Q1 2024 Earnings Forecast for Antero Midstream Co. (NYSE:AM) Issued By Zacks Research

Antero Midstream Co. (NYSE:AM) – Equities research analysts at Zacks Research lifted their Q1 2024 EPS estimates for shares of Antero Midstream in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the pipeline company will earn $0.24 per share for the quarter, up from their previous forecast of $0.23. The consensus estimate for Antero Midstream’s current full-year earnings is $0.96 per share. Zacks Research also issued estimates for Antero Midstream’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.97 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.04 EPS and Q1 2026 earnings at $0.32 EPS.

Several other research analysts have also recently commented on the stock. Tudor, Pickering, Holt & Co. cut shares of Antero Midstream from a “buy” rating to a “hold” rating and boosted their price target for the stock from $12.00 to $13.00 in a report on Tuesday, March 12th. StockNews.com upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Two research analysts have rated the stock with a sell rating, three have given 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 an average target price of $12.70.

Antero Midstream Price Performance

Shares of AM opened at $13.65 on Thursday. Antero Midstream has a fifty-two week low of $9.69 and a fifty-two week high of $14.52. The firm’s 50 day moving average price is $13.42 and its 200 day moving average price is $12.83. The company has a market cap of $6.55 billion, a P/E ratio of 17.73 and a beta of 2.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.49.

Antero Midstream (NYSE:AM) last announced its earnings results on Thursday, February 15th. The pipeline company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Antero Midstream had a net margin of 35.69% and a return on equity of 19.96%. The firm had revenue of $260.17 million for the quarter, compared to the consensus estimate of $261.04 million. During the same period in the prior year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, April 23rd. Antero Midstream’s dividend payout ratio (DPR) is presently 116.88%.

Insider Activity

In other news, insider Sheri Pearce sold 16,394 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AM. Advisor Group Holdings Inc. boosted its holdings in shares of Antero Midstream by 58.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 33,613 shares of the pipeline company’s stock valued at $365,000 after buying an additional 12,431 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Antero Midstream by 11.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 99,908 shares of the pipeline company’s stock worth $1,086,000 after purchasing an additional 10,513 shares during the period. HighTower Advisors LLC boosted its stake in Antero Midstream by 21.4% during the 1st quarter. HighTower Advisors LLC now owns 76,529 shares of the pipeline company’s stock worth $829,000 after purchasing an additional 13,493 shares during the period. Private Advisor Group LLC acquired a new stake in Antero Midstream during the 1st quarter worth $239,000. Finally, Bank of Montreal Can boosted its stake in Antero Midstream by 12.1% during the 1st quarter. Bank of Montreal Can now owns 171,400 shares of the pipeline company’s stock worth $1,889,000 after purchasing an additional 18,435 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

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.