Brokerages Set American Midstream Partners LP (AMID) PT at $18.25

American Midstream Partners LP (NYSE:AMID) has earned an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.25.

A number of research analysts recently commented on the company. ValuEngine downgraded American Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research raised American Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, April 17th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $19.00 target price on shares of American Midstream Partners in a research note on Friday, March 17th.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. increased its position in shares of American Midstream Partners by 5.2% in the first quarter. OppenheimerFunds Inc. now owns 5,798,609 shares of the pipeline company’s stock valued at $86,109,000 after buying an additional 284,188 shares during the last quarter. Atlantic Trust Group LLC increased its position in shares of American Midstream Partners by 194.6% in the first quarter. Atlantic Trust Group LLC now owns 920,095 shares of the pipeline company’s stock valued at $13,663,000 after buying an additional 607,799 shares during the last quarter. Morgan Stanley increased its position in shares of American Midstream Partners by 41.0% in the first quarter. Morgan Stanley now owns 829,539 shares of the pipeline company’s stock valued at $12,318,000 after buying an additional 241,088 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in shares of American Midstream Partners by 97.1% in the first quarter. HITE Hedge Asset Management LLC now owns 665,069 shares of the pipeline company’s stock valued at $9,876,000 after buying an additional 327,672 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of American Midstream Partners by 13.1% in the first quarter. Bank of America Corp DE now owns 616,348 shares of the pipeline company’s stock valued at $9,153,000 after buying an additional 71,288 shares during the last quarter. 32.80% of the stock is owned by hedge funds and other institutional investors.

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American Midstream Partners (AMID) traded up 0.41% during midday trading on Friday, hitting $12.25. 432,919 shares of the stock traded hands. The firm’s 50 day moving average is $13.71 and its 200-day moving average is $15.64. The stock’s market capitalization is $640.91 million. American Midstream Partners has a 12-month low of $10.39 and a 12-month high of $18.45.

American Midstream Partners (NYSE:AMID) last posted its quarterly earnings results on Wednesday, May 10th. The pipeline company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.84. The company had revenue of $199.63 million during the quarter. American Midstream Partners had a negative net margin of 14.47% and a negative return on equity of 26.44%. On average, analysts anticipate that American Midstream Partners will post $0.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 13.47%. The ex-dividend date was Wednesday, May 3rd. American Midstream Partners’s payout ratio is -32.54%.

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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