American Midstream Partners (AMID) Cut to “Strong Sell” at ValuEngine
ValuEngine lowered shares of American Midstream Partners (NYSE:AMID) from a sell rating to a strong sell rating in a research note issued to investors on Thursday.
American Midstream Partners (NYSE AMID) opened at $11.70 on Thursday. The company has a market capitalization of $616.41, a P/E ratio of -7.55 and a beta of 1.03. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.13 and a quick ratio of 1.08. American Midstream Partners has a one year low of $11.10 and a one year high of $17.00.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 14.10%. The ex-dividend date was Tuesday, February 6th. American Midstream Partners’s payout ratio is presently -106.45%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of American Midstream Partners by 3.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 30,279 shares of the pipeline company’s stock valued at $389,000 after purchasing an additional 1,095 shares during the period. Wesbanco Bank Inc. purchased a new position in American Midstream Partners during the fourth quarter valued at $134,000. Sunbelt Securities Inc. purchased a new position in American Midstream Partners during the third quarter valued at $147,000. Virtu Financial LLC purchased a new position in American Midstream Partners during the fourth quarter valued at $203,000. Finally, Arrow Investment Advisors LLC raised its stake in American Midstream Partners by 34.9% during the third quarter. Arrow Investment Advisors LLC now owns 61,044 shares of the pipeline company’s stock valued at $833,000 after buying an additional 15,805 shares during the last quarter. Institutional investors own 42.98% of the company’s stock.
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About American Midstream Partners
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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