American Midstream Partners LP (AMID) Issues Quarterly Earnings Results
American Midstream Partners LP (NYSE:AMID) released its earnings results on Wednesday. The pipeline company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.84. American Midstream Partners had a positive return on equity of 9.97% and a negative net margin of 60.13%. The firm had revenue of $199.63 million for the quarter.
Shares of American Midstream Partners (NYSE:AMID) traded down 1.45% during midday trading on Thursday, reaching $13.60. 268,278 shares of the company’s stock were exchanged. American Midstream Partners has a one year low of $10.39 and a one year high of $18.45. The company’s 50-day moving average is $14.56 and its 200-day moving average is $15.75. The stock’s market cap is $714.26 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, May 5th will be issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 12.13%. The ex-dividend date of this dividend is Wednesday, May 3rd. American Midstream Partners’s dividend payout ratio (DPR) is currently -32.54%.
AMID has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of American Midstream Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 27th. Royal Bank of Canada restated a “buy” rating and set a $19.00 target price on shares of American Midstream Partners in a research note on Friday, March 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.25.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Global Advisors LLC purchased a new position in American Midstream Partners during the third quarter valued at approximately $148,000. Raymond James Financial Services Advisors Inc. increased its position in American Midstream Partners by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 27,079 shares of the pipeline company’s stock valued at $493,000 after buying an additional 79 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in American Midstream Partners during the fourth quarter valued at approximately $3,443,000. Guggenheim Capital LLC increased its position in American Midstream Partners by 1,174.2% in the fourth quarter. Guggenheim Capital LLC now owns 365,009 shares of the pipeline company’s stock valued at $6,643,000 after buying an additional 336,363 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in American Midstream Partners by 2,841.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,148 shares of the pipeline company’s stock valued at $366,000 after buying an additional 19,463 shares in the last quarter. 32.80% of the stock is owned by hedge funds and other institutional investors.
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American Midstream Partners Company Profile
American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure that links producers of natural gas, crude oil, natural gas liquids (NGLs), condensate and specialty chemicals to numerous intermediate and end-use markets.
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