HITE Hedge Asset Management LLC lifted its position in Archrock Partners, L.P. (NASDAQ:APLP) by 63.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,842,984 shares of the energy company’s stock after purchasing an additional 715,440 shares during the quarter. Archrock Partners accounts for about 6.8% of HITE Hedge Asset Management LLC’s holdings, making the stock its 5th largest holding. HITE Hedge Asset Management LLC owned approximately 2.63% of Archrock Partners worth $26,281,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new position in shares of Archrock Partners in the 2nd quarter worth about $146,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Archrock Partners during the 3rd quarter valued at about $218,000. Royal Bank of Canada boosted its holdings in Archrock Partners by 2.7% during the 2nd quarter. Royal Bank of Canada now owns 18,242 shares of the energy company’s stock valued at $272,000 after acquiring an additional 486 shares during the period. Texas Yale Capital Corp. boosted its holdings in Archrock Partners by 52.9% during the 2nd quarter. Texas Yale Capital Corp. now owns 18,565 shares of the energy company’s stock valued at $277,000 after acquiring an additional 6,425 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in Archrock Partners during the 2nd quarter valued at about $719,000. Hedge funds and other institutional investors own 42.96% of the company’s stock.
Several equities research analysts recently weighed in on APLP shares. BidaskClub upgraded Archrock Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Archrock Partners from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Royal Bank Of Canada upgraded Archrock Partners from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $18.00 to $19.00 in a report on Wednesday, August 23rd. They noted that the move was a valuation call. Finally, Citigroup Inc. started coverage on Archrock Partners in a report on Friday, October 13th. They set a “neutral” rating and a $15.50 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.13.
Shares of Archrock Partners, L.P. (APLP) opened at $11.40 on Monday. The firm has a market capitalization of $800.12, a PE ratio of 34.55, a P/E/G ratio of 2.67 and a beta of 2.29. Archrock Partners, L.P. has a fifty-two week low of $11.02 and a fifty-two week high of $18.55. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.49.
Archrock Partners (NASDAQ:APLP) last released its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). The business had revenue of $140.19 million for the quarter, compared to the consensus estimate of $141.37 million. Archrock Partners had a negative net margin of 3.10% and a positive return on equity of 4.32%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. equities analysts predict that Archrock Partners, L.P. will post 0.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 8th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date was Tuesday, November 7th. Archrock Partners’s payout ratio is -422.21%.
Archrock Partners Company Profile
Archrock Partners, L.P. is engaged in natural gas compression industry in the United States. The Company’s contract operations services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers.
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