few near-term catalysts. While we are heartened that some parts of our thesis have materialized in Markwest's revised guidance — its ability to delay capex while taking plant utilization rates higher, more limited fallout in the Marcellus & Utica from E&P capex reductions, increased hedging, and limited 2015 equity needs relative to capex — challenges remain. We currently view the risk/reward as relatively neutral."
Markwest Energy Partners closed on Friday at $64.95.
Latest Ratings for MWE
Date | Firm | Action | From | To |
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Mar 2015 | Wunderlich | Maintains | | Hold | Mar 2015 | Wunderlich | Downgrades | Buy | Hold | Jan 2015 | Citigroup | Maintains | | Buy |
View More Analyst Ratings for MWE
View the Latest Analyst Ratings
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MarkWest Energy Partners LP
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CODE : MWE |
ISIN : US5707591005 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
MarkWest Energy is a and oil exploration company based in United states of america. MarkWest Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 11.1 billions as of today (€ 9.9 billions). Its stock quote reached its lowest recent point on May 01, 2009 at US$ 10.05, and its highest recent level on September 25, 2015 at US$ 48.00. MarkWest Energy has 231 560 000 shares outstanding. |