StockNews.com Lowers Antero Midstream (NYSE:AM) to Hold

StockNews.com lowered shares of Antero Midstream (NYSE:AM) from a buy rating to a hold rating in a report released on Thursday.

Separately, Tudor, Pickering, Holt & Co. downgraded shares of Antero Midstream from a buy rating to a hold rating and raised their price objective for the stock from $12.00 to $13.00 in a research report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $12.70.

Antero Midstream Stock Performance

Antero Midstream stock traded down $0.02 during mid-day trading on Thursday, hitting $14.21. 70,898 shares of the company’s stock traded hands, compared to its average volume of 2,670,201. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 17.79 and a beta of 2.25. The firm has a 50 day simple moving average of $13.63 and a two-hundred day simple moving average of $12.90. Antero Midstream has a fifty-two week low of $9.69 and a fifty-two week high of $14.52. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.95 and a quick ratio of 0.95.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $260.17 million during the quarter, compared to the consensus estimate of $261.04 million. Antero Midstream had a net margin of 36.67% and a return on equity of 20.82%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.20 earnings per share. On average, research analysts expect that Antero Midstream will post 0.96 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.33%. Antero Midstream’s payout ratio is 112.50%.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 16,394 shares of Antero Midstream stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $13.67, for a total value of $224,105.98. Following the transaction, the insider now directly owns 170,266 shares of the company’s stock, valued at $2,327,536.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AM. Norges Bank bought a new stake in shares of Antero Midstream during the fourth quarter worth $54,704,000. Jennison Associates LLC acquired a new position in shares of Antero Midstream during the third quarter worth $11,338,000. BNP Paribas Financial Markets lifted its holdings in shares of Antero Midstream by 1,114.6% during the fourth quarter. BNP Paribas Financial Markets now owns 641,189 shares of the pipeline company’s stock worth $8,034,000 after purchasing an additional 588,397 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Antero Midstream by 157.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 927,325 shares of the pipeline company’s stock worth $11,619,000 after purchasing an additional 566,604 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Antero Midstream by 50.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,513,473 shares of the pipeline company’s stock worth $18,964,000 after purchasing an additional 507,577 shares during the period. 53.97% of the stock is owned by institutional investors.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.