Edgestream Partners L.P. Raises Stock Holdings in Archrock, Inc. (NYSE:AROC)

Edgestream Partners L.P. increased its position in Archrock, Inc. (NYSE:AROC - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,657 shares of the energy company's stock after purchasing an additional 27,672 shares during the period. Edgestream Partners L.P. owned 0.07% of Archrock worth $3,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AROC. Raymond James Financial Inc. bought a new position in Archrock during the 4th quarter valued at approximately $36,241,000. Kayne Anderson Capital Advisors LP increased its holdings in shares of Archrock by 1,680.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company's stock valued at $30,976,000 after acquiring an additional 1,444,471 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Archrock in the 3rd quarter worth about $22,108,000. State Street Corp boosted its stake in Archrock by 11.5% in the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock worth $138,376,000 after purchasing an additional 707,379 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in Archrock during the 3rd quarter valued at about $10,939,000. Institutional investors own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AROC shares. Royal Bank of Canada upped their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.17.

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Archrock Stock Performance

Shares of NYSE AROC traded up $0.35 during midday trading on Wednesday, hitting $24.41. 1,659,406 shares of the stock traded hands, compared to its average volume of 1,424,258. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a one year low of $17.26 and a one year high of $30.44. The firm has a market capitalization of $4.28 billion, a P/E ratio of 26.83, a PEG ratio of 1.60 and a beta of 1.56. The firm has a 50-day moving average of $27.23 and a two-hundred day moving average of $24.02.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Wednesday, February 12th. This is a boost from Archrock's previous quarterly dividend of $0.18. Archrock's dividend payout ratio is 73.08%.

Archrock 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.