Antero Midstream (NYSE:AM) Releases Earnings Results, Misses Expectations By $0.01 EPS

Antero Midstream (NYSE:AM) posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01), Zacks reports. The company had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS.

Antero Midstream Price Performance

NYSE:AM opened at $21.57 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50 day moving average price of $21.84 and a 200-day moving average price of $20.31. Antero Midstream has a 1-year low of $16.77 and a 1-year high of $23.83. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 25.08 and a beta of 0.66.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Activity

In related news, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total value of $318,640.00. Following the completion of the transaction, the insider owned 99,900 shares of the company’s stock, valued at approximately $2,273,724. This represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the transaction, the director owned 69,680 shares in the company, valued at $1,613,788.80. This represents a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 213,269 shares of company stock valued at $4,713,681. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Invesco Ltd. grew its stake in Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after acquiring an additional 776,791 shares during the period. State Street Corp raised its position 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. Goldman Sachs Group Inc. lifted its holdings in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. BROOKFIELD Corp ON lifted its holdings in Antero Midstream by 16.3% during the fourth quarter. BROOKFIELD Corp ON now owns 2,175,993 shares of the pipeline company’s stock valued at $38,711,000 after purchasing an additional 305,371 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Antero Midstream by 81.0% in the fourth quarter. Gotham Asset Management LLC now owns 2,131,324 shares of the pipeline company’s stock valued at $37,916,000 after purchasing an additional 953,785 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group raised their price objective on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. The Goldman Sachs Group raised their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.00.

Antero Midstream Company Profile

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.