Cushing Asset Management LP trimmed its position in shares of American Midstream Partners LP (NYSE:AMID) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,379,267 shares of the pipeline company’s stock after selling 39,620 shares during the period. Cushing Asset Management LP owned about 3.30% of American Midstream Partners worth $31,763,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wesbanco Bank Inc. bought a new position in American Midstream Partners during the 4th quarter worth approximately $134,000. Virtu Financial LLC bought a new position in American Midstream Partners during the 4th quarter worth approximately $203,000. Arrow Investment Advisors LLC grew its position in American Midstream Partners by 34.9% during the 3rd quarter. Arrow Investment Advisors LLC now owns 61,044 shares of the pipeline company’s stock worth $833,000 after acquiring an additional 15,805 shares during the last quarter. Neuberger Berman Group LLC grew its position in American Midstream Partners by 3.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 793,275 shares of the pipeline company’s stock worth $10,828,000 after acquiring an additional 28,200 shares during the last quarter. Finally, Center Coast Capital Advisors LP bought a new position in American Midstream Partners during the 4th quarter worth approximately $401,000. 43.08% of the stock is currently owned by institutional investors.
Separately, ValuEngine lowered American Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.00.
Shares of American Midstream Partners LP (AMID) opened at $11.65 on Wednesday. The firm has a market capitalization of $613.77, a P/E ratio of -2.93 and a beta of 1.03. American Midstream Partners LP has a 1 year low of $11.10 and a 1 year high of $16.00. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.13 and a quick ratio of 1.08.
American Midstream Partners (NYSE:AMID) last issued its quarterly earnings data on Monday, March 12th. The pipeline company reported ($2.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($2.75). The business had revenue of $167.58 million during the quarter. American Midstream Partners had a negative return on equity of 36.28% and a negative net margin of 18.07%.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given a $0.4125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 14.16%. American Midstream Partners’s dividend payout ratio is currently -41.56%.
American Midstream Partners 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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