Usa Compression Partners Trading 3.9% Higher Following Strong Earnings (USAC)
Shares of Usa Compression Partners (NASDAQ:USAC) traded up 3.9% during mid-day trading on Tuesday following a stronger than expected earnings report, Stock Ratings Network.com reports. The stock traded as high as $25.62 and last traded at $25.50, with a volume of 141,626 shares traded. The stock had previously closed at $24.54.
The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.07. The company had revenue of $53.27 million for the quarter, compared to the consensus estimate of $53.53 million.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.15%. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from Usa Compression Partners’s previous quarterly dividend of $0.49.
A number of research firms have recently commented on USAC. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Usa Compression Partners in a research note on Monday, June 23rd. They now have a $32.00 price target on the stock, up previously from $31.00. Analysts at Ladenburg Thalmann initiated coverage on shares of Usa Compression Partners in a research note on Wednesday, June 18th. They set a “buy” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $32.20.
The stock has a 50-day moving average of $25.10 and a 200-day moving average of $26.11. The company has a market cap of $980.3 million and a P/E ratio of 65.09.
USA Compression Partners, LP through its wholly owned subsidiary USA Compression Partners, LLC (NASDAQ:USAC) and Operating Subsidiary’s wholly owned subsidiary USAC Leasing LLC, primarily provides natural gas compression services under term contracts with customers in the oil and gas industry, using natural gas compressor packages that it designs, engineers, operates and maintains.
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