Zacks Investment Research Lowers Antero Midstream GP (AMGP) to Hold
Zacks Investment Research cut shares of Antero Midstream GP (NYSE:AMGP) from a buy rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Antero Midstream GP LP owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing segment and water handling and treatment segment. It offers gathering and compressions, water distribution, clearwater facility, fractionation and pipeline safety services. Antero Midstream GP LP is based in Denver, United States. “
Several other research analysts have also recently commented on the company. Barclays cut Antero Midstream GP from an overweight rating to an equal weight rating and reduced their price target for the company from $26.00 to $23.00 in a research report on Wednesday. Goldman Sachs Group raised Antero Midstream GP from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Friday, January 5th. Credit Suisse Group initiated coverage on Antero Midstream GP in a research report on Thursday, January 4th. They issued a neutral rating and a $21.00 price objective for the company. Robert W. Baird set a $36.00 price objective on Antero Midstream GP and gave the company a buy rating in a research report on Monday, December 25th. Finally, Citigroup raised Antero Midstream GP from a neutral rating to a buy rating and set a $21.00 price objective for the company in a research report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Antero Midstream GP has a consensus rating of Buy and an average price target of $26.00.
Antero Midstream GP (NYSE:AMGP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Antero Midstream GP had a net margin of 4.41% and a return on equity of 17.95%. The company had revenue of $19.07 million for the quarter, compared to analyst estimates of $19.44 million. equities analysts predict that Antero Midstream GP will post 0.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Thursday, February 1st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from Antero Midstream GP’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, January 31st.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGP. Warburg Pincus LLC acquired a new stake in shares of Antero Midstream GP in the second quarter valued at approximately $1,211,309,000. Goldman Sachs Group Inc. acquired a new stake in Antero Midstream GP during the 2nd quarter worth approximately $126,613,000. Cohen & Steers Inc. lifted its holdings in Antero Midstream GP by 59.0% during the 3rd quarter. Cohen & Steers Inc. now owns 3,135,115 shares of the company’s stock worth $64,176,000 after purchasing an additional 1,163,246 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Antero Midstream GP by 56.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,800,000 shares of the company’s stock worth $36,846,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Antero Midstream GP during the 2nd quarter worth approximately $12,415,000. 64.73% of the stock is owned by institutional investors.
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Antero Midstream GP Company Profile
Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.
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