Robert W. Baird Reiterates “$42.00” Price Target for Antero Midstream Partners LP (AM)
Robert W. Baird set a $42.00 price objective on Antero Midstream Partners LP (NYSE:AM) in a research note issued to investors on Sunday morning. The brokerage currently has a buy rating on the pipeline company’s stock.
Other research analysts have also issued research reports about the stock. Mitsubishi UFJ Financial Group initiated coverage on shares of Antero Midstream Partners in a research note on Monday, May 29th. They set a buy rating and a $30.00 price objective on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Antero Midstream Partners in a research note on Monday, May 29th. They set a buy rating and a $45.00 price objective on the stock. Scotiabank set a $44.00 price objective on shares of Antero Midstream Partners and gave the stock a buy rating in a research note on Monday, May 22nd. Citigroup Inc. reissued a buy rating and set a $41.00 price objective on shares of Antero Midstream Partners in a research note on Wednesday, May 31st. Finally, Guggenheim initiated coverage on shares of Antero Midstream Partners in a research note on Thursday, July 20th. They set a buy rating and a $37.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $38.50.
Shares of Antero Midstream Partners (NYSE:AM) opened at 31.66 on Friday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 21.51 and a beta of 1.96. Antero Midstream Partners has a 1-year low of $24.61 and a 1-year high of $35.74. The company’s 50-day moving average is $32.89 and its 200 day moving average is $33.38.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Thursday, August 3rd were paid a $0.32 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.28 dividend on an annualized basis and a yield of 4.04%. This is a positive change from Antero Midstream Partners’s previous quarterly dividend of $0.30. Antero Midstream Partners’s payout ratio is presently 86.49%.
A number of institutional investors and hedge funds have recently made changes to their positions in AM. Balentine LLC lifted its stake in Antero Midstream Partners by 5.7% in the first quarter. Balentine LLC now owns 3,892 shares of the pipeline company’s stock valued at $129,000 after buying an additional 210 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Antero Midstream Partners by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 410 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Antero Midstream Partners in the first quarter valued at approximately $194,000. Proficio Capital Partners LLC acquired a new stake in shares of Antero Midstream Partners in the first quarter valued at approximately $230,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Antero Midstream Partners in the first quarter valued at approximately $245,000. 43.25% of the stock is currently owned by hedge funds and other institutional investors.
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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