Zacks Investment Research Upgrades American Midstream Partners LP (AMID) to Hold
American Midstream Partners LP (NYSE:AMID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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 research analysts have also weighed in on AMID. Royal Bank Of Canada increased their price objective on American Midstream Partners from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 25th. RBC Capital Markets began coverage on American Midstream Partners in a research report on Friday, August 19th. They issued an “outperform” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. American Midstream Partners presently has an average rating of “Hold” and a consensus target price of $11.03.
American Midstream Partners (NYSE:AMID) opened at 15.15 on Wednesday. The stock has a 50 day moving average price of $14.20 and a 200-day moving average price of $13.01. The stock’s market capitalization is $482.79 million. American Midstream Partners has a one year low of $3.80 and a one year high of $15.45.
The business also recently disclosed a dividend, which was paid on Monday, November 14th. Stockholders of record on Thursday, November 3rd were paid a $0.412 dividend. The ex-dividend date of this dividend was Tuesday, November 1st. American Midstream Partners’s payout ratio is currently -32.54%.
Several hedge funds have recently made changes to their positions in AMID. HITE Hedge Asset Management LLC bought a new stake in shares of American Midstream Partners during the third quarter valued at about $5,162,000. Regent Investment Management LLC bought a new stake in shares of American Midstream Partners during the third quarter valued at about $202,000. Advisory Research Inc. boosted its stake in shares of American Midstream Partners by 5.8% in the second quarter. Advisory Research Inc. now owns 465,968 shares of the company’s stock valued at $5,512,000 after buying an additional 25,395 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of American Midstream Partners during the second quarter valued at about $243,000. Finally, Mariner Wealth Advisors LLC boosted its stake in shares of American Midstream Partners by 32.4% in the second quarter. Mariner Wealth Advisors LLC now owns 22,576 shares of the company’s stock valued at $267,000 after buying an additional 5,526 shares during the last quarter. Institutional investors and hedge funds own 28.08% of the company’s stock.
American Midstream Partners Company Profile
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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