Midcoast Energy Partners, L.P.
MEP
New York Stock Exchange68.18
USD
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Midcoast Energy Partners, L.P.
MEP
(New York Stock Exchange)
Recent
price
68.18
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Midcoast Energy Partners, L.P. (MEP) operates as a master limited partnership focused on natural gas midstream services in the United States. The company owns, operates, and acquires pipelines, storage, and gathering systems; gas processing plants; compression facilities; and fractionation plants primarily serving producer and processor customers in the Northeast, Appalachian, and Midcontinent regions. Its core assets include the Midcoast Operating, Inc. subsidiary, which manages interstate and intrastate natural gas pipelines, natural gas storage facilities, and related infrastructure across Michigan, Ohio, Pennsylvania, and Oklahoma. Headquartered in Houston, Texas, and formed in 2012 through the separation from Spectra Energy Partners, LP (now Enbridge Partners), Midcoast provides fee-based transportation, storage, and gathering services to natural gas producers, marketers, and utilities. The partnership's segments encompass transmission, storage, and gathering & processing, with a focus on stable, long-term contracted revenues from investment-grade counterparties. In recent years, Midcoast underwent significant strategic changes, including its full acquisition by NextEra Energy Partners, LP in 2019 for approximately $1.5 billion, which integrated its assets into NextEra's portfolio and led to delisting from the NYSE. This transaction marked a major consolidation in the midstream sector, enhancing NextEra's position in gas infrastructure while ending MEP's independent public trading status. No major new product launches or partnerships have been announced post-acquisition as of late 2025.
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