This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

3 Energy Stocks Hitting 52-Week Highs: MarkWest, Western Gas, Plains Exploration

NEW YORK ( TheStreet) -- Shares of these three energy companies reached 52-week highs on Wednesday: MarkWest Energy Partners (MWE), Western Gas Partners (WES - Get Report) and Plains Exploration & Production (PXP).

MarkWest Energy Partners

The natural gas company raised its fourth-quarter dividend 11 cents to 76 cents a share last month.

"MarkWest is well positioned to benefit from many of the long-term trends in natural gas development via its footprint in growing shale plays in the Woodford, Marcellus and east Texas," Wells Fargo analysts wrote in a Feb. 3 report. "We believe MWE's valuation does not fully reflect (1) its secure distribution, (2) solid liquidity position, and (3) long-term distribution growth potential. About 90% of MWE's distribution is tax-deferred."

Shares of MarkWest hit a 52-week high of $59.14 on Wednesday. The stock's 52-week low of $39 was set on Aug. 8.

MarkWest has an estimated forward price-to-earnings ratio for next year of 21.04X; the average for pipeline companies is 57.34X. For comparison, Kinder Morgan Energy (KMP) has a forward P/E of 33.37X and Oneok's (OKE) is 19.83X.

All nine of the analysts who cover the company rated it a buy.

TheStreet Ratings gives MarkWest an A+ grade with a buy rating and has a $76.24 price target on the shares. The stock has risen 7.28% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PXP $0.00 0.00%
MWE $0.00 0.00%
WES $26.67 -3.60%
AAPL $93.65 -0.66%
FB $101.93 0.92%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs