Intrinsic value of Archrock Partners - APLP

Previous Close

$13.21

  Intrinsic Value

$1.88

stock screener

  Rating & Target

str. sell

-86%

Previous close

$13.21

 
Intrinsic value

$1.88

 
Up/down potential

-86%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of APLP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -14.46
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
Revenue, $m
  562
  583
  605
  629
  654
  682
  710
  741
  774
  808
  844
  883
  923
  966
  1,011
  1,059
  1,109
  1,161
  1,217
  1,275
  1,337
  1,402
  1,470
  1,541
  1,617
  1,696
  1,779
  1,867
  1,958
  2,055
  2,156
Variable operating expenses, $m
 
  590
  612
  637
  662
  690
  719
  750
  783
  818
  854
  893
  934
  977
  1,023
  1,071
  1,122
  1,175
  1,232
  1,291
  1,353
  1,419
  1,487
  1,560
  1,636
  1,716
  1,800
  1,889
  1,982
  2,080
  2,182
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  494
  590
  612
  637
  662
  690
  719
  750
  783
  818
  854
  893
  934
  977
  1,023
  1,071
  1,122
  1,175
  1,232
  1,291
  1,353
  1,419
  1,487
  1,560
  1,636
  1,716
  1,800
  1,889
  1,982
  2,080
  2,182
Operating income, $m
  69
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -24
  -25
  -26
EBITDA, $m
  223
  153
  159
  166
  172
  179
  187
  195
  204
  213
  222
  232
  243
  254
  266
  279
  292
  306
  320
  336
  352
  369
  387
  406
  425
  446
  468
  491
  515
  541
  567
Interest expense (income), $m
  74
  73
  75
  78
  82
  85
  89
  92
  96
  101
  105
  110
  115
  121
  126
  132
  139
  145
  152
  160
  167
  176
  184
  193
  203
  213
  223
  234
  246
  258
  271
Earnings before tax, $m
  -9
  -80
  -83
  -86
  -89
  -93
  -97
  -101
  -106
  -110
  -115
  -121
  -126
  -132
  -138
  -145
  -152
  -159
  -167
  -175
  -183
  -192
  -202
  -212
  -222
  -233
  -245
  -257
  -269
  -283
  -297
Tax expense, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -11
  -80
  -83
  -86
  -89
  -93
  -97
  -101
  -106
  -110
  -115
  -121
  -126
  -132
  -138
  -145
  -152
  -159
  -167
  -175
  -183
  -192
  -202
  -212
  -222
  -233
  -245
  -257
  -269
  -283
  -297

