Sentiment for Midcoast Energy Partners LP (NYSE:MEP)
Midcoast Energy Partners LP (NYSE:MEP) institutional sentiment increased to 1 in 2015 Q3. Its up 0.16, from 0.84 in 2015Q2. The ratio has increased, as 16 funds started new and increased stock positions, while 19 sold and decreased their holdings in Midcoast Energy Partners LP. The funds in our partner’s database now have: 14.40 million shares, down from 15.07 million shares in 2015Q2. Also, the number of funds holding Midcoast Energy Partners LP in their top 10 stock positions was flat from 0 to 0 for the same number . Sold All: 9 Reduced: 10 Increased: 10 New Position: 6.
Midcoast Energy Partners, L.P. is a natural gas and natural gas liquids midstream firm operating in the United States. The company has a market cap of $225.14 million. The Firm is publicly traded growth-oriented Delaware limited partnership that serves as Enbridge Energy Partners, L.P.’s (EEP’s) primary vehicle for owning and operating its natural gas and NGL midstream business in the United States. It currently has negative earnings. The Firm operates through two divisions: Gathering, Processing and Transportation, and Logistics and Marketing.
About 46,725 shares traded hands. Midcoast Energy Partners LP (NYSE:MEP) has declined 57.71% since September 3, 2015 and is downtrending. It has underperformed by 62.37% the S&P500.
Analysts await Midcoast Energy Partners LP (NYSE:MEP) to reports earnings on May, 4. They expect $-0.17 EPS, down 183.33% or $0.11 from last year’s $-0.06 per share. After $-0.04 actual EPS reported by Midcoast Energy Partners LP for the previous quarter, Wall Street now forecasts 325.00% negative EPS growth.
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.”
Eagle Global Advisors Llc holds 0.86% of its portfolio in Midcoast Energy Partners LP for 2.70 million shares. Greenwich Investment Management Inc. owns 62,470 shares or 0.64% of their US portfolio. Moreover, Spirit Of America Management Corp Ny has 0.4% invested in the company for 200,742 shares. The California-based Kayne Anderson Capital Advisors Lp has invested 0.27% in the stock. Summit Asset Management Llc, a Tennessee-based fund reported 10,000 shares.#img1#
Ratings analysis reveals 0% of Midcoast Energy Partners’s analysts are positive. Out of 6 Wall Street analysts rating Midcoast Energy Partners, 0 give it “Buy”, 4 “Sell” rating, while 4 recommend “Hold”. The lowest target is $4 while the high is $7.5. The stock’s average target of $5.5 is 47.06% above today’s ($4.93) share price. MEP was included in 6 notes of analysts from September 11, 2015. Morgan Stanley initiated the shares of Midcoast Energy Partners in a note on February 25 with “Underweight” rating. Credit Suisse downgraded Midcoast Energy Partners’s stock on February 18 to “Underperform” rating.
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