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Last $64.63 USD
Change Today +0.18 / 0.28%
Volume 682.4K
MWE On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

markwest energy partners lp (MWE) Snapshot

Open
$64.28
Previous Close
$64.45
Day High
$65.20
Day Low
$64.03
52 Week High
09/2/14 - $80.79
52 Week Low
01/13/15 - $54.04
Market Cap
12.8B
Average Volume 10 Days
591.3K
EPS TTM
$0.69
Shares Outstanding
186.8M
EX-Date
05/5/15
P/E TM
94.3x
Dividend
$3.64
Dividend Yield
5.54%
Current Stock Chart for MARKWEST ENERGY PARTNERS LP (MWE)

markwest energy partners lp (MWE) Related Businessweek News

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markwest energy partners lp (MWE) Details

MarkWest Energy Partners, L.P. engages in the gathering, processing, and transportation of natural gas. The company is also involved in the gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and the gathering and transportation of crude oil. It has presence in various natural gas resource plays, including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale, and Granite Wash formation. MarkWest Energy GP, L.L.C. serves as the general partner of the company. MarkWest Energy Partners, L.P. was founded in 1988 and is headquartered in Denver, Colorado.

1,404 Employees
Last Reported Date: 02/25/15
Founded in 1988

markwest energy partners lp (MWE) Top Compensated Officers

Chairman of MarkWest Energy GP LLC, Chief Exe...
Total Annual Compensation: $607.1K
Chief Financial Officer of Markwest Energy GP...
Total Annual Compensation: $398.1K
Chief Operations Officer of MarkWest Energy G...
Total Annual Compensation: $434.0K
Chief Commercial Officer of MarkWest Energy G...
Total Annual Compensation: $434.0K
Chief Legal Officer of Markwest Energy GP LLC...
Total Annual Compensation: $398.1K
Compensation as of Fiscal Year 2014.

markwest energy partners lp (MWE) Key Developments

MarkWest Energy Partners, L.P. Enter into Eighth Amendment to the Amended and Restated Credit Agreement with Wells Fargo Bank

On May 28, 2015, MarkWest Energy Partners, L.P. entered into the eighth amendment to the amended and restated credit agreement with Wells Fargo Bank, National Association as Administrative Agent and Collateral Agent, and the other agents and lenders that are party thereto, which amends the amended and restated credit agreement dated as of July 1, 2010, among the Agent, the other agents and lenders that are party thereto from time to time and the Partnership, as supplemented by the Joinder Agreement dated July 29, 2010 and the Joinder Agreement dated June 15, 2011, and as amended by the first amendment to amended and restated credit agreement dated September 7, 2011, the second amendment to amended and restated credit agreement dated December 29, 2011, the third amendment to amended and restated credit agreement dated June 29, 2012, the fourth amendment to amended and restated credit agreement dated December 20, 2012, the fifth amendment to amended and restated credit agreement dated December 11, 2013, the new lender agreement and sixth amendment to the amended and restated credit agreement dated March 20, 2014, and the seventh amendment to amended and restated credit agreement dated February 3, 2015. The credit agreement amendment amends the existing credit agreement to provide that, for the quarter ended June 30, 2015, for purposes of calculating the Partnership's Total Leverage Ratio, the outstanding principal amount of obligations and liabilities for borrowed money that will be included within the Partnership's consolidated funded debt will include the outstanding amount of all of the Partnership's senior unsecured notes minus the excess of (x) the net cash proceeds expected to be received by the Partnership from the senior notes due 2025 expected to be issued by the Partnership minus (y) the principal amount of the Partnership's 6.75% senior notes due 2020, 6.5% senior notes due 2021 and 6.25% senior notes due 2022 tendered by the holders thereof to the Partnership for payment in full substantially contemporaneously with, or promptly following, the issuance of the Partnership's senior notes due 2025.

MarkWest Energy Partners, L.P. Announces Tender Offers for its 6.75% Senior Notes Due 2020, 6.5% Senior Notes Due 2021 and 6.25% Senior Notes Due 2022

MarkWest Energy Partners, L.P. announced that it has commenced three concurrent cash tender offers to purchase any and all of the senior notes: 6.75% Senior Notes due 2020; 6.5% Senior Notes due 2021; and 6.25% Senior Notes due 2022, at the cash purchase prices: $1,058.14; $1,072.38; and $1,111.63 respectively. Holders whose notes are purchased will also receive accrued and unpaid interest thereon from the applicable last interest payment date up to, but not including, the initial settlement date. The offers are being made pursuant to an Offer to Purchase dated today, a related Letter of Transmittal and a related Notice of Guaranteed Delivery, which set forth the complete terms and conditions of the offers. Each offer will expire at 5:00 p.m. New York City Time on June 3, 2015, unless extended (the Expiration Time). Holders of notes must validly tender and not validly withdraw their notes (or comply with the procedures for guaranteed late delivery) before the Expiration Time to be eligible to receive the consideration for each series of notes. Settlement for notes tendered prior to the Expiration Time and accepted for purchase will occur promptly after the Expiration Time, which is expected to be June 4, 2015, assuming that the offers are not extended or earlier terminated. The settlement date for any notes tendered pursuant to a Notice of Guaranteed Delivery is expected to be on June 8, 2015, subject to the same assumption. The offer for each series of notes is conditioned upon the satisfaction of certain conditions, including the completion of a contemporaneous notes offering by MarkWest on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to MarkWest. No offer is conditioned upon any minimum amount of notes being tendered or the consummation of any other offer. Each offer may be amended, extended, terminated or withdrawn separately. MarkWest has retained Wells Fargo Securities, LLC to serve as the exclusive Dealer Manager for the offers.

MarkWest Energy Partners, L.P. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015 and Capital Expenditure Guidance for the Year 2016

MarkWest Energy Partners, L.P. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of USD 467.330 million compared to USD 512.476 million a year ago. Income from operations was USD 52.532 million compared to USD 72.001 million a year ago. Income before provision for income tax was USD 1.400 million compared to USD 28.462 million a year ago. Net income was USD 5.521 million compared to USD 15.916 million a year ago. Net loss attributable to the company’s unitholders was USD 9.083 million compared to net income attributable to the company’s unit holders of USD 12.492 million a year ago. Diluted loss per share was USD 0.05 compared to diluted income per share of USD 0.07 a year ago. Net cash flow provided by operating activities was USD 200.934 million compared to USD 112.373 million a year ago. Adjusted EBITDA was USD 229.655 million compared to USD 187.567 million a year ago. Maintenance capital expenditures were USD 2.571 million compared to USD 2.746 million a year ago. Total capital expenditures were USD 539.149 million compared to USD 587.120 million a year ago. Net cash provided by operating activities was USD 200.934 million compared to USD 112.373 million a year ago. For 2015, the company's Adjusted EBITDA forecast remains in a range of USD 925 million to USD 1,025 million and DCF remains in a range of USD 700 million to USD 800 million based on its current forecast of operational volumes and prices for natural gas liquids, crude oil, natural gas, and derivative instruments currently outstanding. 2015 capital expenditure forecast remains unchanged in a range of USD 1.5 billion to USD 1.9 billion. The company forecast total processed volumes in 2015 will exceed 5 billion cubic feet per day. 2016 capital expenditure forecast remains unchanged at approximately USD 1.5 billion.

 

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Industry Analysis

MWE

Industry Average

Valuation MWE Industry Range
Price/Earnings 100.0x
Price/Sales 5.8x
Price/Book 2.4x
Price/Cash Flow 20.7x
TEV/Sales 3.5x
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