American Midstream Partners, LP (AMID) Position Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of American Midstream Partners, LP (NYSE:AMID) by 52.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 31,603 shares of the pipeline company’s stock after selling 35,200 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of American Midstream Partners, worth $469,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hollencrest Securities LLC bought a new stake in American Midstream Partners, during the first quarter valued at about $835,000. Regent Investment Management LLC acquired a new stake in American Midstream Partners, during the first quarter valued at $149,000. Finally, Spirit of America Management Corp NY raised its stake in American Midstream Partners, by 31.5% in the first quarter. Spirit of America Management Corp NY now owns 250,929 shares of the pipeline company’s stock valued at $3,726,000 after buying an additional 60,100 shares during the last quarter. 44.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Midstream Partners, LP (NYSE:AMID) opened at 13.10 on Friday. The company’s market cap is $685.38 million. American Midstream Partners, LP has a 1-year low of $10.39 and a 1-year high of $18.45. The firm’s 50-day moving average is $12.56 and its 200 day moving average is $15.23.

American Midstream Partners, (NYSE:AMID) last issued its earnings results on Wednesday, May 10th. The pipeline company reported ($0.75) EPS for the quarter, missing the consensus estimate of $0.09 by $0.84. The company had revenue of $199.63 million during the quarter. Equities analysts expect that American Midstream Partners, LP will post ($1.71) EPS for the current fiscal year.

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AMID has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $19.00 target price on shares of American Midstream Partners, in a research note on Friday, March 17th. Zacks Investment Research upgraded shares of American Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Finally, ValuEngine lowered shares of American Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. American Midstream Partners, presently has an average rating of “Buy” and a consensus price target of $18.25.

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.

Institutional Ownership by Quarter for American Midstream Partners, (NYSE:AMID)

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