Archrock Partners LP (APLP) Shares Up 1.6%
Archrock Partners LP (NASDAQ:APLP)’s share price shot up 1.6% during trading on Friday . The stock traded as high as $14.84 and last traded at $14.48, with a volume of 83,418 shares traded. The stock had previously closed at $14.25.
Several brokerages have recently commented on APLP. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $17.00 price target on shares of Archrock Partners in a research report on Thursday, May 5th. Zacks Investment Research raised shares of Archrock Partners from a “sell” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price target (up previously from $8.00) on shares of Archrock Partners in a research report on Friday, August 5th. Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $14.00 in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG set a $17.00 price target on shares of Archrock Partners and gave the stock a “buy” rating in a research report on Friday, August 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Archrock Partners has an average rating of “Buy” and an average target price of $14.89.
The firm has a 50 day moving average of $14.22 and a 200-day moving average of $12.05. The firm’s market cap is $868.11 million.
Archrock Partners (NASDAQ:APLP) last announced its earnings results on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm earned $140.05 million during the quarter, compared to the consensus estimate of $146.04 million. The business’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. Equities research analysts expect that Archrock Partners LP will post $0.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Tuesday, August 9th were issued a $0.285 dividend. The ex-dividend date was Friday, August 5th. This represents a $1.14 annualized dividend and a yield of 7.88%.
A hedge fund recently bought a new stake in Archrock Partners stock. Morgan Stanley bought a new stake in Archrock Partners LP (NASDAQ:APLP) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 1,187,887 shares of the company’s stock, valued at approximately $14,622,000. Morgan Stanley owned about 1.99% of Archrock Partners at the end of the most recent quarter.
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.
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