Access Midstream Partners LP Price Target Raised to $62.00 at Deutsche Bank (ACMP)
Deutsche Bank raised their price target on shares of Access Midstream Partners LP (NASDAQ:ACMP) from $57.00 to $62.00 in a research note issued on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target indicates a potential upside of 20.86% from the company’s current price.
Access Midstream Partners LP (NASDAQ:ACMP) traded up 1.70% during mid-day trading on Wednesday, hitting $52.17. 204,868 shares of the company’s stock traded hands. Access Midstream Partners LP has a 1-year low of $30.08 and a 1-year high of $49.29. The stock’s 50-day moving average is $46.75 and its 200-day moving average is $43.9. The company has a market cap of $9.224 billion and a price-to-earnings ratio of 46.09.
Access Midstream Partners LP (NASDAQ:ACMP) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.11. The company had revenue of $260.90 million for the quarter, compared to the consensus estimate of $258.71 million. The company’s revenue for the quarter was up 67.1% 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.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.54 per share. This represents a $2.14 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a positive change from Access Midstream Partners LP’s previous quarterly dividend of $0.49.
A number of other analysts have also recently weighed in on ACMP. Analysts at Jefferies Group initiated coverage on shares of Access Midstream Partners LP in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $57.00 price target on the stock. Separately, analysts at UBS AG reiterated a “buy” rating on shares of Access Midstream Partners LP in a research note to investors on Thursday, August 22nd. They now have a $43.00 price target on the stock. Finally, analysts at Ladenburg Thalmann reiterated a “buy” rating on shares of Access Midstream Partners LP in a research note to investors on Thursday, August 22nd. They now have a $52.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $51.10.
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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