Antero Midstream GP LP (AMGP) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Antero Midstream GP LP (NYSE:AMGP) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $21.78.
A number of analysts have recently issued reports on AMGP shares. Stifel Nicolaus restated a “buy” rating and issued a $19.00 target price on shares of Antero Midstream GP in a report on Tuesday, September 18th. Zacks Investment Research upgraded Antero Midstream GP from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, November 7th. Barclays reduced their target price on Antero Midstream GP from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, October 12th. ValuEngine upgraded Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group reduced their target price on Antero Midstream GP from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, November 21st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its holdings in shares of Antero Midstream GP by 1.2% during the second quarter. OppenheimerFunds Inc. now owns 7,083,744 shares of the company’s stock worth $133,600,000 after acquiring an additional 84,642 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Antero Midstream GP by 19.8% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,626,532 shares of the company’s stock worth $112,121,000 after acquiring an additional 1,093,947 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Antero Midstream GP by 29.8% during the third quarter. Neuberger Berman Group LLC now owns 5,331,021 shares of the company’s stock worth $90,201,000 after acquiring an additional 1,225,227 shares in the last quarter. Advisory Research Inc. raised its holdings in shares of Antero Midstream GP by 10.0% during the third quarter. Advisory Research Inc. now owns 2,340,193 shares of the company’s stock worth $39,596,000 after acquiring an additional 211,823 shares in the last quarter. Finally, Carnick & Kubik Group LLC purchased a new stake in shares of Antero Midstream GP during the second quarter worth $23,221,000. Institutional investors own 48.51% of the company’s stock.
Antero Midstream GP (NYSE:AMGP) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Antero Midstream GP had a net margin of 40.12% and a return on equity of 231.93%. The company had revenue of $37.82 million for the quarter, compared to analyst estimates of $37.72 million. During the same quarter last year, the company posted $0.02 EPS. Antero Midstream GP’s revenue was up 98.3% on a year-over-year basis. As a group, research analysts expect that Antero Midstream GP will post 0.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Friday, November 2nd were issued a $0.144 dividend. The ex-dividend date was Thursday, November 1st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Antero Midstream GP’s previous quarterly dividend of $0.13. Antero Midstream GP’s dividend payout ratio is presently 1,933.33%.
About Antero Midstream GP
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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