RBC Capital Initiates Coverage on American Midstream Partners LP to Outperform

RBC Capital Initiates Coverage on American Midstream Partners LP(NYSE:AMID). The shares have been rated Outperform. The rating by RBC Capital was issued on Aug 19, 2016.

In a different note, On Jul 21, 2016, Ladenburg Thalmann said it Upgrades its rating on American Midstream Partners LP. The shares have been rated ‘Buy’ by the firm.

American Midstream Partners LP (AMID) made into the market gainers list on Mondays trading session with the shares advancing 0.83% or 0.1 points. Due to strong positive momentum, the stock ended at $12.1, which is also near the day’s high of $12.19. The stock began the session at $12 and the volume stood at 2,62,929 shares. The 52-week high of the shares is $14.92 and the 52 week low is $3.8. The company has a current market capitalization of $377 M and it has 3,11,54,636 shares in outstanding.

American Midstream Partners LP(AMID) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $55.38M. Analysts had an estimated revenue of $59.91M. Earnings per share were $-0.36. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Dec 23, 2015, Gerald A Tywoniuk (director) purchased 2,000 shares at $6.99 per share price.Also, On Dec 18, 2015, Lynn L Iii Bourdon (CEO) purchased 5,000 shares at $4.07 per share price.On Dec 15, 2015, Kevin J. Sullivan (Executive Vice President) purchased 10,000 shares at $5.84 per share price, according to the Form-4 filing with the securities and exchange commission.

American Midstream Partners LP owns operates develops and acquires a diversified portfolio of midstream energy assets. The Company gathers treats processes and transports natural gas fractionates natural gas liquids (NGLs) and stores specialty chemical products through its ownership and operation of 12 gathering systems five processing facilities three fractionation facilities three interstate pipelines five intrastate pipelines and four marine terminal sites. The Company operates through three segments: Gathering and Processing Transmission and Terminals. The Gathering and Processing segment gathers processes transports and treats natural gas. The Transmission segment transports natural gas. The Terminals segment provides above-ground storage services at the Company’s marine terminals that support commodity brokers refiners and chemical manufacturers to store a range of products including petroleum products distillates chemicals and agricultural products.

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