Antero Midstream (NYSE:AM) Price Target Raised to $24.00

Antero Midstream (NYSE:AM) had its price target lifted by UBS Group from $22.00 to $24.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the pipeline company’s stock.

AM has been the subject of a number of other reports. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Wells Fargo & Company boosted their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. The Goldman Sachs Group raised their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and an average target price of $22.50.

Antero Midstream Trading Down 1.4%

AM opened at $23.21 on Wednesday. The stock has a market capitalization of $10.98 billion, a P/E ratio of 26.99 and a beta of 0.77. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. Antero Midstream has a 12 month low of $15.07 and a 12 month high of $23.83. The firm’s fifty day simple moving average is $21.20 and its 200 day simple moving average is $19.18.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. During the same quarter in the prior year, the company earned $0.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Antero Midstream will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insider Activity at Antero Midstream

In other news, insider Yvette K. Schultz sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $22.81, for a total transaction of $570,250.00. Following the sale, the insider owned 649,834 shares in the company, valued at $14,822,713.54. This represents a 3.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director directly owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 44,000 shares of company stock valued at $1,004,690. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Antero Midstream by 291.0% in the fourth quarter. Hsbc Holdings PLC now owns 59,600 shares of the pipeline company’s stock valued at $1,061,000 after acquiring an additional 44,356 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Antero Midstream by 221.5% during the 4th quarter. Corient Private Wealth LLC now owns 40,595 shares of the pipeline company’s stock worth $722,000 after purchasing an additional 27,967 shares during the last quarter. Compound Planning Inc. increased its stake in shares of Antero Midstream by 2.2% during the 4th quarter. Compound Planning Inc. now owns 40,551 shares of the pipeline company’s stock worth $721,000 after purchasing an additional 857 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after purchasing an additional 776,791 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Antero Midstream by 29.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 140,446 shares of the pipeline company’s stock valued at $2,499,000 after purchasing an additional 31,973 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

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.