Atlas Pipeline Partners, L.P. Downgraded by Zacks to “Underperform” (APL)
Atlas Pipeline Partners, L.P. (NYSE:APL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Tuesday, Stock Ratings Network reports. They currently have a $31.40 target price on the stock. Zacks‘ price target indicates a potential downside of 5.08% from the company’s current price.
Shares of Atlas Pipeline Partners, L.P. (NYSE:APL) traded up 0.03% during mid-day trading on Tuesday, hitting $33.0895. The stock had a trading volume of 356,281 shares. Atlas Pipeline Partners, L.P. has a 52 week low of $31.83 and a 52 week high of $40.06. The stock has a 50-day moving average of $33.99 and a 200-day moving average of $36.32. The company’s market cap is $2.631 billion.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 7.50%. The ex-dividend date is Wednesday, February 5th.
A number of other firms have also recently commented on APL. Analysts at Goldman Sachs initiated coverage on shares of Atlas Pipeline Partners, L.P. in a research note on Wednesday, December 11th. They set a “neutral” rating on the stock. Analysts at Barclays cut their price target on shares of Atlas Pipeline Partners, L.P. from $43.00 to $41.00 in a research note on Tuesday, December 10th. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $36.80.
Atlas Pipeline Partners, L.P. is a provider of natural gas gathering services in the Anadarko and Permian Basins located in the southwestern and mid-continent United States and the Appalachian Basin in the eastern United States.
To view Zacks’ full report, visit www.zacks.com
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