In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), American Midstream Partners Lp (NYSE:AMID) reported that Magnolia Infrastructure Holdings, Llc. has picked up 13,289,556 of common stock as of 2017-03-13.
The acquisition brings the aggregate amount owned by Magnolia Infrastructure Holdings, Llc. to a total of 13,289,556 representing a 21.2% stake in the company.
For those not familiar with the company, American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas; gathering, transporting, storing, treating and fractionating natural gas liquids (NGLs); gathering, storing and transporting crude oil and condensates, and storing specialty chemical products. It operates through three segments: Gathering and Processing, Transmission and Terminals. The Gathering and Processing Segment consists of midstream natural gas systems that provide services, such as gathering, compression, treating, processing, fractionating, transportation, and sale of natural gas, NGLs and condensate. Its Transmission Segment consists of interstate and intrastate pipelines that transport natural gas from interconnection points on other pipelines or production points to customers. Its Terminals segment provides above-ground storage services at its marine terminals.
A glance at American Midstream Partners Lp (NYSE:AMID)’s key stats reveals a current market capitalization of 823.07 Million based on 31.20 Million shares outstanding and a price at last close of $15.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-01, Arclight picked up 626,304 at a purchase price of $14.32. This brings their total holding to 4,224,284 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on American Midstream Partners Lp (NYSE:AMID) as things move forward to see if its progress aligns with these transactions.
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