Antero Midstream (NYSE:AM) Posts Earnings Results

Antero Midstream (NYSE:AM) posted its quarterly earnings data on Wednesday. The pipeline company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13), Zacks reports. Antero Midstream had a return on equity of 22.61% and a net margin of 40.07%.The company had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year.

Antero Midstream Price Performance

Shares of NYSE:AM traded up $0.59 during trading on Wednesday, reaching $20.49. The company had a trading volume of 4,717,871 shares, compared to its average volume of 2,874,711. Antero Midstream has a twelve month low of $15.07 and a twelve month high of $20.54. The firm has a market capitalization of $9.76 billion, a PE ratio of 20.91 and a beta of 0.81. The firm’s fifty day moving average is $18.18 and its 200 day moving average is $18.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, January 28th. Antero Midstream’s payout ratio is currently 91.84%.

Analyst Upgrades and Downgrades

AM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, December 23rd. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Morgan Stanley lifted their price target on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.17.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the completion of the sale, the director owned 72,622 shares in the company, valued at approximately $1,277,420.98. This represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Antero Midstream

Several hedge funds have recently modified their holdings of AM. Royal Bank of Canada lifted its holdings in shares of Antero Midstream by 0.8% during the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock worth $3,256,000 after acquiring an additional 1,371 shares during the period. AQR Capital Management LLC boosted its stake in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after purchasing an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after buying an additional 1,400,368 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Antero Midstream by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after acquiring an additional 43,335 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Antero Midstream by 5.9% in the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock worth $344,000 after acquiring an additional 1,009 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.