Antero Midstream (NYSE:AM) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Antero Midstream (NYSE:AM) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently commented on AM. Morgan Stanley boosted their price target on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 23rd. Wall Street Zen cut shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and a consensus price target of $19.17.

Antero Midstream Stock Performance

AM traded up $0.02 during trading on Monday, reaching $18.66. 102,097 shares of the company were exchanged, compared to its average volume of 2,545,565. Antero Midstream has a 52 week low of $15.07 and a 52 week high of $19.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.46. The stock has a market cap of $8.89 billion, a P/E ratio of 19.03 and a beta of 0.81. The firm has a 50 day moving average of $18.04 and a 200 day moving average of $18.08.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, January 28th. Antero Midstream’s dividend payout ratio is currently 91.84%.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the transaction, the director directly owned 72,622 shares in the company, valued at approximately $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Antero Midstream

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Antero Midstream by 22.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after buying an additional 1,430,138 shares in the last quarter. US Bancorp DE grew its holdings in shares of Antero Midstream by 1.6% during the second quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock worth $722,000 after purchasing an additional 610 shares in the last quarter. Franklin Resources Inc. increased its stake in Antero Midstream by 54.3% in the 2nd quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock worth $11,637,000 after purchasing an additional 216,022 shares during the period. Boston Trust Walden Corp lifted its holdings in Antero Midstream by 5.5% in the 3rd quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock worth $72,667,000 after buying an additional 194,480 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Antero Midstream by 6.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,062,611 shares of the pipeline company’s stock valued at $20,657,000 after purchasing an additional 60,628 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

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.