Shares of Midcoast Energy Partners LP (NYSE:MEP) saw unusually-strong trading volume on Monday . Approximately 168,682 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 118,257 shares.The stock last traded at $8.13 and had previously closed at $8.99.

A number of equities analysts recently issued reports on MEP shares. Zacks Investment Research lowered Midcoast Energy Partners from a “buy” rating to a “hold” rating in a report on Saturday, April 2nd. Barclays PLC initiated coverage on Midcoast Energy Partners in a research note on Wednesday, April 13th. They set an “equal weight” rating and a $7.00 price target for the company. Finally, Credit Suisse Group AG raised Midcoast Energy Partners from an “underperform” rating to a “neutral” rating and increased their price target for the company from $5.00 to $6.00 in a research note on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.85.

The stock’s market capitalization is $367.64 million. The stock’s 50-day moving average price is $8.62 and its 200 day moving average price is $6.85.

Midcoast Energy Partners (NYSE:MEP) last announced its earnings results on Monday, May 2nd. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.15. The firm had revenue of $431.90 million for the quarter, compared to the consensus estimate of $693.42 million. During the same period in the prior year, the business earned ($0.06) EPS. Midcoast Energy Partners’s quarterly revenue was down 50.6% on a year-over-year basis. On average, equities research analysts predict that Midcoast Energy Partners LP will post ($1.41) earnings per share for the current year.

A hedge fund recently raised its stake in Midcoast Energy Partners stock. Kayne Anderson Capital Advisors LP boosted its position in Midcoast Energy Partners LP (NYSE:MEP) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,001,873 shares of the company’s stock after buying an additional 256,501 shares during the period. Kayne Anderson Capital Advisors LP owned 6.64% of Midcoast Energy Partners worth $29,176,000 as of its most recent SEC filing.

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 (NGLs) midstream business in the United States. The Company operates through two segments: Gathering, Processing and Transportation, and Logistics and Marketing.

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