Antero Midstream (NYSE:AM) Hits New 1-Year High – Should You Buy?

Antero Midstream Corporation (NYSE:AM) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.20 and last traded at $20.0090, with a volume of 237201 shares traded. The stock had previously closed at $19.74.

Wall Street Analysts Forecast Growth

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

Antero Midstream Stock Performance

The firm has a 50 day moving average of $18.14 and a two-hundred day moving average of $18.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $9.57 billion, a PE ratio of 20.47 and a beta of 0.81.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, January 28th. Antero Midstream’s payout ratio is currently 91.84%.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s 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 sale, the director directly owned 72,622 shares in the company, valued at approximately $1,277,420.98. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Antero Midstream by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock worth $723,424,000 after buying an additional 124,102 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after purchasing an additional 1,161,684 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Antero Midstream by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock valued at $179,316,000 after acquiring an additional 71,606 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Antero Midstream by 22.3% in the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after purchasing an additional 1,430,138 shares during the period. Finally, Norges Bank bought a new stake in shares of Antero Midstream during the second quarter valued at about $80,504,000. 53.97% of the stock is currently owned by hedge funds and other 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.