Antero Midstream Corporation (NYSE:AM) Receives Consensus Rating of “Hold” from Analysts

Antero Midstream Corporation (NYSE:AM) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $24.20.

AM has been the subject of several analyst reports. Weiss Ratings upgraded Antero Midstream from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, September 17th. UBS Group decreased their price target on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a report on Tuesday, July 14th. Capital One Financial raised shares of Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd.

Antero Midstream Stock Down 0.8%

AM stock opened at $21.21 on Friday. The company has a 50 day moving average price of $22.08 and a two-hundred day moving average price of $22.08. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $10.07 billion, a P/E ratio of 25.25 and a beta of 0.65. Antero Midstream has a one year low of $16.96 and a one year high of $23.83.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Antero Midstream will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a dividend of $0.2250 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.2%. Antero Midstream’s dividend payout ratio is 107.14%.

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Antero Midstream during the second quarter valued at about $869,045,000. Bank of New York Mellon Corp raised its holdings in shares of Antero Midstream by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock worth $208,148,000 after purchasing an additional 920,948 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 valued at $186,328,000 after purchasing an additional 1,161,684 shares in the last quarter. Norges Bank acquired a new position in shares of Antero Midstream in the 4th quarter valued at about $66,998,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Antero Midstream by 1.0% during the 4th quarter. Clearbridge Investments LLC now owns 3,635,643 shares of the pipeline company’s stock worth $64,678,000 after purchasing an additional 37,400 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Company Profile

Antero Midstream Corp. (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company provides gathering, compression, processing and water-handling services, primarily for Antero Resources and other producers.

Antero Midstream’s gathering and compression assets collect production from wells and transport it to processing and downstream markets. Its water business provides fresh-water delivery and wastewater handling services, including the gathering, recycling and disposal of water used in hydraulic fracturing and other production activities.

The company’s operations are concentrated in the Appalachian Basin, particularly in the Marcellus and Utica shale areas of West Virginia and Ohio.