Archrock Partners LP (APLP) Shares Down 6.6%
Archrock Partners LP (NASDAQ:APLP) shares traded down 6.6% on Monday . The stock traded as low as $13.09 and last traded at $13.26, with a volume of 100,417 shares. The stock had previously closed at $14.19.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $17.00 price target on shares of Archrock Partners in a research note on Thursday, May 5th. Zacks Investment Research lowered shares of Archrock Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Capital One Financial Corp. raised shares of Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $14.00 in a research note on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.13.
The firm’s market cap is $796.06 million. The company has a 50 day moving average price of $13.56 and a 200 day moving average price of $11.32.
Archrock Partners (NASDAQ:APLP) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $151.40 million for the quarter, compared to the consensus estimate of $165.34 million. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Archrock Partners LP will post $0.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Tuesday, August 9th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date is Friday, August 5th.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new position in Archrock Partners during the fourth quarter worth $2,927,000. Kayne Anderson Capital Advisors LP purchased a new position in Archrock Partners during the fourth quarter worth $10,161,000. Atlantic Trust Group LLC purchased a new position in Archrock Partners during the fourth quarter worth $4,924,000. Finally, Morgan Stanley purchased a new position in Archrock Partners during the fourth quarter worth $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.