Antero Midstream Corporation (NYSE:AM) Receives $24.50 Consensus Target Price from Brokerages

Shares of Antero Midstream Corporation (NYSE:AM) have been given an average rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.50.

Several equities analysts recently commented on the stock. Weiss Ratings cut shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s 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 completion of the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC purchased a new stake in shares of Antero Midstream during the 2nd quarter valued at $25,000. Clearstead Trust LLC purchased a new position in Antero Midstream in the second quarter worth $30,000. Larson Financial Group LLC increased its stake in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 708 shares during the last quarter. Arax Advisory Partners raised its position in Antero Midstream by 83.9% during the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Antero Midstream during the second quarter valued at about $38,000. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Trading Up 0.1%

NYSE:AM opened at $22.32 on Monday. Antero Midstream has a 1 year low of $16.96 and a 1 year high of $23.83. The stock’s fifty day moving average price is $22.30 and its two-hundred day moving average price is $22.06. 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 company has a market cap of $10.59 billion, a P/E ratio of 26.57 and a beta of 0.65.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that Antero Midstream will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.

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.