American Midstream Partners (AMID) Announces Earnings Results, Beats Estimates By $0.70 EPS
American Midstream Partners (NYSE:AMID) released its earnings results on Thursday. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.70, MarketWatch Earnings reports. American Midstream Partners had a negative return on equity of 66.74% and a negative net margin of 13.56%. The firm had revenue of $202.35 million for the quarter.
NYSE:AMID opened at $5.54 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 11.36. American Midstream Partners has a 1-year low of $5.30 and a 1-year high of $15.25.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Tuesday, November 6th will be given a $0.103 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 7.44%.
In other American Midstream Partners news, insider Arclight Energy Partners Fund acquired 597,728 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was purchased at an average cost of $6.16 per share, for a total transaction of $3,682,004.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. boosted its position in American Midstream Partners by 3.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 6,319,108 shares of the pipeline company’s stock worth $64,455,000 after acquiring an additional 224,518 shares during the period. Creative Planning boosted its position in American Midstream Partners by 14.4% during the 3rd quarter. Creative Planning now owns 240,298 shares of the pipeline company’s stock worth $1,526,000 after acquiring an additional 30,298 shares during the period. Renaissance Technologies LLC acquired a new stake in American Midstream Partners during the 2nd quarter worth about $1,797,000. Wells Fargo & Company MN boosted its position in American Midstream Partners by 80.4% during the 1st quarter. Wells Fargo & Company MN now owns 106,788 shares of the pipeline company’s stock worth $1,153,000 after acquiring an additional 47,589 shares during the period. Finally, Bank of Montreal Can boosted its position in American Midstream Partners by 240.0% during the 2nd quarter. Bank of Montreal Can now owns 85,000 shares of the pipeline company’s stock worth $867,000 after acquiring an additional 60,000 shares during the period. Hedge funds and other institutional investors own 40.96% of the company’s stock.
About American Midstream Partners
American Midstream Partners, LP provides midstream infrastructure that links the producers of natural gas, crude oil, natural gas liquids (NGLs), condensate, and specialty chemicals to various intermediate and end-use markets in the United States and Mexico. Its Gas Gathering and Processing Services segment offers services to producers of natural gas and crude oil, including transporting raw natural gas and crude oil from various receipt points through gathering systems, treating the raw natural gas, processing raw natural gas to separate the NGLs from the natural gas, fractionating NGLs, and selling or delivering pipeline-quality natural gas and NGLs.
See Also: Preferred Stock
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