Antero Midstream Corporation (NYSE:AM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Antero Midstream Corporation (NYSE:AM) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.00.

Several research firms recently commented on AM. Wells Fargo & Company lifted their price objective on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. UBS Group boosted their price target on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group boosted their price target on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider directly owned 1,500,594 shares in the company, valued at $32,893,020.48. The trade was a 6.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, the insider owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Antero Midstream by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock worth $723,424,000 after acquiring an additional 124,102 shares during the period. Invesco Ltd. raised its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after acquiring an additional 776,791 shares during the period. State Street Corp raised its stake in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares during the period. Geode Capital Management LLC raised its stake in Antero Midstream by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after acquiring an additional 1,161,684 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Antero Midstream by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock worth $179,316,000 after acquiring an additional 71,606 shares during the period. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

NYSE AM opened at $21.41 on Wednesday. Antero Midstream has a one year low of $16.77 and a one year high of $23.83. The stock has a 50-day moving average of $21.58 and a 200 day moving average of $20.52. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.89 and a beta of 0.66. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Antero Midstream’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Antero Midstream will post 1.12 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s payout ratio is currently 104.65%.

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.