Access Midstream Partners Receives “Buy” Rating from Deutsche Bank (ACMP)
Access Midstream Partners (NYSE:ACMP)‘s stock had its “buy” rating restated by research analysts at Deutsche Bank in a report released on Monday. They currently have a $70.00 price target on the stock, up from their previous price target of $68.00. Deutsche Bank’s price target suggests a potential upside of 7.10% from the company’s current price.
Shares of Access Midstream Partners (NYSE:ACMP) traded up 0.38% during mid-day trading on Monday, hitting $65.61. The stock had a trading volume of 1,009,025 shares. Access Midstream Partners has a 52-week low of $44.39 and a 52-week high of $65.57. The stock has a 50-day moving average of $60.97 and a 200-day moving average of $57.09. The company has a market cap of $12.436 billion and a P/E ratio of 60.41.
Access Midstream Partners (NYSE:ACMP) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.17. The company had revenue of $277.07 million for the quarter, compared to the consensus estimate of $284.45 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Analysts expect that Access Midstream Partners will post $1.62 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ACMP. Analysts at Bank of America downgraded shares of Access Midstream Partners from a “buy” rating to a “neutral” rating in a research note on Monday. They now have a $65.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Access Midstream Partners from $67.00 to $75.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Access Midstream Partners in a research note on Thursday, May 1st. They now have a $64.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Access Midstream Partners has an average rating of “Buy” and a consensus target price of $65.38.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, LLC. (NYSE: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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