Archrock Partners (NASDAQ:APLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Archrock Partners LP is a master limited partnership. The company provides natural gas contract compression services primarily in the United States. Archrock Partners LP, formerly known as Exterran Partners, L.P., is based in Houston, Texas. “
Other research analysts also recently issued reports about the company. BidaskClub raised Archrock Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine downgraded Archrock Partners from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Royal Bank of Canada reissued a “buy” rating and issued a $19.00 price objective on shares of Archrock Partners in a research note on Monday, October 30th. Citigroup began coverage on Archrock Partners in a research note on Friday, October 13th. They issued a “neutral” rating and a $15.50 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded Archrock Partners from an “overweight” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.10.
Archrock Partners (NASDAQ:APLP) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). The business had revenue of $140.19 million during the quarter, compared to analyst estimates of $141.37 million. Archrock Partners had a negative net margin of 3.10% and a positive return on equity of 4.32%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. research analysts predict that Archrock Partners will post 0.27 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Atlantic Trust Group LLC raised its stake in Archrock Partners by 59.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,185,888 shares of the energy company’s stock worth $16,911,000 after buying an additional 441,090 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Archrock Partners during the 3rd quarter worth approximately $338,000. Neuberger Berman Group LLC acquired a new position in Archrock Partners during the 3rd quarter worth approximately $572,000. Cohen & Steers Inc. raised its stake in Archrock Partners by 139.3% during the 3rd quarter. Cohen & Steers Inc. now owns 438,489 shares of the energy company’s stock worth $6,253,000 after buying an additional 255,253 shares during the period. Finally, Franklin Square Holdings L.P. acquired a new position in Archrock Partners during the 3rd quarter worth approximately $214,000. 46.75% of the stock is currently owned by institutional investors and hedge funds.
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About Archrock Partners
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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