Antero Midstream (NYSE:AM) Hits New 52-Week High – Should You Buy?

Antero Midstream Corporation (NYSE:AM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $22.70 and last traded at $22.6630, with a volume of 213721 shares changing hands. The stock had previously closed at $22.48.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. The Goldman Sachs Group increased their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company boosted their target price on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, 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 report on Wednesday, November 12th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.33.

Antero Midstream Stock Up 1.5%

The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The stock has a market cap of $10.80 billion, a P/E ratio of 26.54 and a beta of 0.77. The company’s 50 day moving average price is $19.09 and its two-hundred day moving average price is $18.47.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Equities analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 3.9%. Antero Midstream’s payout ratio is 104.65%.

Insider Transactions at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the completion of the sale, the director owned 72,622 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AM. Vanguard Group Inc. lifted its holdings in Antero Midstream by 0.3% during the third quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock valued at $723,424,000 after purchasing an additional 124,102 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares in the last quarter. State Street Corp lifted its stake in shares of Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock valued at $201,691,000 after buying an additional 187,912 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 buying an additional 1,161,684 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Antero Midstream by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock worth $179,316,000 after buying an additional 71,606 shares in the last quarter. 53.97% of the stock is currently owned by 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.