Access Midstream Partners LP Rating Reiterated by UBS AG (ACMP)
Access Midstream Partners LP (NASDAQ:ACMP)‘s stock had its “buy” rating restated by equities researchers at UBS AG in a research report issued on Thursday, American Banking and Market News reports. They currently have a $43.00 price target on the stock. UBS AG’s target price would suggest a potential downside of 7.07% from the stock’s previous close.
Access Midstream Partners LP (NASDAQ:ACMP) traded down 1.13% on Thursday, hitting $46.27. The stock had a trading volume of 221,972 shares. Access Midstream Partners LP has a 52-week low of $29.21 and a 52-week high of $49.29. The stock’s 50-day moving average is $47.17 and its 200-day moving average is $42.97. The company has a market cap of $8.181 billion and a price-to-earnings ratio of 42.05.
Access Midstream Partners LP (NASDAQ:ACMP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.03. The company had revenue of $247.20 million for the quarter, compared to the consensus estimate of $248.35 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 65.6% on a year-over-year basis. On average, analysts predict that Access Midstream Partners LP will post $1.29 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ACMP. Analysts at Ladenburg Thalmann reiterated a “buy” rating on shares of Access Midstream Partners LP in a research note to investors on Thursday. They now have a $52.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Access Midstream Partners LP from $47.00 to $54.00 in a research note to investors on Friday, August 2nd. They now have an “overweight” rating on the stock.
Eleven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $49.89.
In other Access Midstream Partners LP news, CEO J Michael Stice purchased 6,600 shares of Access Midstream Partners LP stock in a transaction that occured on Tuesday, August 20th. The shares were purchased at an average cost of $45.71 per share, with a total value of $301,686.00. Following the completion of the transaction, the chief executive officer now directly owns 44,065 shares in the company. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, L.P., is a midstream natural gas services provider with operations focused on owning, operating, developing and acquiring midstream energy assets in the United States.
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