Archrock Partners LP (APLP) Stock Price Up 5.3%
Archrock Partners LP (NASDAQ:APLP) shares rose 5.3% during trading on Friday . The stock traded as high as $14.19 and last traded at $14.19, with a volume of 106,859 shares trading hands. The stock had previously closed at $13.47.
APLP has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $17.00 price objective on shares of Archrock Partners in a research note on Thursday, May 5th. Goldman Sachs Group Inc. upgraded Archrock Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $14.00 in a report on Tuesday, June 21st. Zacks Investment Research upgraded Archrock Partners from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Capital One Financial Corp. upgraded Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Tuesday, June 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.13.
The firm has a 50-day moving average price of $13.56 and a 200-day moving average price of $11.27. The firm’s market capitalization is $851.90 million.
Archrock Partners (NASDAQ:APLP) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business earned $151.40 million during the quarter, compared to analysts’ expectations of $165.34 million. The business’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts predict that Archrock Partners LP will post $0.51 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Monday, August 15th. Investors of record on Tuesday, August 9th will be paid a $0.285 dividend. The ex-dividend date is Friday, August 5th.
A number of institutional investors have recently modified their holdings of APLP. Advisors Asset Management Inc. purchased a new position in shares of Archrock Partners during the fourth quarter valued at about $2,927,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Archrock Partners during the fourth quarter valued at about $10,161,000. Atlantic Trust Group LLC purchased a new position in shares of Archrock Partners during the fourth quarter valued at about $4,924,000. Finally, Morgan Stanley purchased a new position in shares of Archrock Partners during the fourth quarter valued at about $14,622,000.
Archrock Partners, L.P., formerly Exterran Partners, L.P., is engaged in the United States natural gas compression business. The Company provides contract operations services, including the personnel, equipment, tools, materials and supplies to meet its customers’ natural gas compression needs. The Company’s contract operations services primarily include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers.