Atlas Pipeline Partners, L.P. Downgraded to Underperform at Zacks (APL)
Atlas Pipeline Partners, L.P. (NYSE:APL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Wednesday. They currently have a $32.20 target price on the stock. Zacks‘s price target suggests a potential downside of 6.20% from the stock’s previous close.
Atlas Pipeline Partners, L.P. (NYSE:APL) traded up 1.42% on Wednesday, hitting $34.33. The stock had a trading volume of 246,117 shares. Atlas Pipeline Partners, L.P. has a one year low of $28.88 and a one year high of $40.06. The stock’s 50-day moving average is $33.23 and its 200-day moving average is $32.64. The company’s market cap is $2.768 billion.
Atlas Pipeline Partners, L.P. (NYSE:APL) last announced its earnings results on Monday, May 5th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.03) by $0.07. The company had revenue of $663.13 million for the quarter, compared to the consensus estimate of $615.65 million. Analysts expect that Atlas Pipeline Partners, L.P. will post $-0.17 EPS for the current fiscal year.
Separately, analysts at RBC Capital initiated coverage on shares of Atlas Pipeline Partners, L.P. in a research note on Wednesday, July 2nd. They set a “sector perform” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $36.44.
Atlas Pipeline Partners, L.P. is a provider of natural gas gathering and processing services in the Anadarko and Permian Basins located in the southwestern and mid-continent regions of the United States; a provider of natural gas gathering services in the Appalachian Basin in the northeastern region of the United States and a provider of natural gas liquid (NYSE:APL) transportation services in the southwestern region of the United States.
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