Trade Report: The RBC Capital Markets Reaffirmed “Outperform” Rating for American Midstream Partners LP (AMID)

The RBC Capital Markets Reaffirmed “Outperform” Rating for American Midstream Partners LP (AMID)

RBC Capital Markets reaffirmed their outperform rating on shares of American Midstream Partners LP (NYSE:AMID) in a report published on Wednesday morning. They currently have a $19.00 price objective on the stock, up from their previous price objective of $16.00.

A number of other equities analysts also recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of American Midstream Partners from $16.00 to $19.00 and gave the stock an outperform rating in a research note on Tuesday, October 25th. Zacks Investment Research downgraded shares of American Midstream Partners from a hold rating to a sell rating in a research note on Tuesday, October 11th. Finally, Ladenburg Thalmann raised shares of American Midstream Partners from a neutral rating to a buy rating and set a $16.00 price target on the stock in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $10.81.

American Midstream Partners (NYSE:AMID) opened at 14.10 on Wednesday. The company has a 50 day moving average price of $14.40 and a 200 day moving average price of $12.45. The firm’s market cap is $448.51 million. American Midstream Partners has a 1-year low of $3.80 and a 1-year high of $15.45.

American Midstream Partners (NYSE:AMID) last released its earnings results on Monday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.59. The business earned $55.40 million during the quarter, compared to analysts’ expectations of $63.92 million. American Midstream Partners had a negative net margin of 65.51% and a positive return on equity of 8.15%. On average, equities research analysts forecast that American Midstream Partners will post $0.75 earnings per share for the current year.

The firm also recently announced a dividend, which will be paid on Monday, November 14th. Shareholders of record on Thursday, November 3rd will be given a dividend of $0.412 per share. The ex-dividend date of this dividend is Tuesday, November 1st. American Midstream Partners’s payout ratio is -30.96%.

In other news, major shareholder Spectrum Securities Cor Energy sold 406,213 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $12.16, for a total value of $4,939,550.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.40% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Citigroup Inc. increased its stake 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 valued at $292,000 after buying an additional 1,835 shares in the last quarter. Mount Lucas Management LP increased its stake in shares of American Midstream Partners by 16.0% in the first quarter. Mount Lucas Management LP now owns 14,500 shares of the company’s stock valued at $100,000 after buying an additional 2,000 shares in the last quarter. Mariner Wealth Advisors LLC increased 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 in the last quarter. GSA Capital Partners LLP boosted its stake in American Midstream Partners by 41.5% in the second quarter. GSA Capital Partners LLP now owns 34,100 shares of the company’s stock valued at $403,000 after buying an additional 10,000 shares during the last quarter. Finally, Sigma Planning Corp bought a new stake in American Midstream Partners during the second quarter valued at $137,000. 28.14% of the stock is currently owned by institutional investors.

About American Midstream Partners

Related posts

Leave a Comment