Zacks Investment Research upgraded shares of American Midstream Partners, LP (NYSE:AMID) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $15.00 target price on the pipeline company’s stock.

According to Zacks, “American Midstream Partners, LP is a growth-oriented limited partnership formed to provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to end-use markets. American Midstream¬ís assets are strategically located in some of the most prolific onshore and offshore basins in the Permian, Eagle Ford, East Texas, Bakken and Gulf Coast. American Midstream owns or has an ownership interest in approximately 4,000 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semisubmersible floating production system with nameplate processing capacity of 80 MBbl/d of crude oil and 200 MMcf/d of natural gas; and terminal sites with approximately 6.7 MMBbls of storage capacity. The Partnership owns the third largest cylinder exchange business and one of the largest regional retail propane providers. “

A number of other analysts have also recently issued reports on AMID. ValuEngine cut shares of American Midstream Partners, from a hold rating to a sell rating in a research note on Thursday, August 17th. Royal Bank Of Canada restated a buy rating and set a $18.00 target price on shares of American Midstream Partners, in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $17.75.

American Midstream Partners, (NYSE AMID) opened at 13.00 on Friday. The company’s market cap is $685.27 million. The company has a 50-day moving average of $13.68 and a 200 day moving average of $14.18. American Midstream Partners, has a one year low of $11.10 and a one year high of $18.45.

American Midstream Partners, (NYSE:AMID) last posted its earnings results on Tuesday, August 8th. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.39. The firm had revenue of $193.63 million for the quarter. Equities research analysts predict that American Midstream Partners, will post ($1.84) EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a yield of 12.68%. The ex-dividend date of this dividend was Thursday, August 3rd.

A number of institutional investors have recently added to or reduced their stakes in AMID. Allen Investment Management LLC acquired a new position in American Midstream Partners, during the first quarter worth approximately $531,000. Renaissance Technologies LLC raised its position in American Midstream Partners, by 44.7% in the first quarter. Renaissance Technologies LLC now owns 183,619 shares of the pipeline company’s stock worth $2,727,000 after buying an additional 56,734 shares in the last quarter. Morgan Stanley raised its position in American Midstream Partners, by 41.0% in the first quarter. Morgan Stanley now owns 829,539 shares of the pipeline company’s stock worth $12,318,000 after buying an additional 241,088 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in American Midstream Partners, during the first quarter worth approximately $7,014,000. Finally, California Public Employees Retirement System acquired a new position in American Midstream Partners, during the first quarter worth approximately $858,000. 44.09% of the stock is currently owned by institutional investors and hedge funds.

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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