Antero Midstream (NYSE:AM) Sets New 1-Year High – Here’s What Happened

Antero Midstream Corporation (NYSE:AM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $23.49 and last traded at $23.4610, with a volume of 218088 shares trading hands. The stock had previously closed at $22.96.

Analysts Set New Price Targets

Several research firms have issued reports on AM. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Finally, The Goldman Sachs Group increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Antero Midstream Trading Up 2.1%

The business has a fifty day simple moving average of $20.76 and a 200 day simple moving average of $19.05. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 27.21 and a beta of 0.77. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $297.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, equities analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 3.8%. Antero Midstream’s dividend payout ratio 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 transaction of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at $14,822,713.54. This represents a 3.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares in the company, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 44,000 shares of company stock worth $1,004,690. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Antero Midstream

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in Antero Midstream by 291.0% in the 4th quarter. Hsbc Holdings PLC now owns 59,600 shares of the pipeline company’s stock valued at $1,061,000 after purchasing an additional 44,356 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Antero Midstream by 221.5% in the fourth quarter. Corient Private Wealth LLC now owns 40,595 shares of the pipeline company’s stock valued at $722,000 after purchasing an additional 27,967 shares during the period. Compound Planning Inc. grew its holdings in Antero Midstream by 2.2% during the 4th quarter. Compound Planning Inc. now owns 40,551 shares of the pipeline company’s stock valued at $721,000 after purchasing an additional 857 shares in the last quarter. Invesco Ltd. increased its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after buying an additional 776,791 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in Antero Midstream by 29.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 140,446 shares of the pipeline company’s stock worth $2,499,000 after buying an additional 31,973 shares during the period. 53.97% of the stock is currently 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.