Antero Midstream (NYSE:AM) Stock Gets Price Target Cut from Morgan Stanley

Antero Midstream (NYSE:AM) had its price target reduced by Morgan Stanley from $26.00 to $24.00 in a research note released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the pipeline company’s stock.

A number of other brokerages have also issued reports on AM. Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Weiss Ratings raised Antero Midstream from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, October 30th. Zacks Research downgraded shares of Antero Midstream from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a report on Tuesday, July 14th. Finally, Wells Fargo & Company upped their target price on Antero Midstream from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

Antero Midstream Price Performance

NYSE AM opened at $20.39 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market cap of $9.63 billion, a PE ratio of 14.36 and a beta of 0.71. Antero Midstream has a 1 year low of $17.12 and a 1 year high of $23.83. The stock’s 50-day moving average price is $20.92 and its two-hundred day moving average price is $21.62.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, October 28th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $327.02 million for the quarter, compared to analysts’ expectations of $340.62 million. Antero Midstream had a return on equity of 33.53% and a net margin of 53.45%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. On average, analysts predict that Antero Midstream will post 1.45 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 11th. Shareholders of record on Wednesday, October 28th were given a dividend of $0.2250 per share. The ex-dividend date of this dividend was Wednesday, October 28th. This represents a $0.90 dividend on an annualized basis and a yield of 4.4%. Antero Midstream’s payout ratio is currently 63.38%.

Institutional Investors Weigh In On Antero Midstream

A number of hedge funds have recently bought and sold shares of the company. Amundi lifted its position in shares of Antero Midstream by 70.8% during the 2nd quarter. Amundi now owns 940,170 shares of the pipeline company’s stock worth $21,389,000 after purchasing an additional 389,859 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Antero Midstream by 285.7% during the 2nd quarter. Squarepoint Ops LLC now owns 77,056 shares of the pipeline company’s stock valued at $1,753,000 after purchasing an additional 57,077 shares during the period. Kayne Anderson Capital Advisors LP acquired a new stake in Antero Midstream in the 2nd quarter valued at approximately $49,883,000. Corient Private Wealth LP acquired a new stake in Antero Midstream in the 2nd quarter valued at approximately $1,178,000. Finally, Cetera Investment Advisers grew its holdings in Antero Midstream by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock valued at $19,772,000 after buying an additional 77,936 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Company Profile

Antero Midstream Corporation owns and operates natural gas gathering, compression and water-handling infrastructure in the Appalachian Basin. Its assets support production in the Marcellus and Utica shale regions of West Virginia and Ohio. The company’s services include gathering and compression of natural gas, as well as water transportation and related infrastructure used in shale development. Antero Midstream’s operations primarily serve Antero Resources, connecting its production areas with downstream pipelines and supporting its water needs.