American Midstream Partners LP (AMID) Raised to “Hold” at Zacks Investment Research

American Midstream Partners LP (NYSE:AMID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “American Midstream Partners, LP owns, operates, develops and acquire a diversified portfolio of natural gas midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas through its ownership and operation of gathering systems, processing facilities and pipelines. Its primary assets, which are located in Alabama, Louisiana, Mississippi, Tennessee and Texas, provide infrastructure that links producers and suppliers of natural gas to diverse natural gas markets, including various pipelines, as well as utility, industrial and other commercial customers. American Midstream Partners, LP is based in Denver, Colorado. “

A number of other brokerages have also commented on AMID. Janney Montgomery Scott initiated coverage on American Midstream Partners in a research report on Friday, December 9th. They issued a “buy” rating and a $19.00 target price on the stock. UBS Group AG reiterated a “buy” rating and issued a $19.00 target price (up previously from $17.00) on shares of American Midstream Partners in a research report on Friday, December 16th. Citigroup Inc upgraded American Midstream Partners from a “neutral” rating to a “buy” rating in a research report on Friday, December 2nd. < Royal Bank of Canada reiterated a "buy" rating and issued a $19.00 target price on shares of American Midstream Partners in a research report on Friday. Finally, TheStreet upgraded American Midstream Partners from a "sell" rating to a "hold" rating in a research report on Wednesday, November 30th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. American Midstream Partners currently has an average rating of "Buy" and a consensus target price of $18.25.

Analyst Recommendations for American Midstream Partners (NYSE:AMID)

American Midstream Partners (NYSE:AMID) traded down 0.33% during midday trading on Monday, hitting $15.25. 485,361 shares of the stock traded hands. The firm’s market cap is $486.72 million. American Midstream Partners has a 12 month low of $6.18 and a 12 month high of $18.45. The company’s 50 day moving average price is $16.50 and its 200 day moving average price is $15.66.

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In related news, Director Gerald A. Tywoniuk sold 1,582 shares of the company’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $17.00, for a total value of $26,894.00. Following the sale, the director now owns 2,000 shares in the company, valued at $34,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald A. Tywoniuk sold 1,510 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $18.26, for a total value of $27,572.60. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $36,520. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised its stake in shares of American Midstream Partners by 1,174.2% in the fourth quarter. Guggenheim Capital LLC now owns 365,009 shares of the company’s stock worth $6,643,000 after buying an additional 336,363 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of American Midstream Partners during the third quarter worth approximately $5,162,000. ELCO Management Co. LLC purchased a new stake in shares of American Midstream Partners during the third quarter worth approximately $4,914,000. Rafferty Asset Management LLC purchased a new stake in shares of American Midstream Partners during the fourth quarter worth approximately $3,443,000. Finally, Wells Fargo & Company MN raised its stake in shares of American Midstream Partners by 173.8% in the third quarter. Wells Fargo & Company MN now owns 36,932 shares of the company’s stock worth $546,000 after buying an additional 23,444 shares in the last quarter. Hedge funds and other institutional investors own 32.80% of the company’s stock.

About American Midstream Partners

American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas; gathering, transporting, storing, treating and fractionating natural gas liquids (NGLs); gathering, storing and transporting crude oil and condensates, and storing specialty chemical products.

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