Hennion & Walsh Asset Management Inc. Buys 796 Shares of Archrock, Inc. (NYSE:AROC)

Hennion & Walsh Asset Management Inc. boosted its position in Archrock, Inc. (NYSE:AROC) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,091 shares of the energy company’s stock after acquiring an additional 796 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Archrock were worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Archrock by 1,680.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after purchasing an additional 1,444,471 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Archrock in the 3rd quarter worth approximately $22,108,000. Millennium Management LLC boosted its stake in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after buying an additional 882,024 shares in the last quarter. State Street Corp grew its position in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after acquiring an additional 707,379 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Archrock during the third quarter worth approximately $10,939,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AROC shares. Royal Bank of Canada upped their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Evercore ISI initiated coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Citigroup began coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 target price for the company. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archrock presently has an average rating of “Moderate Buy” and an average price target of $25.17.

Archrock Stock Up 0.7 %

NYSE AROC opened at $29.78 on Friday. The business’s 50-day moving average is $25.44 and its 200 day moving average is $22.21. The stock has a market capitalization of $5.22 billion, a PE ratio of 32.72, a PEG ratio of 1.58 and a beta of 1.58. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a 1 year low of $14.71 and a 1 year high of $30.00.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. Sell-side analysts forecast that Archrock, Inc. will post 1.12 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 2.35%. Archrock’s dividend payout ratio is 76.92%.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.