Antero Midstream (NYSE:AM) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Antero Midstream (NYSE:AM) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04, FiscalAI reports. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million.

Antero Midstream Price Performance

NYSE:AM traded up $0.59 during trading hours on Wednesday, hitting $20.49. The company’s stock had a trading volume of 4,717,747 shares, compared to its average volume of 2,874,707. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $20.54. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26. The business’s 50-day moving average is $18.18 and its two-hundred day moving average is $18.15. The company has a market capitalization of $9.76 billion, a PE ratio of 20.91 and a beta of 0.81.

Antero Midstream Dividend Announcement

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 given a $0.225 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 4.4%. Antero Midstream’s dividend payout ratio is presently 91.84%.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the transaction, the director owned 72,622 shares in the company, valued at $1,277,420.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after acquiring an additional 2,224 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Antero Midstream in the second quarter valued at about $123,000. Quadrant Capital Group LLC acquired a new stake in shares of Antero Midstream in the third quarter valued at approximately $140,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Antero Midstream by 21.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,556 shares of the pipeline company’s stock worth $143,000 after purchasing an additional 1,323 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Ratings Changes

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

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.