Antero Midstream (NYSE:AM) Reaches New 1-Year High – Here’s Why

Antero Midstream Corporation (NYSE:AM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.70 and last traded at $22.6630, with a volume of 213721 shares trading hands. The stock had previously closed at $22.48.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. The Goldman Sachs Group raised their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Morgan Stanley increased their target price 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. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.33.

Antero Midstream Stock Down 0.3%

The firm has a market capitalization of $10.81 billion, a P/E ratio of 26.57 and a beta of 0.77. 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 stock has a 50 day moving average of $19.29 and a 200-day moving average of $18.54.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm 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 34.77% and a return on equity of 20.12%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. Research analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a yield of 3.9%. Antero Midstream’s payout ratio is presently 104.65%.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the sale, the director owned 72,622 shares in the company, valued at $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Antero Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in AM. Global Retirement Partners LLC boosted its stake in Antero Midstream by 33.3% in the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 565 shares during the period. MAI Capital Management lifted its holdings in shares of Antero Midstream by 1.4% in the second quarter. MAI Capital Management now owns 44,049 shares of the pipeline company’s stock worth $835,000 after buying an additional 589 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Antero Midstream by 23.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after acquiring an additional 617 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock valued at $2,148,000 after acquiring an additional 660 shares during the period. Finally, Choreo LLC grew its stake in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 679 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

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.