Antero Midstream (NYSE:AM) Posts Earnings Results, Beats Expectations By $0.04 EPS

Antero Midstream (NYSE:AM) released its earnings results on Wednesday. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04, FiscalAI reports. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million.

Antero Midstream Stock Performance

AM stock traded up $0.59 on Wednesday, reaching $20.49. The company’s stock had a trading volume of 4,717,685 shares, compared to its average volume of 2,837,381. Antero Midstream has a 52 week low of $15.07 and a 52 week high of $20.54. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $9.76 billion, a P/E ratio of 20.91 and a beta of 0.81. The firm has a fifty day moving average of $18.18 and a two-hundred day moving average of $18.15.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. Antero Midstream’s payout ratio is currently 91.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AM. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Wall Street Zen downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley raised their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company upped their target price on Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.17.

Insider Transactions at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the completion of the transaction, the director owned 72,622 shares in the company, valued at approximately $1,277,420.98. The trade was a 6.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Antero Midstream by 0.8% in the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 1,371 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Antero Midstream by 174.9% during the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after buying an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Antero Midstream by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after acquiring an additional 43,335 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Antero Midstream by 5.9% in the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock valued at $344,000 after acquiring an additional 1,009 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.