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,903
  1,976
  2,051
  2,132
  2,219
  2,311
  2,408
  2,512
  2,622
  2,739
  2,862
  2,992
  3,129
  3,274
  3,427
  3,588
  3,758
  3,937
  4,125
  4,323
  4,532
  4,751
  4,982
  5,225
  5,480
  5,749
  6,031
  6,327
  6,639
  6,966
  7,310
Adjusted assets (=assets-cash), $m
  1,903
  1,976
  2,051
  2,132
  2,219
  2,311
  2,408
  2,512
  2,622
  2,739
  2,862
  2,992
  3,129
  3,274
  3,427
  3,588
  3,758
  3,937
  4,125
  4,323
  4,532
  4,751
  4,982
  5,225
  5,480
  5,749
  6,031
  6,327
  6,639
  6,966
  7,310
Revenue / Adjusted assets
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
  0.295
Average production assets, $m
  1,871
  1,940
  2,014
  2,094
  2,179
  2,269
  2,365
  2,467
  2,575
  2,689
  2,810
  2,938
  3,073
  3,215
  3,366
  3,524
  3,691
  3,866
  4,051
  4,246
  4,451
  4,666
  4,893
  5,131
  5,382
  5,645
  5,922
  6,214
  6,520
  6,841
  7,179
Working capital, $m
  39
  40
  42
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
  67
  70
  73
  76
  80
  84
  88
  92
  97
  101
  106
  112
  117
  123
  129
  135
  142
  149
Total debt, $m
  1,343
  1,396
  1,451
  1,510
  1,573
  1,640
  1,711
  1,786
  1,866
  1,950
  2,040
  2,134
  2,234
  2,339
  2,450
  2,567
  2,690
  2,820
  2,957
  3,101
  3,252
  3,412
  3,579
  3,755
  3,941
  4,135
  4,340
  4,555
  4,782
  5,019
  5,269
Total liabilities, $m
  1,381
  1,434
  1,489
  1,548
  1,611
  1,678
  1,749
  1,824
  1,904
  1,988
  2,078
  2,172
  2,272
  2,377
  2,488
  2,605
  2,728
  2,858
  2,995
  3,139
  3,290
  3,450
  3,617
  3,793
  3,979
  4,173
  4,378
  4,593
  4,820
  5,057
  5,307
Total equity, $m
  522
  541
  562
  584
  608
  633
  660
  688
  718
  750
  784
  820
  857
  897
  939
  983
  1,030
  1,079
  1,130
  1,185
  1,242
  1,302
  1,365
  1,432
  1,502
  1,575
  1,652
  1,734
  1,819
  1,909
  2,003
Total liabilities and equity, $m
  1,903
  1,975
  2,051
  2,132
  2,219
  2,311
  2,409
  2,512
  2,622
  2,738
  2,862
  2,992
  3,129
  3,274
  3,427
  3,588
  3,758
  3,937
  4,125
  4,324
  4,532
  4,752
  4,982
  5,225
  5,481
  5,748
  6,030
  6,327
  6,639
  6,966
  7,310
Debt-to-equity ratio
  2.573
  2.580
  2.580
  2.580
  2.590
  2.590
  2.590
  2.590
  2.600
  2.600
  2.600
  2.600
  2.610
  2.610
  2.610
  2.610
  2.610
  2.610
  2.620
  2.620
  2.620
  2.620
  2.620
  2.620
  2.620
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
Adjusted equity ratio
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -11
  -80
  -83
  -86
  -89
  -93
  -97
  -101
  -106
  -110
  -115
  -121
  -126
  -132
  -138
  -145
  -152
  -159
  -167
  -175
  -183
  -192
  -202
  -212
  -222
  -233
  -245
  -257
  -269
  -283
  -297
Depreciation, amort., depletion, $m
  154
  160
  166
  173
  180
  188
  195
  204
  213
  222
  232
  243
  254
  266
  278
  291
  305
  320
  335
  351
  368
  386
  404
  424
  445
  467
  489
  514
  539
  565
  593
Funds from operations, $m
  230
  81
  84
  87
  91
  94
  98
  103
  107
  112
  117
  122
  128
  134
  140
  146
  153
  160
  168
  176
  184
  193
  203
  212
  223
  233
  245
  257
  269
  283
  296
Change in working capital, $m
  17
  1
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
Cash from operations, $m
  213
  79
  82
  85
  89
  93
  96
  101
  105
  109
  114
  119
  125
  131
  137
  143
  150
  157
  164
  172
  180
  189
  198
  207
  217
  228
  239
  251
  263
  276
  289
Maintenance CAPEX, $m
  0
  -155
  -160
  -166
  -173
  -180
  -188
  -195
  -204
  -213
  -222
  -232
  -243
  -254
  -266
  -278
  -291
  -305
  -320
  -335
  -351
  -368
  -386
  -404
  -424
  -445
  -467
  -489
  -514
  -539
  -565
New CAPEX, $m
  -62
  -69
  -74
  -80
  -85
  -90
  -96
  -102
  -108
  -114
  -121
  -128
  -135
  -142
  -150
  -158
  -167
  -176
  -185
  -195
  -205
  -216
  -227
  -238
  -251
  -264
  -277
  -291
  -306
  -322
  -338
Cash from investing activities, $m
  -47
  -224
  -234
  -246
  -258
  -270
  -284
  -297
  -312
  -327
  -343
  -360
  -378
  -396
  -416
  -436
  -458
  -481
  -505
  -530
  -556
  -584
  -613
  -642
  -675
  -709
  -744
  -780
  -820
  -861
  -903
Free cash flow, $m
  166
  -144
  -152
  -160
  -169
  -178
  -187
  -197
  -207
  -218
  -229
  -241
  -253
  -266
  -279
  -293
  -308
  -324
  -340
  -358
  -376
  -395
  -415
  -435
  -457
  -480
  -505
  -530
  -557
  -585
  -614
Issuance/(repayment) of debt, $m
  -74
  53
  55
  59
  63
  67
  71
  75
  80
  85
  89
  94
  100
  105
  111
  117
  123
  130
  137
  144
  151
  159
  168
  176
  185
  195
  205
  215
  226
  238
  250
Issuance/(repurchase) of shares, $m
  0
  99
  103
  108
  113
  118
  124
  130
  136
  142
  149
  156
  164
  172
  180
  189
  198
  208
  218
  229
  241
  253
  265
  278
  292
  307
  322
  338
  355
  373
  391
Cash from financing (excl. dividends), $m  
  -74
  152
  158
  167
  176
  185
  195
  205
  216
  227
  238
  250
  264
  277
  291
  306
  321
  338
  355
  373
  392
  412
  433
  454
  477
  502
  527
  553
  581
  611
  641
Total cash flow (excl. dividends), $m
  92
  8
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  25
  26
  27
Retained Cash Flow (-), $m
  26
  -99
  -103
  -108
  -113
  -118
  -124
  -130
  -136
  -142
  -149
  -156
  -164
  -172
  -180
  -189
  -198
  -208
  -218
  -229
  -241
  -253
  -265
  -278
  -292
  -307
  -322
  -338
  -355
  -373
  -391
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -91
  -97
  -102
  -106
  -111
  -116
  -122
  -127
  -133
  -139
  -146
  -153
  -161
  -168
  -176
  -185
  -194
  -204
  -214
  -224
  -235
  -247
  -259
  -272
  -286
  -300
  -315
  -330
  -347
  -364
Discount rate, %
 
