Access Midstream Partners Hits New 12-Month High After Dividend Announcement (ACMP)
Access Midstream Partners (NASDAQ:ACMP)’s share price reached a new 52-week high on Tuesday after the company announced a dividend, AnalystRatings.NET reports. The stock traded as high as $60.28 and last traded at $59.34, with a volume of 151,335 shares trading hands. The stock had previously closed at $58.38.
The newly announced dividend is scheduled for Thursday, May 15th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 3.94%.
A number of research firms have recently commented on ACMP. Analysts at Jefferies Group reiterated a “buy” rating on shares of Access Midstream Partners in a research note on Thursday, April 17th. They now have a $66.00 price target on the stock. Finally, analysts at Wunderlich upgraded shares of Access Midstream Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. They now have a $64.00 price target on the stock, up previously from $56.00. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $60.53.
The stock has a 50-day moving average of $57.24 and a 200-day moving average of $54.8. The company has a market cap of $11.223 billion and a price-to-earnings ratio of 51.17.
Access Midstream Partners (NASDAQ:ACMP) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.04. The company had revenue of $328.10 million for the quarter, compared to the consensus estimate of $298.47 million. On average, analysts predict that Access Midstream Partners will post $1.73 earnings per share for the current fiscal year.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, LLC. (NASDAQ:ACMP), owns, operates, develops and acquires natural gas, natural gas liquids (NGLs) and oil gathering systems and other midstream energy assets.
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