Wall Street analysts expect that Altus Midstream (NASDAQ:ALTM) will announce $0.48 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Altus Midstream’s earnings. Altus Midstream reported earnings per share of $175.40 during the same quarter last year, which would indicate a negative year over year growth rate of 99.7%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 24th.
On average, analysts expect that Altus Midstream will report full-year earnings of ($1.74) per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will report earnings of $4.88 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Altus Midstream.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Altus Midstream from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Wednesday, February 3rd. Barclays raised their target price on Altus Midstream from $12.00 to $24.00 and gave the company an “underweight” rating in a research report on Friday, December 4th. Finally, Credit Suisse Group increased their price target on shares of Altus Midstream from $10.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday, December 11th.
NASDAQ ALTM opened at $54.98 on Tuesday. The stock has a market capitalization of $893.21 million, a P/E ratio of -0.55 and a beta of 3.97. Altus Midstream has a one year low of $9.40 and a one year high of $56.15. The company has a debt-to-equity ratio of 7.97, a current ratio of 1.23 and a quick ratio of 1.01. The business has a 50 day simple moving average of $50.70 and a 200 day simple moving average of $39.44.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Friday, February 26th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 10.91%. The ex-dividend date of this dividend is Thursday, February 25th.
Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp bought a new position in Altus Midstream in the 4th quarter worth approximately $245,000. Vident Investment Advisory LLC bought a new stake in shares of Altus Midstream during the 4th quarter valued at $257,000. Change Path LLC purchased a new stake in shares of Altus Midstream in the fourth quarter worth about $276,000. Pacer Advisors Inc. bought a new position in shares of Altus Midstream in the fourth quarter valued at approximately $276,000. Finally, Renaissance Technologies LLC purchased a new position in Altus Midstream during the fourth quarter valued at approximately $797,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.
About Altus Midstream
Altus Midstream Company owns gas gathering, processing, and transmission assets in the Permian Basin of West Texas. As of December 31, 2019, its assets included approximately 178 miles of in-service natural gas gathering, 55 miles of residue gas, and 38 miles of natural gas liquids (NGL) pipelines; three cryogenic processing trains; and an NGL truck loading terminal with six lease automatic custody transfer units and eight NGL bullet tanks.
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