Antero Midstream (NYSE:AM) Given New $23.00 Price Target at Wells Fargo & Company

Antero Midstream (NYSE:AM) had its price objective raised by equities research analysts at Wells Fargo & Company from $21.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 0.50% from the stock’s current price.

AM has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Finally, Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.00.

Antero Midstream Trading Up 1.2%

Shares of AM stock traded up $0.27 on Friday, hitting $23.12. The stock had a trading volume of 349,866 shares, compared to its average volume of 2,912,215. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The firm has a market capitalization of $10.94 billion, a P/E ratio of 26.92 and a beta of 0.77. Antero Midstream has a 1 year low of $15.07 and a 1 year high of $23.34. The company’s 50 day moving average price is $20.00 and its 200-day moving average price is $18.78.

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 company had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.Antero Midstream’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. Analysts anticipate that Antero Midstream will post 0.95 earnings per share for the current year.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the sale, the insider directly owned 99,900 shares of the company’s stock, valued at approximately $2,273,724. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Yvette K. Schultz sold 25,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $22.81, for a total transaction of $570,250.00. Following the completion of the sale, the insider owned 649,834 shares in the company, valued at $14,822,713.54. The trade was a 3.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,000 shares of company stock worth $1,092,640 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AM. Royal Bank of Canada lifted its stake in Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 1,371 shares during the last quarter. AQR Capital Management LLC raised its holdings in Antero Midstream by 174.9% during the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after purchasing an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Antero Midstream by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after buying an additional 43,335 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Antero Midstream by 13.9% in the 2nd quarter. ProShare Advisors LLC now owns 41,787 shares of the pipeline company’s stock valued at $792,000 after buying an additional 5,115 shares in the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

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.