  10.60
  11.13
  11.69
  12.27
  12.88
  13.53
  14.21
  14.92
  15.66
  16.44
  17.27
  18.13
  19.04
  19.99
  20.99
  22.04
  23.14
  24.30
  25.51
  26.79
  28.12
  29.53
  31.01
  32.56
  34.19
  35.90
  37.69
  39.57
  41.55
  43.63
PV of cash for distribution, $m
 
  -82
  -79
  -73
  -67
  -61
  -54
  -48
  -42
  -36
  -30
  -25
  -21
  -17
  -13
  -10
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  90.3
  81.4
  73.4
  66.1
  59.5
  53.6
  48.2
  43.3
  38.9
  35.0
  31.4
  28.2
  25.3
  22.7
  20.4
  18.3
  16.4
  14.7
  13.2
  11.8
  10.6
  9.5
  8.5
  7.6
  6.8
  6.1
  5.5
  4.9
  4.4
  3.9

Archrock Partners, L.P. is engaged in natural gas compression industry in the United States. The Company's contract operations services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers. It provides contract operations services, including the personnel, equipment, tools, materials and supplies to meet its customers' natural gas compression needs. Archrock General Partner, L.P., its general partner, is a subsidiary of Archrock and has responsibility for conducting its business and for managing its operations. The Company utilizes both slow and high speed reciprocating compressors primarily driven by internal natural gas fired combustion engines. Its customers include companies engaged in various aspects of the oil and natural gas industry, including natural gas producers, processors, gatherers, transporters and storage providers.

FINANCIAL RATIOS  of  Archrock Partners (APLP)

Valuation Ratios
P/E Ratio -78.7
Price to Sales 1.5
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 4.1
Price to Free Cash Flow 5.7
Growth Rates
Sales Growth Rate -14.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -72.9%
Cap. Spend. - 3 Yr. Gr. Rate -18.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 257.3%
Total Debt to Equity 257.3%
Interest Coverage 1
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 3.3%
Return On Total Capital -0.6%
Ret/ On T. Cap. - 3 Yr. Avg. -0.4%
Return On Equity -2.1%
Return On Equity - 3 Yr. Avg. -2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 62.8%
Gross Margin - 3 Yr. Avg. 60.8%
EBITDA Margin 39%
EBITDA Margin - 3 Yr. Avg. 33.8%
Operating Margin 12.1%
Oper. Margin - 3 Yr. Avg. 10.6%
Pre-Tax Margin -1.6%
Pre-Tax Margin - 3 Yr. Avg. -1.1%
Net Profit Margin -2%
Net Profit Margin - 3 Yr. Avg. -1.4%
Effective Tax Rate -22.2%
Eff/ Tax Rate - 3 Yr. Avg. -7.3%
Payout Ratio -836.4%

APLP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the APLP stock intrinsic value calculation we used $562 million for the last fiscal year's total revenue generated by Archrock Partners. The default revenue input number comes from 2016 income statement of Archrock Partners. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our APLP stock valuation model: a) initial revenue growth rate of 3.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.6%, whose default value for APLP is calculated based on our internal credit rating of Archrock Partners, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Archrock Partners.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of APLP stock the variable cost ratio is equal to 101.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for APLP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Archrock Partners.

