Access Midstream Partners Receives Outperform Rating from RBC Capital (ACMP)
Access Midstream Partners (NYSE:ACMP)‘s stock had its “outperform” rating restated by investment analysts at RBC Capital in a note issued to investors on Thursday. They currently have a $71.00 price objective on the stock, down from their previous price objective of $75.00. RBC Capital’s price target suggests a potential upside of 20.34% from the company’s current price.
A number of other firms have also recently commented on ACMP. 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. Separately, 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $68.44.
Shares of Access Midstream Partners (NYSE:ACMP) traded down 2.03% during mid-day trading on Thursday, hitting $59.00. The stock had a trading volume of 1,002,328 shares. Access Midstream Partners has a 1-year low of $44.75 and a 1-year high of $66.71. The stock’s 50-day moving average is $62.74 and its 200-day moving average is $59.27. The company has a market cap of $11.266 billion and a price-to-earnings ratio of 65.67.
Access Midstream Partners (NYSE:ACMP) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. 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. Shareholders 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 4.03%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a positive change from Access Midstream Partners’s previous quarterly dividend of $0.58.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.