Antero Midstream Corporation (NYSE:AM) Stock Has Average Price Target of $24.20 According to Analysts

Antero Midstream Corporation (NYSE:AM) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $24.20.

Several research analysts have recently commented on AM shares. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a report on Tuesday, July 14th. Capital One Financial upgraded Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Tuesday, September 22nd. UBS Group reduced their price target on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, September 21st. Wells Fargo & Company lifted their price target on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd.

Antero Midstream Price Performance

Shares of NYSE AM opened at $21.15 on Tuesday. Antero Midstream has a twelve month low of $16.96 and a twelve month high of $23.83. The firm has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $21.89. The company has a market capitalization of $10.04 billion, a PE ratio of 25.17 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Antero Midstream will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a $0.2250 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.3%. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This represents a 16.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director directly owned 68,204 shares of the company’s stock, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

A number of hedge funds have recently modified their holdings of AM. Wedmont Private Capital boosted its holdings in shares of Antero Midstream by 6.8% during the third quarter. Wedmont Private Capital now owns 31,832 shares of the pipeline company’s stock worth $675,000 after purchasing an additional 2,035 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Antero Midstream by 32.4% in the third quarter. Farther Finance Advisors LLC now owns 161,339 shares of the pipeline company’s stock worth $3,253,000 after purchasing an additional 39,447 shares during the last quarter. Eastern Bank grew its stake in shares of Antero Midstream by 428.8% in the third quarter. Eastern Bank now owns 1,375 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,115 shares during the last quarter. Tidal Investments LLC increased its holdings in Antero Midstream by 5.4% during the 2nd quarter. Tidal Investments LLC now owns 155,732 shares of the pipeline company’s stock valued at $3,543,000 after purchasing an additional 7,919 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in Antero Midstream by 25.3% during the 2nd quarter. Engineers Gate Manager LP now owns 156,669 shares of the pipeline company’s stock valued at $3,564,000 after purchasing an additional 31,650 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

About Antero Midstream

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production in the Appalachian Basin. The company primarily serves Antero Resources Corporation, providing the gathering and processing services needed to move production from well sites into downstream markets.

Antero Midstream’s operations include natural gas gathering, compression and processing, as well as water handling and related services.