Corporate tax rate of 27% is the nominal tax rate for Archrock Partners. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the APLP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for APLP are equal to 332.9%.

Life of production assets of 12.1 years is the average useful life of capital assets used in Archrock Partners operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for APLP is equal to 6.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $522 million for Archrock Partners - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 69.479 million for Archrock Partners is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Archrock Partners at the current share price and the inputted number of shares is $0.9 billion.

RELATED COMPANIES Price Int.Val. Rating
AROC Archrock 9.45 2.51  str.sell
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CCLP CSI Compressco 6.86 1.05  str.sell
EXTN Exterran 27.10 3.87  str.sell

COMPANY NEWS

▶ [$$] Goldman: Four Small-Cap Stocks It's Buying   [Feb-06-18 02:16PM  Barrons.com]
▶ Barclays Downgraded 9 MLPs Last Week   [Jan-25-18 01:14PM  Market Realist]
▶ Can USA Compression Partners Gain Upward Momentum?   [Jan-22-18 03:16PM  Market Realist]
▶ Archrock Partners Announces Quarterly Cash Distribution   [Jan-18-18 07:02PM  GlobeNewswire]
▶ Archrock Announces Quarterly Cash Dividend   [07:02PM  GlobeNewswire]
▶ MLP Rating Updates for Week Ended January 5   [Jan-08-18 02:20PM  Market Realist]
▶ Archrock to acquire remaining stake in its MLP in $607M deal   [Jan-03-18 09:40AM  American City Business Journals]
▶ Houston energy services co. and MLP hire interim CFO   [Dec-26-17 08:55AM  American City Business Journals]
▶ APLP Ranks Second in Terms of Upside Potential among MLPs   [Dec-08-17 11:59PM  Market Realist]
▶ Last Weeks Worst-Performing MLPs   [Nov-21-17 02:24PM  Market Realist]
▶ Archrock Partners reports 3Q loss   [Nov-02-17 06:17AM  Associated Press]
▶ Archrock Partners Announces Quarterly Cash Distribution   [Oct-23-17 08:01AM  GlobeNewswire]
▶ Archrock Announces Quarterly Cash Dividend   [08:00AM  GlobeNewswire]
▶ Archrock, Inc. to Present at Johnson Rice Energy Conference   [Sep-25-17 06:00AM  GlobeNewswire]
▶ MLP Rating Updates for the Week Ended September 1   [Sep-05-17 03:06PM  Market Realist]
▶ MLP Rating Updates for the Week Ending August 25   [Aug-29-17 02:06PM  Market Realist]
▶ Houston energy co. hires former Norton Rose Fulbright, Enterprise Products lawyer   [Aug-07-17 09:35AM  American City Business Journals]
▶ Archrock Partners Announces Public Offering of Common Units   [Aug-03-17 04:06PM  GlobeNewswire]
▶ Archrock Partners beats 2Q profit forecasts   [Aug-01-17 10:58PM  Associated Press]
▶ New Strong Sell Stocks for July 28th   [Jul-28-17 09:01AM  Zacks]
▶ Archrock Partners Announces Cash Distribution   [Jul-26-17 06:40PM  GlobeNewswire]
▶ Here's Why Shares of Archrock Declined 13.6% in May   [Jun-09-17 10:01AM  Motley Fool]
▶ Key Ratings Changes for MLPs Last Week: AM and APLP   [Jun-05-17 04:29PM  Market Realist]
▶ Archrock Partners to Participate in Investor Meetings   [May-22-17 06:57PM  GlobeNewswire]
▶ Archrock Partners reports 1Q loss   [06:12AM  Associated Press]
▶ Archrock Partners Announces Cash Distribution   [Apr-26-17 06:00PM  GlobeNewswire]
▶ Archrock Partners reports 4Q loss   [10:15AM  Associated Press]
▶ Archrock Partners Announces Cash Distribution   [Jan-19-17 07:00PM  GlobeNewswire]
Financial statements of APLP
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