Analysts Set American Midstream Partners LP (AMID) Price Target at $11.19
American Midstream Partners LP (NYSE:AMID) has received an average recommendation of “Hold” from the ten analysts that are presently covering the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.19.
AMID has been the topic of several analyst reports. RBC Capital Markets reiterated an “outperform” rating and issued a $19.00 price objective (up from $16.00) on shares of American Midstream Partners in a research note on Wednesday, October 26th. Zacks Investment Research lowered American Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Royal Bank Of Canada initiated coverage on American Midstream Partners in a research note on Friday, August 19th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Ladenburg Thalmann upgraded American Midstream Partners from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, July 21st.
American Midstream Partners (NYSE:AMID) opened at 13.70 on Tuesday. American Midstream Partners has a 12 month low of $3.80 and a 12 month high of $15.45. The firm’s market capitalization is $435.78 million. The stock’s 50 day moving average price is $14.26 and its 200 day moving average price is $12.81.
The firm also recently announced a dividend, which will be paid on Monday, November 14th. Stockholders of record on Thursday, November 3rd will be issued a $0.412 dividend. The ex-dividend date is Tuesday, November 1st. American Midstream Partners’s payout ratio is currently -32.54%.
In other American Midstream Partners news, major shareholder Spectrum Securities Cor Energy sold 927,718 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $12.10, for a total transaction of $11,225,387.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mariner Wealth Advisors LLC bought a new position in American Midstream Partners during the first quarter worth $118,000. Price Michael F increased its position in American Midstream Partners by 12.2% in the first quarter. Price Michael F now owns 522,500 shares of the company’s stock worth $3,616,000 after buying an additional 57,000 shares during the period. Mount Lucas Management LP increased 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 during the period. Sigma Planning Corp bought a new position in American Midstream Partners during the second quarter worth $137,000. Finally, Bank of Montreal Can bought a new position in American Midstream Partners during the second quarter worth $296,000. 28.16% of the stock is currently owned by institutional investors.
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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