Antero Midstream (NYSE:AM) Shares Gap Down to $14.67

Antero Midstream Co. (NYSE:AM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $14.67, but opened at $14.24. Antero Midstream shares last traded at $14.48, with a volume of 675,879 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on AM. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday. Tudor, Pickering, Holt & Co. cut Antero Midstream from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $13.00 in a research note on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.70.

Antero Midstream Stock Down 2.5 %

The business has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $13.18. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 18.34 and a beta of 2.26. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.25 and a current ratio of 1.25.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Thursday, April 25th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $279.05 million during the quarter, compared to analysts’ expectations of $277.25 million. Antero Midstream had a net margin of 36.67% and a return on equity of 20.82%. Antero Midstream’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, equities analysts predict that Antero Midstream Co. will post 0.89 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 6.29%. The ex-dividend date was Tuesday, April 23rd. Antero Midstream’s payout ratio is 112.50%.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 16,394 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $13.67, for a total value of $224,105.98. Following the completion of the transaction, the insider now owns 170,266 shares in the company, valued at approximately $2,327,536.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Trading of Antero Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Semanteon Capital Management LP purchased a new position in Antero Midstream during the fourth quarter worth approximately $164,000. Charles Schwab Investment Management Inc. increased its stake in Antero Midstream by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,602,607 shares of the pipeline company’s stock valued at $45,141,000 after purchasing an additional 99,592 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Antero Midstream by 4.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 37,360 shares of the pipeline company’s stock worth $448,000 after purchasing an additional 1,741 shares during the period. California Public Employees Retirement System bought a new position in shares of Antero Midstream in the 3rd quarter worth about $2,183,000. Finally, New York Life Investment Management LLC acquired a new position in shares of Antero Midstream in the 4th quarter valued at about $445,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.