RBC Capital Reiterates a Buy Rating on American Midstreampartners Lp

By Ryan Adsit

In a report released yesterday, Elvira Scotto from RBC Capital reiterated a Buy rating on American Midstreampartners Lp (NYSE: AMID), with a price target of $19. The company’s shares closed yesterday at $15.30.

According to TipRanks.com, Scotto is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as Sanchez Production Partners, Enbridge Energy Management, and Penntex Midstream Partners.

American Midstreampartners Lp has an analyst consensus of Moderate Buy, with a price target consensus of $19.

Based on American Midstreampartners Lp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $67.41 million and quarterly net profit of $5.47 million. In comparison, last year the company earned revenue of $48.55 million and had a GAAP net loss of $122 million.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMID in relation to earlier this year. Most recently, in January 2017, Gerald Tywoniuk, a Director at AMID sold 1,510 shares for a total of $27,558.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

American Midstream Partners LP is engaged in gathering and processing segment includes natural gas transportation, gathering, treating, processing, fractionation, and marketing or re-delivery of natural gas and natural gas liquids. It operates through three segments: Gathering & Processing, Transmission and Terminals. The Gathering and Processing segment provides wellhead to market services to producers of natural gas and oil, which include transporting raw natural gas from the wellhead through gathering systems, treating the raw natural gas, processing raw natural gas and selling or delivering pipeline quality natural gas to various markets and pipeline systems. The Transmission segment transports and delivers natural gas from producing wells, receipt points or pipeline interconnects for shippers and other customers, including local distribution companies, utilities and industrial, commercial and power generation customers. Terminals segment are equipped to store a range of petroleum, chemical, and agricultural products. The company was founded on August 20, 2009 and is headquartered in Houston, TX.