Antero Midstream Corporation (NYSE:AM) Receives Average Rating of “Hold” from Brokerages

Antero Midstream Corporation (NYSE:AM) has received an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.00.

A number of brokerages have issued reports on AM. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. Finally, UBS Group increased their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 25th.

Antero Midstream Price Performance

Shares of AM traded down $0.30 during mid-day trading on Friday, reaching $22.27. The company had a trading volume of 1,603,571 shares, compared to its average volume of 2,424,391. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $10.58 billion, a P/E ratio of 25.90 and a beta of 0.64. Antero Midstream has a twelve month low of $16.77 and a twelve month high of $23.83. The company’s 50-day moving average is $21.83 and its 200-day moving average is $21.05.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period in the prior year, the firm earned $0.25 EPS. Antero Midstream’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Antero Midstream will post 1.11 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream’s dividend payout ratio is currently 104.65%.

Insider Activity at Antero Midstream

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

Hedge Funds Weigh In On Antero Midstream

Institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC lifted its stake in Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Antero Midstream by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock valued at $489,000 after purchasing an additional 537 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Antero Midstream by 23.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after buying an additional 617 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Antero Midstream by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock valued at $2,148,000 after buying an additional 660 shares in the last quarter. Finally, Choreo LLC lifted its position in Antero Midstream by 5.0% in the 4th quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock worth $253,000 after buying an additional 679 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

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.