Antero Midstream Corporation (NYSE:AM) Receives $24.00 Average Price Target from Analysts

Shares of Antero Midstream Corporation (NYSE:AM) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $24.00.

Several brokerages have weighed in on AM. Wells Fargo & Company increased their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised their target price on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. UBS Group lifted their price target on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a report on Wednesday, June 3rd.

Antero Midstream Stock Down 0.2%

AM stock opened at $21.64 on Wednesday. The company has a market capitalization of $10.28 billion, a P/E ratio of 25.16 and a beta of 0.66. Antero Midstream has a 12 month low of $16.77 and a 12 month high of $23.83. The firm’s fifty day simple moving average is $21.64 and its 200-day simple moving average is $20.47. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. As a group, equities research analysts forecast that Antero Midstream will post 1.12 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s payout ratio is currently 104.65%.

Insiders Place Their Bets

In related news, insider Michael N. Kennedy sold 100,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. The trade was a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

A number of large investors have recently bought and sold shares of AM. Elevation Wealth Partners LLC acquired a new stake in Antero Midstream in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Arax Advisory Partners lifted its position in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares during the period. Finally, Root Financial Partners LLC grew its stake in Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Company Profile

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.