Antero Midstream (NYSE:AM) Issues Quarterly Earnings Results

Antero Midstream (NYSE:AM) posted its quarterly earnings results on Wednesday. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04, FiscalAI reports. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%.

Antero Midstream Stock Performance

AM traded up $0.59 during trading on Wednesday, reaching $20.49. The company’s stock had a trading volume of 4,717,685 shares, compared to its average volume of 2,837,381. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $20.54. The company’s fifty day moving average price is $18.18 and its 200-day moving average price is $18.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th will be given a $0.225 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a yield of 4.4%. Antero Midstream’s dividend payout ratio (DPR) is presently 91.84%.

Analyst Upgrades and Downgrades

AM has been the subject of several analyst reports. Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research report on Monday, December 29th. Finally, Morgan Stanley boosted their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.17.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total transaction of $87,950.00. Following the transaction, the director directly owned 72,622 shares in the company, valued at approximately $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Antero Midstream

Several institutional investors and hedge funds have recently made changes to their positions in AM. Royal Bank of Canada lifted its holdings in Antero Midstream by 0.8% in the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after purchasing an additional 1,371 shares in the last quarter. AQR Capital Management LLC raised its holdings in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after buying an additional 53,281 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after acquiring an additional 1,400,368 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after purchasing an additional 43,335 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Antero Midstream by 5.9% during the 2nd quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock worth $344,000 after acquiring an additional 1,009 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

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.