Antero Midstream GP LP (AMGP) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Antero Midstream GP LP (NASDAQ:AMGP) from a sell rating to a hold rating in a report issued on Tuesday 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. “
A number of other analysts have also commented on the company. Morgan Stanley reissued an overweight rating on shares of Antero Midstream GP in a report on Tuesday, September 5th. Goldman Sachs Group Inc lowered Antero Midstream GP from a buy rating to a neutral rating and decreased their price objective for the stock from $29.00 to $23.00 in a report on Friday, September 8th. Scotiabank set a $25.00 price objective on Antero Midstream GP and gave the stock a hold rating in a report on Friday, July 21st. Seaport Global Securities initiated coverage on Antero Midstream GP in a report on Tuesday, October 10th. They set a buy rating and a $26.00 price objective for the company. Finally, Stifel Nicolaus raised Antero Midstream GP from a hold rating to a buy rating and set a $23.00 price objective for the company in a report on Monday, August 14th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $26.25.
Shares of Antero Midstream GP (AMGP) traded up 0.42% on Tuesday, reaching $19.10. The company had a trading volume of 226,306 shares. The stock has a 50-day moving average price of $19.79 and a 200-day moving average price of $20.55. Antero Midstream GP has a 12 month low of $17.66 and a 12 month high of $22.87. The stock has a market cap of $3.56 billion and a PE ratio of 658.62.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 23rd. Stockholders of record on Wednesday, November 1st will be paid a $0.059 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, October 31st. This is an increase from Antero Midstream GP’s previous quarterly dividend of $0.03.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Botty Investors LLC purchased a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $101,000. Wells Fargo & Company MN purchased a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $255,000. Diversified Trust Co purchased a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $259,000. CNH Partners LLC purchased a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $319,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $462,000.
About Antero Midstream GP
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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