Antero Midstream (NYSE:AM) Shares Cross Above Fifty Day Moving Average After Earnings Miss

Shares of Antero Midstream Corporation (NYSE:AM – Get Free Report) crossed above its fifty day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a fifty day moving average of $21.37 and traded as high as $21.92. Antero Midstream shares last traded at $21.5210, with a volume of 6,032,385 shares traded.

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 the consensus estimate of $340.62 million. Antero Midstream had a net margin of 53.45% and a return on equity of 34.66%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, October 28th will be given a dividend of $0.2250 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $0.90 annualized dividend and a yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

Antero Midstream News Summary

Here are the key news stories impacting Antero Midstream this week:

Analyst Ratings Changes

Several brokerages recently issued reports on AM. Wells Fargo & Company increased their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. UBS Group decreased their target price on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. Capital One Financial upgraded shares of 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. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. Finally, Zacks Research lowered Antero Midstream from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.20.

Get Our Latest Research Report on AM

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks Klimley sold 5,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Antero Midstream by 2.6% during the first quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock valued at $489,000 after purchasing an additional 537 shares in the last quarter. Wedmont Private Capital grew its holdings in Antero Midstream by 2.1% during the second quarter. Wedmont Private Capital now owns 29,797 shares of the pipeline company’s stock valued at $664,000 after purchasing an additional 608 shares during the period. Parkside Financial Bank & Trust grew its holdings in Antero Midstream by 3.0% during the second quarter. Parkside Financial Bank & Trust now owns 21,743 shares of the pipeline company’s stock valued at $495,000 after purchasing an additional 642 shares during the period. Finally, Keybank National Association OH increased its position in Antero Midstream by 7.0% in the first quarter. Keybank National Association OH now owns 11,079 shares of the pipeline company’s stock worth $253,000 after buying an additional 729 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

The business has a 50-day simple moving average of $21.37 and a 200 day simple moving average of $21.53. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $10.22 billion, a PE ratio of 15.16 and a beta of 0.72.

Antero Midstream Company Profile

(Get Free Report)

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company’s services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources’ operations in the Appalachian Basin, particularly in West Virginia and Ohio.

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