Antero Midstream (NYSE:AM) Announces Earnings Results

Antero Midstream (NYSE:AM) posted its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13), Zacks reports. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. During the same period last year, the business earned $0.23 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $22.57 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41. The company has a market cap of $10.68 billion, a P/E ratio of 26.25 and a beta of 0.75. The firm’s fifty day moving average is $21.47 and its two-hundred day moving average is $19.28. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $23.83.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yvette K. Schultz sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at approximately $14,822,713.54. The trade was a 3.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 44,000 shares of company stock valued at $1,004,690 in the last 90 days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Several institutional investors have recently added to or reduced their stakes in AM. Compound Planning Inc. raised its holdings in shares of Antero Midstream by 2.2% during the 4th quarter. Compound Planning Inc. now owns 40,551 shares of the pipeline company’s stock worth $721,000 after acquiring an additional 857 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after purchasing an additional 776,791 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Antero Midstream by 206.3% in the fourth quarter. Corient Private Wealth LLC now owns 38,679 shares of the pipeline company’s stock valued at $688,000 after purchasing an additional 26,051 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Antero Midstream by 29.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 140,446 shares of the pipeline company’s stock worth $2,499,000 after purchasing an additional 31,973 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Antero Midstream by 273.3% in the fourth quarter. Empowered Funds LLC now owns 129,621 shares of the pipeline company’s stock worth $2,306,000 after purchasing an additional 94,897 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AM. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. UBS Group upped their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 25th. The Goldman Sachs Group upped their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.50.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.