Antero Midstream Partners LP (AM) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of Antero Midstream Partners LP (NYSE:AM) from a buy rating to a hold rating in a report published on Monday.
A number of other brokerages also recently commented on AM. Morgan Stanley reissued an overweight rating on shares of Antero Midstream Partners in a research note on Tuesday, September 5th. BidaskClub upgraded Antero Midstream Partners from a sell rating to a hold rating in a report on Saturday, August 26th. Scotiabank set a $44.00 price target on Antero Midstream Partners and gave the company a buy rating in a report on Saturday, July 22nd. TheStreet lowered Antero Midstream Partners from a b rating to a c+ rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded Antero Midstream Partners from a sell rating to a hold rating in a research note on Thursday, July 20th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Antero Midstream Partners currently has an average rating of Buy and a consensus target price of $38.50.
Antero Midstream Partners (NYSE:AM) opened at 31.60 on Monday. The company’s 50-day moving average price is $31.83 and its 200-day moving average price is $33.01. Antero Midstream Partners has a 52-week low of $25.93 and a 52-week high of $35.74. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 21.47 and a beta of 1.92.
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In related news, major shareholder Resources Corp Antero sold 10,000,000 shares of Antero Midstream Partners stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $31.11, for a total value of $311,100,000.00. Following the completion of the sale, the insider now directly owns 98,870,335 shares in the company, valued at approximately $3,075,856,121.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.91% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Balentine LLC raised its holdings in shares of Antero Midstream Partners by 5.7% in the first quarter. Balentine LLC now owns 3,892 shares of the pipeline company’s stock worth $129,000 after buying an additional 210 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Antero Midstream Partners by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the pipeline company’s stock worth $177,000 after buying an additional 410 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Antero Midstream Partners during the first quarter worth $230,000. Rafferty Asset Management LLC acquired a new stake in shares of Antero Midstream Partners during the first quarter worth $245,000. Finally, Northern Trust Corp purchased a new stake in shares of Antero Midstream Partners during the second quarter valued at $245,000. Institutional investors and hedge funds own 43.22% of the company’s stock.
About Antero Midstream Partners
Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corporation (Antero Resources) to own, operate and develop midstream energy assets to service Antero Resources’ production. The Company’s segments include gathering and compression, and water handling and treatment. The gathering and compression segment includes a network of gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids (NGLs) and oil from Antero Resources’ wells in West Virginia and Ohio.
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