Archrock Partners LP (APLP) Sees Large Volume Increase
Shares of Archrock Partners LP (NASDAQ:APLP) saw an uptick in trading volume on Wednesday . 159,303 shares traded hands during trading, an increase of 37% from the previous session’s volume of 116,017 shares.The stock last traded at $14.73 and had previously closed at $15.00.
Several research firms have recently commented on APLP. JPMorgan Chase & Co. restated a “buy” rating and set a $17.00 price objective on shares of Archrock Partners in a report on Thursday, May 5th. Zacks Investment Research downgraded Archrock Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Credit Suisse Group AG set a $17.00 price objective on Archrock Partners and gave the company a “buy” rating in a report on Friday, August 5th. RBC Capital Markets restated a “sector perform” rating and set a $14.00 price objective (up previously from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Finally, Capital One Financial Corp. upgraded Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Archrock Partners has a consensus rating of “Buy” and a consensus price target of $14.89.
The stock’s 50-day moving average price is $14.25 and its 200 day moving average price is $12.26. The firm’s market capitalization is $902.93 million.
Archrock Partners (NASDAQ:APLP) last posted its earnings results on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The company earned $140.05 million during the quarter, compared to analyst estimates of $146.04 million. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts expect that Archrock Partners LP will post $0.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Tuesday, August 9th were paid a $0.285 dividend. The ex-dividend date was Friday, August 5th. This represents a $1.14 annualized dividend and a dividend yield of 7.58%.
A hedge fund recently bought a new stake in Archrock Partners stock. Morgan Stanley purchased a new position in shares of Archrock Partners LP (NASDAQ:APLP) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 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 reporting period.
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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