Antero Midstream (NYSE:AM) Given New $21.00 Price Target at Wells Fargo & Company

Antero Midstream (NYSE:AM) had its price objective increased by investment analysts at Wells Fargo & Company from $20.00 to $21.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 0.45% from the company’s previous close.

Several other analysts have also recently issued reports on AM. Morgan Stanley upped 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 lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen cut shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Antero Midstream Stock Up 3.2%

Shares of NYSE AM opened at $21.10 on Friday. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 24.45 and a beta of 0.81. The company’s 50-day simple moving average is $18.28 and its 200-day simple moving average is $18.19. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $21.11.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). Antero Midstream had a return on equity of 19.86% and a net margin of 34.77%.The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Antero Midstream will post 0.95 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $87,950.00. Following the completion of the transaction, the director directly owned 72,622 shares of the company’s stock, valued at $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AM. Bank of New York Mellon Corp grew its stake in shares of Antero Midstream by 22.3% during the 3rd 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 buying an additional 1,430,138 shares during the period. US Bancorp DE raised its stake in shares of Antero Midstream by 1.6% in the 2nd quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after acquiring an additional 610 shares during the period. Oppenheimer & Co. Inc. boosted its position in Antero Midstream by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock worth $9,812,000 after purchasing an additional 146,300 shares during the period. Franklin Resources Inc. increased its holdings in Antero Midstream by 54.3% in the 2nd quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock valued at $11,637,000 after purchasing an additional 216,022 shares in the last quarter. Finally, Boston Trust Walden Corp raised its holdings in shares of Antero Midstream by 5.5% during the 3rd quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock valued at $72,667,000 after buying an additional 194,480 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

About Antero Midstream

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.