American Midstream Partners, LP (NYSE:AMID) declared a quarterly dividend on Monday, October 30th, Wall Street Journal reports. Stockholders of record on Tuesday, November 7th will be given 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 13.04%. 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 payment by an average of 0.8% per year over the last three years. American Midstream Partners, has a dividend payout ratio of -106.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of American Midstream Partners, (NYSE AMID) opened at $12.65 on Wednesday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.08 and a current ratio of 1.13. American Midstream Partners, has a 52 week low of $11.10 and a 52 week high of $18.45.
AMID has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of American Midstream Partners, from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday, August 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $18.00 price target on shares of American Midstream Partners, in a research note on Monday, July 24th. ValuEngine upgraded shares of American Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub upgraded shares of American Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Citigroup Inc. downgraded shares of American Midstream Partners, from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $16.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. American Midstream Partners, has a consensus rating of “Hold” and a consensus price target of $16.60.
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American Midstream Partners, Company Profile
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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