Antero Midstream (NYSE:AM) Price Target Raised to $17.50

Antero Midstream (NYSE:AM) had its price objective hoisted by The Goldman Sachs Group from $15.50 to $17.50 in a report issued on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the pipeline company’s stock.

AM has been the topic of several other reports. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Morgan Stanley upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Reduce” and a consensus target price of $18.50.

Antero Midstream Stock Performance

AM opened at $17.4850 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream has a 12-month low of $14.06 and a 12-month high of $19.08. The business has a 50 day moving average of $17.98 and a 200-day moving average of $17.54. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 18.41 and a beta of 0.97.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. During the same period in the previous year, the firm earned $0.23 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts expect that Antero Midstream will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 5.1%. Antero Midstream’s dividend payout ratio is 94.74%.

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the sale, the director owned 73,645 shares in the company, valued at $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Antero Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Transce3nd LLC acquired a new stake in Antero Midstream during the first quarter worth approximately $29,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Antero Midstream by 58.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the pipeline company’s stock valued at $51,000 after acquiring an additional 1,000 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Antero Midstream by 401.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 2,224 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company’s stock worth $62,000 after purchasing an additional 2,188 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Antero Midstream by 41.2% in the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company’s stock worth $82,000 after purchasing an additional 1,328 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

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.