Antero Midstream (NYSE:AM) Reaches New 52-Week High – What’s Next?

Shares of Antero Midstream Corporation (NYSE:AM) hit a new 52-week high on Wednesday . The stock traded as high as $23.13 and last traded at $23.1220, with a volume of 1782183 shares trading hands. The stock had previously closed at $22.59.

Analysts Set New Price Targets

AM has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.00.

Antero Midstream Trading Up 1.4%

The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average is $20.00 and its two-hundred day moving average is $18.78. The firm has a market cap of $10.96 billion, a P/E ratio of 26.93 and a beta of 0.77.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Buying and Selling

In other Antero Midstream news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.81, for a total value of $570,250.00. Following the completion of the transaction, the insider owned 649,834 shares in the company, valued at approximately $14,822,713.54. This represents a 3.70% 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. Also, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total transaction of $115,800.00. Following the sale, the director owned 69,680 shares in the company, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,000 shares of company stock valued at $1,092,640 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its holdings in shares of Antero Midstream by 33.3% during the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 565 shares during the last quarter. MAI Capital Management raised its stake in Antero Midstream by 1.4% during the second quarter. MAI Capital Management now owns 44,049 shares of the pipeline company’s stock valued at $835,000 after buying an additional 589 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Antero Midstream by 23.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after buying an additional 617 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock worth $2,148,000 after acquiring an additional 660 shares in the last quarter. Finally, Choreo LLC grew its stake in shares of Antero Midstream by 5.0% in the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock worth $253,000 after acquiring an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

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.