Shares of Archrock Partners LP (NASDAQ:APLP) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.13.
APLP has been the topic of several analyst reports. Zacks Investment Research lowered Archrock Partners from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $19.00 target price on shares of Archrock Partners in a report on Monday, October 30th. ValuEngine lowered Archrock Partners from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. BidaskClub upgraded Archrock Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. lowered Archrock Partners from an “overweight” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Thursday, January 4th.
A number of large investors have recently added to or reduced their stakes in APLP. Royal Bank of Canada raised its stake in Archrock Partners by 2.7% in the second quarter. Royal Bank of Canada now owns 18,242 shares of the energy company’s stock valued at $272,000 after buying an additional 486 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Archrock Partners in the third quarter valued at approximately $218,000. SG Americas Securities LLC bought a new stake in Archrock Partners in the third quarter valued at approximately $3,418,000. Harvest Fund Advisors LLC grew its position in shares of Archrock Partners by 2.9% in the third quarter. Harvest Fund Advisors LLC now owns 5,792,119 shares of the energy company’s stock valued at $82,596,000 after purchasing an additional 165,958 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Archrock Partners by 14.2% in the third quarter. JPMorgan Chase & Co. now owns 154,146 shares of the energy company’s stock valued at $2,142,000 after purchasing an additional 19,223 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Thursday, February 8th were paid a $0.285 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.14 annualized dividend and a yield of 8.63%. Archrock Partners’s dividend payout ratio is -438.46%.
About Archrock Partners
Archrock Partners, L.P. is engaged in natural gas compression industry in the United States. The Company’s contract operations services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers.
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