Antero Midstream Corporation (NYSE:AM) Receives $19.17 Average Target Price from Analysts

Shares of Antero Midstream Corporation (NYSE:AM) have earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.1667.

AM has been the subject of a number of recent analyst reports. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Morgan Stanley raised their price target on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Wall Street Zen cut shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Wells Fargo & Company upped their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 23rd.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 72,622 shares in the company, valued at approximately $1,277,420.98. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Antero Midstream during the second quarter worth approximately $80,504,000. Bank of New York Mellon Corp grew its holdings in shares of Antero Midstream by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock worth $152,574,000 after purchasing an additional 1,430,138 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. SIR Capital Management L.P. increased its position in shares of Antero Midstream by 1,086.9% in the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock worth $26,892,000 after purchasing an additional 1,266,794 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Antero Midstream in the second quarter valued at about $20,044,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of AM opened at $19.18 on Thursday. The company has a market cap of $9.13 billion, a PE ratio of 19.57 and a beta of 0.81. The firm has a 50-day moving average of $18.10 and a 200-day moving average of $18.11. Antero Midstream has a one year low of $15.07 and a one year high of $19.82. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.7%. Antero Midstream’s dividend payout ratio is presently 91.84%.

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.