Stock Update (NYSE:EMES): Emerge Energy Services LP Declares Fourth Quarter Cash Distribution and Announces Date for Earnings Release
Southlake, Texas – January 23, 2015 – Emerge Energy Services LP (“Emerge Energy”) today announced that the board of directors of its general partner has declared a cash distribution of $1.41 for the fourth quarter of 2014. This distribution represents a 2% increase over the third quarter 2014 distribution of $1.38 per unit and a 41% increase over the fourth quarter 2013 distribution of $1.00 per unit. The distribution will be paid on February 13, 2015 to all unitholders of record as of February 5, 2015. Based on current market conditions, Emerge Energy is also revising its full year distribution guidance for the year ending December 31, 2015 to $5.25 to $6.00 per unit. Emerge En… Read more »
Shares of Emerge Energy Services closed yesterday at $56.99 . EMES has a 1-year high of $145.72 and a 1-year low of $39.90. The stock’s 50-day moving average is $53.37 and it’s 200-day moving average is $90.74.
On the ratings front, Emerge Energy Services has been the subject of a number of recent research reports. In a report published on December 5, analyst Ethan Bellamy from Robert W. Baird upgraded EMES to Buy. Separately, on December 3, Wunderlich Securities’ Abhishek Sinha reiterated a Buy rating on Emerge Energy Services shares and has a price target of $100.
In total, one research analyst has assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $56.99 which is 67.9% above where the stock closed yesterday.
Emerge Energy Services LP is engaged in the ownership, operation, and acquisition and development of a energy service assets. Its business is segmented into two – Sand segment and Fuel segment.