Antero Midstream (NYSE:AM) Price Target Raised to $23.00

Antero Midstream (NYSE:AM) had its target price raised by stock analysts at Wells Fargo & Company from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 0.50% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. The Goldman Sachs Group increased their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

Antero Midstream Stock Performance

Shares of Antero Midstream stock traded up $0.27 on Friday, hitting $23.12. The stock had a trading volume of 349,866 shares, compared to its average volume of 2,912,215. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 26.92 and a beta of 0.77. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $23.34. The company’s 50 day moving average price is $20.00 and its 200 day moving average price is $18.78.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. During the same quarter last year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Antero Midstream will post 0.95 EPS for the current year.

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the transaction, the director directly owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Yvette K. Schultz sold 25,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.81, for a total transaction of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at approximately $14,822,713.54. The trade was a 3.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,000 shares of company stock worth $1,092,640 in the last three months. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

A number of hedge funds have recently added to or reduced their stakes in AM. Vanguard Group Inc. increased its position 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 purchasing an additional 124,102 shares during the period. Invesco Ltd. boosted its stake in shares of Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares in the last quarter. State Street Corp grew its holdings in Antero Midstream by 1.7% during the fourth 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 grew its holdings in Antero Midstream by 12.5% during the fourth 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 position in Antero Midstream by 0.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

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.