Antero Midstream (NYSE:AM) Reaches New 12-Month High – What’s Next?

Antero Midstream Corporation (NYSE:AM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.13 and last traded at $23.1220, with a volume of 1782183 shares changing hands. The stock had previously closed at $22.59.

Analysts Set New Price Targets

AM has been the subject of several recent research reports. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Wells Fargo & Company boosted their target price on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. The Goldman Sachs Group upped their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley raised their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 12th. Finally, Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.33.

Antero Midstream Stock Performance

The stock has a 50 day moving average price of $19.79 and a two-hundred day moving average price of $18.72. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 26.89 and a beta of 0.77.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping 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 firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s payout ratio is 104.65%.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the transaction, the insider owned 99,900 shares of the company’s stock, valued at $2,273,724. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, the director owned 72,622 shares of the company’s stock, valued at approximately $1,277,420.98. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 44,000 shares of company stock worth $976,840. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

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

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.