Citigroup Inc. Lowers American Midstream Partners, LP (AMID) to Neutral

Citigroup Inc. lowered shares of American Midstream Partners, LP (NYSE:AMID) from a buy rating to a neutral rating in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has $16.00 price objective on the pipeline company’s stock, down from their prior price objective of $18.00.

A number of other brokerages have also commented on AMID. Royal Bank Of Canada reissued a hold rating and set a $14.00 price target (down from $18.00) on shares of American Midstream Partners, in a report on Monday, August 28th. Zacks Investment Research lowered American Midstream Partners, from a buy rating to a hold rating in a report on Thursday, August 31st. ValuEngine raised American Midstream Partners, from a sell rating to a hold rating in a report on Friday, July 28th. Finally, BidaskClub raised American Midstream Partners, from a sell rating to a hold rating in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. American Midstream Partners, presently has a consensus rating of Hold and a consensus price target of $16.60.

American Midstream Partners, (NYSE:AMID) last posted its earnings results on Tuesday, August 8th. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.39). The company had revenue of $193.63 million during the quarter. American Midstream Partners, had a negative net margin of 10.35% and a negative return on equity of 19.39%.

COPYRIGHT VIOLATION WARNING: This news story was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.themarketsdaily.com/2017/10/13/citigroup-inc-lowers-american-midstream-partners-lp-amid-to-neutral.html.

A number of large investors have recently added to or reduced their stakes in AMID. Regent Investment Management LLC grew its holdings in American Midstream Partners, by 10.0% during the second quarter. Regent Investment Management LLC now owns 11,000 shares of the pipeline company’s stock worth $141,000 after acquiring an additional 1,000 shares during the period. Global X Management Co. LLC purchased a new position in American Midstream Partners, in the 2nd quarter worth about $159,000. Goldman Sachs Group Inc. increased its stake in American Midstream Partners, by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,133 shares of the pipeline company’s stock worth $373,000 after purchasing an additional 10,329 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in 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 worth $389,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Citigroup Inc. increased its stake in American Midstream Partners, by 727.1% in the 2nd quarter. Citigroup Inc. now owns 30,603 shares of the pipeline company’s stock worth $393,000 after purchasing an additional 26,903 shares in the last quarter. 42.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for American Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply