Antero Midstream (NYSE:AM) Reaches New 52-Week High – Here’s Why

Antero Midstream Corporation (NYSE:AM) shares hit a new 52-week high on Tuesday . The company traded as high as $23.49 and last traded at $23.4610, with a volume of 218088 shares trading hands. The stock had previously closed at $22.96.

Wall Street Analyst Weigh In

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

Antero Midstream Price Performance

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 capitalization of $11.16 billion, a PE ratio of 27.44 and a beta of 0.77. The company’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $19.11.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 3.8%. Antero Midstream’s dividend payout ratio is currently 104.65%.

Insiders Place Their Bets

In other news, insider Yvette K. Schultz sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 44,000 shares of company stock valued at $1,004,690. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

Several institutional investors have recently bought and sold shares of AM. Richardson Financial Services Inc. raised its position in Antero Midstream by 330.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after buying an additional 994 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Antero Midstream in the third quarter valued at about $25,000. Elevation Wealth Partners LLC purchased a new stake in shares of Antero Midstream in the fourth quarter valued at about $27,000. Quent Capital LLC acquired a new position in shares of Antero Midstream during the third quarter worth about $28,000. Finally, Larson Financial Group LLC increased its stake in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 708 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Company Profile

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.