Antero Midstream Corporation (NYSE:AM) Given Average Recommendation of “Hold” by Brokerages

Antero Midstream Corporation (NYSE:AM) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.00.

Several equities research analysts recently weighed in on AM shares. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their target price on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. UBS Group boosted their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company boosted their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 174,269 shares of company stock worth $3,824,791. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Antero Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AM. American Century Companies Inc. raised its stake in shares of Antero Midstream by 21.0% during the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after purchasing an additional 535,245 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Antero Midstream by 40.8% during the third 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 last quarter. Miller Howard Investments Inc. NY raised its stake in shares of Antero Midstream by 2.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company’s stock worth $35,196,000 after purchasing an additional 47,817 shares during the last quarter. Chickasaw Capital Management LLC raised its stake in shares of Antero Midstream by 11.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock worth $25,069,000 after purchasing an additional 147,250 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Antero Midstream during the third quarter worth approximately $13,642,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM stock opened at $21.29 on Wednesday. The business has a 50 day moving average price of $21.72 and a 200 day moving average price of $20.39. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 24.75 and a beta of 0.66. Antero Midstream has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities research analysts anticipate that Antero Midstream will post 1.12 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a $0.225 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s payout ratio is currently 104.65%.

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.