American Midstream Partners, LP (NYSE:AMID) Issues Quarterly Earnings Results, Misses Estimates By $0.39 EPS

American Midstream Partners, LP (NYSE:AMID) issued its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.39, MarketWatch Earnings reports. The firm had revenue of $193.63 million for the quarter.

American Midstream Partners, (NYSE:AMID) traded up 3.07% during trading on Friday, reaching $13.45. 88,068 shares of the company’s stock traded hands. The stock’s market cap is $708.99 million. The company’s 50 day moving average is $13.67 and its 200-day moving average is $14.27. American Midstream Partners, has a 52-week low of $11.10 and a 52-week high of $18.45.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.412 dividend. This represents a $1.65 annualized dividend and a yield of 12.25%. The ex-dividend date of this dividend was Thursday, August 3rd.

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A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of American Midstream Partners, by 3.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 30,279 shares of the pipeline company’s stock valued at $389,000 after buying an additional 1,095 shares during the period. Citigroup Inc. increased its position in shares of American Midstream Partners, by 727.1% in the second quarter. Citigroup Inc. now owns 30,603 shares of the pipeline company’s stock valued at $393,000 after buying an additional 26,903 shares during the period. Wells Fargo & Company MN increased its position in shares of American Midstream Partners, by 81.4% in the second quarter. Wells Fargo & Company MN now owns 57,321 shares of the pipeline company’s stock valued at $737,000 after buying an additional 25,718 shares during the period. Global X Management Co. LLC purchased a new stake in shares of American Midstream Partners, during the second quarter valued at $159,000. Finally, Regent Investment Management LLC boosted its stake in shares of American Midstream Partners, by 10.0% in the second quarter. Regent Investment Management LLC now owns 11,000 shares of the pipeline company’s stock valued at $141,000 after buying an additional 1,000 shares in the last quarter. 44.09% of the stock is currently owned by institutional investors.

AMID has been the subject of several recent research reports. ValuEngine cut shares of American Midstream Partners, from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and set a $18.00 target price on shares of American Midstream Partners, in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of American Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. American Midstream Partners, currently has a consensus rating of “Buy” and a consensus price target of $17.75.

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.

Earnings History for American Midstream Partners, (NYSE:AMID)

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