Antero Midstream GP (AMGP) Reaches New 1-Year Low at $14.63
Antero Midstream GP LP (NYSE:AMGP)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $14.63 and last traded at $14.85, with a volume of 31413 shares traded. The stock had previously closed at $14.92.
Several research firms have recently commented on AMGP. Zacks Investment Research raised shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Monday, October 29th. ValuEngine raised shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Wells Fargo & Co lowered their target price on shares of Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Credit Suisse Group began coverage on shares of Antero Midstream GP in a report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus raised shares of Antero Midstream GP to a “buy” rating and set a $35.00 target price on the stock in a report on Monday, August 27th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $21.36.
The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 487.67 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Friday, November 2nd will be given a $0.144 dividend. This represents a $0.58 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, November 1st. This is a boost from Antero Midstream GP’s previous quarterly dividend of $0.13. Antero Midstream GP’s payout ratio is currently 1,933.33%.
In other Antero Midstream GP news, insider K. Phil Yoo sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $16.76, for a total transaction of $83,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kevin J. Kilstrom sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $18.81, for a total transaction of $940,500.00. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA increased its position in Antero Midstream GP by 300.6% during the third quarter. Glenmede Trust Co. NA now owns 15,925 shares of the company’s stock valued at $269,000 after acquiring an additional 11,950 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Antero Midstream GP during the third quarter valued at $1,692,000. Point72 Asset Management L.P. bought a new position in Antero Midstream GP during the third quarter valued at $6,053,000. Virtus Alternative Investment Advisers Inc. bought a new position in Antero Midstream GP during the third quarter valued at $212,000. Finally, Key Group Holdings Cayman LTD. increased its position in Antero Midstream GP by 743.4% during the third quarter. Key Group Holdings Cayman LTD. now owns 712,000 shares of the company’s stock valued at $12,047,000 after acquiring an additional 627,584 shares during the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.
About Antero Midstream GP (NYSE:AMGP)
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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