Scotiabank Analysts Give Antero Midstream Partners LP (AM) a $44.00 Price Target

Scotiabank set a $44.00 price target on Antero Midstream Partners LP (NYSE:AM) in a report released on Saturday. The brokerage currently has a buy rating on the pipeline company’s stock.

A number of other equities analysts have also recently commented on the company. BidaskClub raised Antero Midstream Partners from a sell rating to a hold rating in a research note on Wednesday, June 28th. Zacks Investment Research raised Antero Midstream Partners from a sell rating to a hold rating in a research note on Wednesday, July 26th. Morgan Stanley reaffirmed an overweight rating on shares of Antero Midstream Partners in a research note on Tuesday, September 5th. Guggenheim initiated coverage on Antero Midstream Partners in a research note on Thursday, July 20th. They issued a buy rating and a $37.00 price target on the stock. Finally, ValuEngine raised Antero Midstream Partners from a hold rating to a buy rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Antero Midstream Partners currently has an average rating of Buy and a consensus price target of $39.25.

Antero Midstream Partners (AM) opened at 28.87 on Friday. The firm has a market cap of $5.39 billion, a P/E ratio of 19.61 and a beta of 1.92. Antero Midstream Partners has a 1-year low of $27.01 and a 1-year high of $35.74. The stock has a 50 day moving average price of $31.24 and a 200 day moving average price of $32.70.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Wednesday, November 1st will be given a $0.34 dividend. This is a positive change from Antero Midstream Partners’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Tuesday, October 31st. Antero Midstream Partners’s dividend payout ratio (DPR) is currently 86.49%.

In other news, major shareholder Resources Corp Antero sold 10,000,000 shares of Antero Midstream Partners stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $31.11, for a total value of $311,100,000.00. Following the sale, the insider now directly owns 98,870,335 shares in the company, valued at approximately $3,075,856,121.85. The sale was disclosed in a filing with the SEC, which is available through this link. 7.91% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. boosted its position in shares of Antero Midstream Partners by 2.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,890,510 shares of the pipeline company’s stock valued at $294,987,000 after purchasing an additional 212,003 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Antero Midstream Partners by 3.6% during the second quarter. Alps Advisors Inc. now owns 5,631,289 shares of the pipeline company’s stock valued at $186,846,000 after purchasing an additional 197,826 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Antero Midstream Partners by 1.1% during the second quarter. Neuberger Berman Group LLC now owns 5,358,560 shares of the pipeline company’s stock valued at $177,797,000 after purchasing an additional 56,646 shares in the last quarter. Atlantic Trust Group LLC boosted its position in shares of Antero Midstream Partners by 4.8% during the second quarter. Atlantic Trust Group LLC now owns 1,658,090 shares of the pipeline company’s stock valued at $55,015,000 after purchasing an additional 76,412 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Antero Midstream Partners by 15.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,598,201 shares of the pipeline company’s stock valued at $53,028,000 after purchasing an additional 212,350 shares in the last quarter. Institutional investors own 43.00% of the company’s stock.

Antero Midstream Partners Company Profile

Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corporation (Antero Resources) to own, operate and develop midstream energy assets to service Antero Resources’ production. The Company’s segments include gathering and compression, and water handling and treatment. The gathering and compression segment includes a network of gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids (NGLs) and oil from Antero Resources’ wells in West Virginia and Ohio.

Analyst Recommendations for Antero Midstream Partners (NYSE:AM)

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