Today, The Zacks Investment Research Upgraded American Midstream Partners LP (AMID) to Hold

Today, The Zacks Investment Research Upgraded 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. “

AMID has been the subject of several other reports. Royal Bank Of Canada boosted their price objective on shares of American Midstream Partners from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, October 25th. RBC Capital Markets began coverage on shares of American Midstream Partners in a research note on Friday, August 19th. They set an “outperform” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.03.

Shares of American Midstream Partners (NYSE:AMID) opened at 15.15 on Wednesday. American Midstream Partners has a 1-year low of $3.80 and a 1-year high of $15.45. The firm’s market capitalization is $482.79 million. The firm has a 50-day moving average price of $14.20 and a 200-day moving average price of $13.01.

The company also recently disclosed a dividend, which was paid on Monday, November 14th. Shareholders of record on Thursday, November 3rd were issued a $0.412 dividend. The ex-dividend date of this dividend was Tuesday, November 1st. American Midstream Partners’s dividend payout ratio is currently -32.54%.

A number of institutional investors have recently modified their holdings of AMID. Citigroup Inc. raised its position in shares of American Midstream Partners by 8.0% in the second quarter. Citigroup Inc. now owns 24,700 shares of the company’s stock worth $292,000 after buying an additional 1,835 shares in the last quarter. Mariner Wealth Advisors LLC raised its position 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 worth $267,000 after buying an additional 5,526 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of American Midstream Partners by 41.5% in the second quarter. GSA Capital Partners LLP now owns 34,100 shares of the company’s stock worth $403,000 after buying an additional 10,000 shares in the last quarter. Eagle Global Advisors LLC purchased a new position in shares of American Midstream Partners during the third quarter worth approximately $148,000. Finally, Sigma Planning Corp purchased a new position in shares of American Midstream Partners during the second quarter worth approximately $137,000. Hedge funds and other institutional investors 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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