Zacks Investment Research Downgrades Antero Midstream Partners LP (AM) to Sell
Zacks Investment Research cut shares of Antero Midstream Partners LP (NYSE:AM) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “Antero Midstream Partners LP is formed to own, operate and develop midstream energy properties. The Company’s assets consist of gathering pipelines, compressor stations and fresh water distribution systems. Its Gathering and Compression segment collects and transports natural gas through a network of gathering pipelines and compressor stations. The Fresh Water Distribution segment sources and delivers fresh water for the well completion operations through two independent fresh water distribution systems. Its projects are located in the southwestern core of the Marcellus Shale in northwest West Virginia and the Utica Shale in southern Ohio. Antero Midstream Partners LP is based in Denver, Colorado. “
A number of other equities analysts have also weighed in on the company. Citigroup Inc. reiterated a buy rating and issued a $41.00 price target on shares of Antero Midstream Partners in a research report on Wednesday, May 31st. Scotiabank set a $39.00 target price on Antero Midstream Partners and gave the company a buy rating in a report on Monday, March 20th. Barclays PLC reissued an overweight rating and set a $40.00 price objective on shares of Antero Midstream Partners in a report on Tuesday, May 30th. Morgan Stanley restated an overweight rating and set a $40.00 target price on shares of Antero Midstream Partners in a research report on Tuesday, May 30th. Finally, Credit Suisse Group began coverage on Antero Midstream Partners in a research report on Tuesday, May 30th. They set an outperform rating and a $44.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $39.20.
Shares of Antero Midstream Partners (NYSE AM) traded up 1.57% during midday trading on Tuesday, hitting $33.73. 88,277 shares of the company were exchanged. The company has a 50-day moving average price of $33.28 and a 200-day moving average price of $33.28. Antero Midstream Partners has a 52-week low of $24.61 and a 52-week high of $35.74. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 24.84 and a beta of 1.96.
Antero Midstream Partners (NYSE:AM) last released its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. Antero Midstream Partners had a return on equity of 19.78% and a net margin of 38.95%. The firm had revenue of $174.77 million during the quarter, compared to analysts’ expectations of $184.45 million. On average, analysts forecast that Antero Midstream Partners will post $1.60 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, August 1st. This is a boost from Antero Midstream Partners’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%. Antero Midstream Partners’s payout ratio is currently 88.24%.
Large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its position in Antero Midstream Partners by 2.3% in the first quarter. Neuberger Berman Group LLC now owns 5,301,914 shares of the pipeline company’s stock valued at $175,811,000 after buying an additional 119,171 shares during the period. Chickasaw Capital Management LLC boosted its position in Antero Midstream Partners by 1.0% in the first quarter. Chickasaw Capital Management LLC now owns 4,809,156 shares of the pipeline company’s stock valued at $159,472,000 after buying an additional 45,613 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Antero Midstream Partners by 30.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,969,700 shares of the pipeline company’s stock valued at $98,460,000 after buying an additional 697,000 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Antero Midstream Partners by 50.3% in the first quarter. OppenheimerFunds Inc. now owns 1,921,960 shares of the pipeline company’s stock valued at $63,732,000 after buying an additional 643,340 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its position in Antero Midstream Partners by 33.9% in the first quarter. Atlantic Trust Group LLC now owns 1,581,678 shares of the pipeline company’s stock valued at $52,448,000 after buying an additional 400,139 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.
Antero Midstream Partners Company Profile
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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