Access Midstream Partners Given Consensus Recommendation of “Buy” by Analysts (NYSE:ACMP)
Shares of Access Midstream Partners (NYSE:ACMP) have earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Analyst Ratings Net reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $68.44.
Shares of Access Midstream Partners (NYSE:ACMP) opened at 60.22 on Monday. Access Midstream Partners has a 52 week low of $44.75 and a 52 week high of $66.71. The stock’s 50-day moving average is $62.88 and its 200-day moving average is $59.24. The company has a market cap of $11.499 billion and a P/E ratio of 66.83.
Access Midstream Partners (NYSE:ACMP) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.12. The company had revenue of $292.90 million for the quarter, compared to the consensus estimate of $300.59 million. During the same quarter last year, the company posted $0.31 earnings per share. Access Midstream Partners’s revenue was up 18.5% compared to the same quarter last year. On average, analysts predict that Access Midstream Partners will post $1.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, August 5th. This is an increase from Access Midstream Partners’s previous quarterly dividend of $0.58.
Several analysts have recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Access Midstream Partners in a research note on Thursday. They now have a $71.00 price target on the stock, down previously from $75.00. Separately, 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. Finally, 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.
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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