Edgestream Partners L.P. Purchases 27,672 Shares of Archrock, Inc. (NYSE:AROC)

Edgestream Partners L.P. increased its position in Archrock, Inc. (NYSE:AROC) by 27.1% in the fourth 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 quarter. Edgestream Partners L.P. owned approximately 0.07% of Archrock worth $3,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Archrock during the 4th quarter worth approximately $36,241,000. Kayne Anderson Capital Advisors LP boosted its stake in Archrock by 1,680.2% in 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 during the last quarter. Eagle Asset Management Inc. acquired a new stake in Archrock during the 3rd quarter worth $22,108,000. State Street Corp raised its position in shares of Archrock by 11.5% during the 3rd 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 acquired a new position in shares of Archrock in the 3rd quarter valued at $10,939,000. 95.45% of the stock is owned by institutional investors.

Archrock Stock Performance

Shares of NYSE AROC opened at $23.71 on Friday. The stock has a market capitalization of $4.16 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. Archrock, Inc. has a 52 week low of $17.26 and a 52 week high of $30.44. The stock has a 50 day moving average price of $27.28 and a 200 day moving average price of $23.94. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.21%. Archrock’s dividend payout ratio (DPR) is currently 73.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AROC. Royal Bank of Canada lifted their price objective on 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. upped their price target on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.17.

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.