American Midstream Partners, LP (NYSE:AMID) announced a quarterly dividend on Monday, October 30th, Wall Street Journal reports. Stockholders of record on Tuesday, November 7th will be paid a dividend of 0.4125 per share by the pipeline company on Tuesday, November 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 12.18%. The ex-dividend date of this dividend is Monday, November 6th. This is a boost from American Midstream Partners,’s previous quarterly dividend of $0.41.
American Midstream Partners, has decreased its dividend by an average of 0.8% annually over the last three years. American Midstream Partners, has a payout ratio of -106.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect American Midstream Partners, to earn $0.33 per share next year, which means the company may not be able to cover its $1.65 annual dividend with an expected future payout ratio of 500.0%.
Shares of American Midstream Partners, (NYSE AMID) opened at 13.55 on Wednesday. American Midstream Partners, has a 12 month low of $11.10 and a 12 month high of $18.45. The stock’s 50 day moving average price is $13.64 and its 200-day moving average price is $13.39. The company’s market cap is $714.26 million.
American Midstream Partners, (NYSE:AMID) last released its earnings results on Tuesday, August 8th. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.39). American Midstream Partners, had a negative return on equity of 19.39% and a negative net margin of 10.35%. The business had revenue of $193.63 million for the quarter. Equities research analysts expect that American Midstream Partners, will post ($1.95) earnings per share for the current year.
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AMID has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $14.00 target price (down previously from $18.00) on shares of American Midstream Partners, in a research report on Monday, August 28th. Zacks Investment Research cut American Midstream Partners, from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. BidaskClub lowered American Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, ValuEngine raised American Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.60.
About American Midstream Partners,
American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure that links producers of natural gas, crude oil, natural gas liquids (NGLs), condensate and specialty chemicals to numerous intermediate and end-use markets.
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