Alps Advisors Inc. grew its holdings in USA Compression Partners, LP (NYSE:USAC - Free Report) by 18.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,990,511 shares of the oil and gas company's stock after acquiring an additional 2,490,895 shares during the quarter. USA Compression Partners comprises 2.5% of Alps Advisors Inc.'s investment portfolio, making the stock its 9th biggest holding. Alps Advisors Inc. owned about 13.61% of USA Compression Partners worth $431,424,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in USA Compression Partners by 14.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 56,168 shares of the oil and gas company's stock worth $1,515,000 after buying an additional 7,293 shares during the last quarter. Raymond James Financial Inc. purchased a new position in USA Compression Partners during the 4th quarter worth approximately $13,905,000. Mallini Complete Financial Planning LLC purchased a new position in USA Compression Partners during the 4th quarter worth approximately $2,176,000. Corient Private Wealth LLC grew its stake in USA Compression Partners by 28.9% during the 4th quarter. Corient Private Wealth LLC now owns 165,887 shares of the oil and gas company's stock worth $3,908,000 after buying an additional 37,232 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in USA Compression Partners by 94.8% during the 4th quarter. HighTower Advisors LLC now owns 34,935 shares of the oil and gas company's stock worth $823,000 after buying an additional 17,005 shares during the last quarter. Hedge funds and other institutional investors own 47.77% of the company's stock.
Insider Buying and Selling at USA Compression Partners
In related news, Director Bradford D. Whitehurst bought 10,000 shares of the stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $23.50 per share, for a total transaction of $235,000.00. Following the purchase, the director owned 23,616 shares of the company's stock, valued at $554,976. This trade represents a 73.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. restated an "underweight" rating and set a $25.00 price target (up previously from $24.00) on shares of USA Compression Partners in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.25.
Get Our Latest Research Report on USAC
USA Compression Partners Price Performance
Shares of USAC stock traded down $0.06 during midday trading on Thursday, hitting $24.58. The company had a trading volume of 133,286 shares, compared to its average volume of 317,900. The company's 50 day simple moving average is $24.82 and its 200 day simple moving average is $25.41. USA Compression Partners, LP has a 52-week low of $21.06 and a 52-week high of $30.10. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 36.15 and a beta of 0.38.
USA Compression Partners (NYSE:USAC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). USA Compression Partners had a net margin of 9.99% and a negative return on equity of 81.01%. The company had revenue of $245.23 million during the quarter, compared to analysts' expectations of $244.79 million. Analysts anticipate that USA Compression Partners, LP will post 1.05 EPS for the current year.
USA Compression Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Monday, April 28th were paid a $0.525 dividend. This is an increase from USA Compression Partners's previous quarterly dividend of $0.51. This represents a $2.10 annualized dividend and a dividend yield of 8.54%. The ex-dividend date was Monday, April 28th. USA Compression Partners's dividend payout ratio (DPR) is 308.82%.
USA Compression Partners Profile
(
Free Report)
USA Compression Partners, LP provides compression services under term contracts with customers in the natural gas and crude oil industries in the United States. The company engineers, designs, operates, services, and repairs its compression units; and maintains related support inventory and equipment.
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