Archrock Partners, L.P. (APLP) Expected to Post Quarterly Sales of $140.85 Million

Wall Street brokerages expect Archrock Partners, L.P. (NASDAQ:APLP) to post $140.85 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Archrock Partners, L.P.’s earnings. The highest sales estimate is $141.15 million and the lowest is $140.56 million. Archrock Partners, L.P. posted sales of $135.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The firm is expected to report its next earnings results on Monday, October 30th.

On average, analysts expect that Archrock Partners, L.P. will report full year sales of $140.85 million for the current financial year, with estimates ranging from $560.16 million to $561.51 million. For the next financial year, analysts anticipate that the business will post sales of $626.91 million per share, with estimates ranging from $620.75 million to $633.06 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Archrock Partners, L.P..

Archrock Partners, L.P. (NASDAQ:APLP) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Archrock Partners, L.P. had a negative net margin of 2.49% and a positive return on equity of 6.02%. The firm had revenue of $138.30 million for the quarter, compared to the consensus estimate of $137.10 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year.

APLP has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $20.00 target price on shares of Archrock Partners, L.P. in a research note on Friday, April 21st. Zacks Investment Research cut Archrock Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) cut Archrock Partners, L.P. from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Monday, May 29th. Capital One Financial Corporation cut Archrock Partners, L.P. from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 23rd. Finally, BidaskClub cut Archrock Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $18.33.

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Archrock Partners, L.P. (NASDAQ:APLP) opened at 13.195 on Wednesday. The stock’s 50 day moving average is $14.53 and its 200 day moving average is $16.17. Archrock Partners, L.P. has a 12-month low of $12.56 and a 12-month high of $18.55. The firm’s market cap is $865.26 million.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Tuesday, August 8th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 8.64%. The ex-dividend date is Friday, August 4th. Archrock Partners, L.P.’s dividend payout ratio (DPR) is -518.16%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLP. OppenheimerFunds Inc. raised its position in Archrock Partners, L.P. by 7.1% in the first quarter. OppenheimerFunds Inc. now owns 7,907,881 shares of the energy company’s stock valued at $135,699,000 after buying an additional 524,530 shares during the period. Goldman Sachs Group Inc. raised its position in Archrock Partners, L.P. by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,831 shares of the energy company’s stock valued at $61,104,000 after buying an additional 175,315 shares during the period. Morgan Stanley raised its position in Archrock Partners, L.P. by 6.4% in the first quarter. Morgan Stanley now owns 1,944,287 shares of the energy company’s stock valued at $33,364,000 after buying an additional 117,163 shares during the period. HITE Hedge Asset Management LLC raised its position in Archrock Partners, L.P. by 11.2% in the first quarter. HITE Hedge Asset Management LLC now owns 1,143,834 shares of the energy company’s stock valued at $19,628,000 after buying an additional 115,399 shares during the period. Finally, Atlantic Trust Group LLC raised its position in Archrock Partners, L.P. by 1.0% in the first quarter. Atlantic Trust Group LLC now owns 618,879 shares of the energy company’s stock valued at $10,620,000 after buying an additional 6,326 shares during the period. 46.48% of the stock is currently owned by institutional investors.

About Archrock Partners, L.P.

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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