Midcoast Energy Partners, L.P. ( MEP ) saw a big move last session, as the company's shares fell by almost 17% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MEP, as the stock is now down nearly 31% in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as the oil refining and marketing company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
MEP currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the same sector include Murphy USA Inc. ( MUSA ), Braskem S.A. ( BAK ), each with a Zacks Rank #1 (Strong Buy) and Sprague Resources LP ( SRLP ) holding a Zacks Rank #2 (Buy).
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