Antero Midstream (NYSE:AM) Trading 3% Higher on Analyst Upgrade

Antero Midstream Corporation (NYSE:AM) was up 3% during trading on Wednesday after Capital One Financial upgraded the stock from an equal weight rating to an overweight rating. Capital One Financial now has a $25.00 price target on the stock. Antero Midstream traded as high as $21.70 and last traded at $21.7550. Approximately 197,913 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,597,974 shares. The stock had previously closed at $21.12.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Antero Midstream from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, September 17th. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, UBS Group decreased their target price on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Antero Midstream has a consensus rating of “Hold” and a consensus target price of $24.20.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. This trade represents a 16.02% 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 that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the transaction, the director directly owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently modified their holdings of AM. Tidal Investments LLC lifted its position in shares of Antero Midstream by 5.4% during the 2nd quarter. Tidal Investments LLC now owns 155,732 shares of the pipeline company’s stock worth $3,543,000 after buying an additional 7,919 shares during the last quarter. Engineers Gate Manager LP grew its position in Antero Midstream by 25.3% in the second quarter. Engineers Gate Manager LP now owns 156,669 shares of the pipeline company’s stock valued at $3,564,000 after acquiring an additional 31,650 shares during the last quarter. Squarepoint Ops LLC grew its position in Antero Midstream by 285.7% in the second quarter. Squarepoint Ops LLC now owns 77,056 shares of the pipeline company’s stock valued at $1,753,000 after acquiring an additional 57,077 shares during the last quarter. Baird Financial Group Inc. grew its position in Antero Midstream by 43.8% in the second quarter. Baird Financial Group Inc. now owns 22,623 shares of the pipeline company’s stock valued at $515,000 after acquiring an additional 6,893 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Antero Midstream by 3.0% during the second quarter. Parkside Financial Bank & Trust now owns 21,743 shares of the pipeline company’s stock worth $495,000 after acquiring an additional 642 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

The business’s fifty day moving average price is $22.13 and its 200 day moving average price is $22.10. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $10.33 billion, a P/E ratio of 25.88 and a beta of 0.65.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The business had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 107.14%.

Antero Midstream Company Profile

Antero Midstream Corp. (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company provides gathering, compression, processing and water-handling services, primarily for Antero Resources and other producers.

Antero Midstream’s gathering and compression assets collect production from wells and transport it to processing and downstream markets. Its water business provides fresh-water delivery and wastewater handling services, including the gathering, recycling and disposal of water used in hydraulic fracturing and other production activities.

The company’s operations are concentrated in the Appalachian Basin, particularly in the Marcellus and Utica shale areas of West Virginia and Ohio.