Antero Midstream (NYSE:AM) Hits New 52-Week High – Should You Buy?

Antero Midstream Corporation (NYSE:AM) reached a new 52-week high on Monday . The company traded as high as $22.70 and last traded at $22.6630, with a volume of 213721 shares traded. The stock had previously closed at $22.48.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AM shares. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Morgan Stanley lifted their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Finally, The Goldman Sachs Group raised their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.33.

Antero Midstream Stock Up 1.5%

The firm has a market cap of $10.80 billion, a P/E ratio of 26.54 and a beta of 0.77. The company’s 50-day simple moving average is $19.09 and its 200 day simple moving average is $18.47. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. Research analysts anticipate that Antero Midstream Corporation 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. Stockholders of record on Wednesday, January 28th were issued a $0.225 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. Antero Midstream’s payout ratio is 104.65%.

Insiders Place Their Bets

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, the director directly owned 72,622 shares in the company, valued at $1,277,420.98. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its holdings in shares of Antero Midstream by 330.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares during the last quarter. Root Financial Partners LLC bought a new stake in Antero Midstream in the third quarter worth about $25,000. Elevation Wealth Partners LLC bought a new stake in Antero Midstream in the fourth quarter worth about $27,000. Quent Capital LLC purchased a new position in shares of Antero Midstream during the third quarter valued at approximately $28,000. Finally, Larson Financial Group LLC grew its stake in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Company Profile

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.