Access Midstream Partners (ACMP) Posts Quarterly Earnings, Misses Expectations By $0.12 EPS
Access Midstream Partners (NYSE:ACMP) announced its earnings results on Tuesday. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.12, AmericanBankingNews.com reports. The company had revenue of $292.90 million for the quarter, compared to the consensus estimate of $300.59 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis.
Access Midstream Partners (NYSE:ACMP) traded down 0.27% during mid-day trading on Tuesday, hitting $62.25. The stock had a trading volume of 1,044,699 shares. Access Midstream Partners has a one year low of $44.75 and a one year high of $66.71. The stock’s 50-day moving average is $63.12 and its 200-day moving average is $59.16. The company has a market cap of $11.799 billion and a P/E ratio of 57.69.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Tuesday, August 5th. This is an increase from Access Midstream Partners’s previous quarterly dividend of $0.58.
ACMP has been the subject of a number of recent research reports. Analysts at Ladenburg Thalmann upgraded shares of Access Midstream Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 9th. They now have a $69.00 price target on the stock. On a related note, analysts at Citigroup Inc. initiated coverage on shares of Access Midstream Partners in a research note on Monday, June 23rd. They set a “buy” rating and a $69.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Access Midstream Partners from $64.00 to $69.00 in a research note on Thursday, June 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Access Midstream Partners currently has a consensus rating of “Buy” and a consensus price target of $67.89.
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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