American Midstream Partners LP (AMID) Downgraded by Zacks Investment Research
American Midstream Partners LP (NYSE:AMID) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “American Midstream Partners, LP owns, operates, develops and acquire a diversified portfolio of natural gas midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas through its ownership and operation of gathering systems, processing facilities and pipelines. Its primary assets, which are located in Alabama, Louisiana, Mississippi, Tennessee and Texas, provide infrastructure that links producers and suppliers of natural gas to diverse natural gas markets, including various pipelines, as well as utility, industrial and other commercial customers. American Midstream Partners, LP is based in Denver, Colorado. “
Several other equities research analysts also recently commented on the company. RBC Capital Markets initiated coverage on American Midstream Partners in a report on Friday, August 19th. They set an “outperform” rating and a $16.00 target price on the stock. Royal Bank Of Canada initiated coverage on American Midstream Partners in a report on Friday, August 19th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, Ladenburg Thalmann upgraded American Midstream Partners from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.14.
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American Midstream Partners (NYSE:AMID) traded down 1.96% during midday trading on Tuesday, hitting $14.54. The stock had a trading volume of 236,934 shares. The company’s market cap is $462.50 million. American Midstream Partners has a 12-month low of $3.80 and a 12-month high of $15.19. The company has a 50-day moving average price of $14.00 and a 200-day moving average price of $11.81.
American Midstream Partners (NYSE:AMID) last announced its earnings results on Monday, August 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of $0.23 by $0.59. The company had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $63.92 million. American Midstream Partners had a negative net margin of 65.51% and a positive return on equity of 8.15%. Equities analysts anticipate that American Midstream Partners will post $0.62 EPS for the current year.
In other news, major shareholder Spectrum Securities Cor Energy sold 44,616 shares of American Midstream Partners stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $12.02, for a total value of $536,284.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mount Lucas Management LP raised its position in American Midstream Partners by 16.0% in the first quarter. Mount Lucas Management LP now owns 14,500 shares of the company’s stock worth $100,000 after buying an additional 2,000 shares in the last quarter. Mariner Wealth Advisors LLC bought a new position in American Midstream Partners during the first quarter worth about $118,000. Sigma Planning Corp bought a new position in American Midstream Partners during the second quarter worth about $137,000. TFS Capital LLC bought a new position in American Midstream Partners during the second quarter worth about $154,000. Finally, Guggenheim Capital LLC bought a new position in American Midstream Partners during the second quarter worth about $243,000. Institutional investors and hedge funds own 28.07% of the company’s stock.
About American Midstream Partners
American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas; gathering, transporting, storing, treating and fractionating natural gas liquids (NGLs); gathering, storing and transporting crude oil and condensates, and storing specialty chemical products.
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