American Midstream Partners, LP (NYSE:AMID) Announces Earnings Results
American Midstream Partners, LP (NYSE:AMID) issued its quarterly earnings results on Tuesday. The pipeline company reported ($0.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.39, MarketWatch Earnings reports. The business had revenue of $193.63 million during the quarter.
Shares of American Midstream Partners, (AMID) traded up 2.90% during mid-day trading on Wednesday, hitting $14.20. The stock had a trading volume of 200,550 shares. The stock’s 50-day moving average is $13.28 and its 200 day moving average is $14.57. The firm’s market capitalization is $742.93 million. American Midstream Partners, has a 1-year low of $11.10 and a 1-year high of $18.45.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.412 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.65 dividend on an annualized basis and a yield of 11.94%.
A number of analysts have weighed in on AMID shares. Zacks Investment Research upgraded American Midstream Partners, from a “sell” rating to a “hold” rating in a report on Monday, April 17th. ValuEngine downgraded American Midstream Partners, from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $18.00 price target on shares of American Midstream Partners, in a report on Monday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. American Midstream Partners, currently has an average rating of “Buy” and an average target price of $18.67.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Regent Investment Management LLC bought a new position in shares of American Midstream Partners, during the first quarter valued at $149,000. Global X Management Co. LLC bought a new position in shares of American Midstream Partners, during the second quarter valued at $159,000. Texas Yale Capital Corp. bought a new position in shares of American Midstream Partners, during the first quarter valued at $195,000. ING Groep NV bought a new position in shares of American Midstream Partners, during the first quarter valued at $264,000. Finally, Goldman Sachs Group Inc. raised its position in shares of American Midstream Partners, by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 25,133 shares of the pipeline company’s stock valued at $373,000 after buying an additional 10,329 shares during the period. 44.69% of the stock is owned by institutional investors.
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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