Antero Midstream (NYSE:AM) Price Target Cut to $24.00 by Analysts at Morgan Stanley

Antero Midstream (NYSE:AM) had its price objective reduced by stock analysts at Morgan Stanley from $26.00 to $24.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley‘s price objective would indicate a potential upside of 20.99% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Weiss Ratings upgraded Antero Midstream from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, October 30th. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. UBS Group reduced their target price on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, September 21st. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Finally, Zacks Research cut shares of Antero Midstream from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average target price of $24.00.

Antero Midstream Stock Performance

Shares of AM traded up $0.29 during mid-day trading on Tuesday, reaching $19.84. 488,924 shares of the company’s stock were exchanged, compared to its average volume of 2,642,440. The business’s fifty day simple moving average is $21.07 and its 200-day simple moving average is $21.60. The stock has a market capitalization of $9.37 billion, a PE ratio of 13.98 and a beta of 0.71. Antero Midstream has a 52-week low of $17.12 and a 52-week high of $23.83. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, October 28th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $327.02 million during the quarter, compared to analysts’ expectations of $340.62 million. Antero Midstream had a net margin of 53.45% and a return on equity of 33.53%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities research analysts expect that Antero Midstream will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On Antero Midstream

Institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC acquired a new stake in shares of Antero Midstream in the second quarter valued at about $25,000. Eastern Bank raised its holdings in shares of Antero Midstream by 428.8% in the 3rd quarter. Eastern Bank now owns 1,375 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,115 shares in the last quarter. Clearstead Trust LLC bought a new stake in shares of Antero Midstream in the 2nd quarter worth about $30,000. Ancora Advisors LLC bought a new position in Antero Midstream in the 2nd quarter valued at $38,000. Finally, Root Financial Partners LLC bought a new stake in shares of Antero Midstream during the third quarter valued at approximately $39,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Company Profile

Antero Midstream Corporation owns and operates natural gas gathering, compression and water-handling infrastructure in the Appalachian Basin. Its assets support production in the Marcellus and Utica shale regions of West Virginia and Ohio.

The company’s services include gathering and compression of natural gas, as well as water transportation and related infrastructure used in shale development. Antero Midstream’s operations primarily serve Antero Resources, connecting its production areas with downstream pipelines and supporting its water needs.

Antero Midstream was established in 2014 as Antero Resources’ midstream partnership and later converted to a corporation.