Antero Midstream Partners LP (AM) Downgraded to Strong Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Antero Midstream Partners LP (NYSE:AM) from a hold rating to a strong sell rating in a report published on Tuesday morning.
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 brokerages also recently weighed in on AM. Robert W. Baird set a $42.00 price objective on shares of Antero Midstream Partners and gave the company a buy rating in a research report on Sunday, September 10th. ValuEngine raised shares of Antero Midstream Partners from a hold rating to a buy rating in a report on Wednesday, September 6th. Scotiabank set a $44.00 target price on shares of Antero Midstream Partners and gave the stock a buy rating in a report on Saturday, July 22nd. Guggenheim assumed coverage on Antero Midstream Partners in a research note on Thursday, July 20th. They issued a buy rating and a $37.00 target price for the company. Finally, Stifel Nicolaus upgraded Antero Midstream Partners from a hold rating to a buy rating and set a $23.00 target price for the company in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $38.50.
Antero Midstream Partners (NYSE AM) traded down 0.09% during trading on Tuesday, reaching $31.71. 82,760 shares of the company were exchanged. The firm’s 50 day moving average is $31.81 and its 200 day moving average is $32.99. Antero Midstream Partners has a 52-week low of $26.39 and a 52-week high of $35.74. The stock has a market capitalization of $5.92 billion, a PE ratio of 21.54 and a beta of 1.92.
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In other news, major shareholder Resources Corp Antero sold 10,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $31.11, for a total transaction of $311,100,000.00. Following the completion of the transaction, the insider now directly owns 98,870,335 shares in the company, valued at $3,075,856,121.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.91% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Balentine LLC grew its position in Antero Midstream Partners by 5.7% in the 1st 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 increased its stake in Antero Midstream Partners by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the pipeline company’s stock valued at $177,000 after buying an additional 410 shares during the period. Proficio Capital Partners LLC acquired a new position in Antero Midstream Partners during the 1st quarter valued at about $230,000. Rafferty Asset Management LLC acquired a new position in Antero Midstream Partners during the 1st quarter valued at about $245,000. Finally, Northern Trust Corp acquired a new position in Antero Midstream Partners during the 2nd quarter valued at about $245,000. 43.22% of the stock is owned by institutional investors and hedge funds.
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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