Wells Fargo & Company Boosts Antero Midstream (NYSE:AM) Price Target to $23.00

Antero Midstream (NYSE:AM) had its target price raised by equities research analysts at Wells Fargo & Company from $21.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.71% from the stock’s current price.

A number of other research analysts have also weighed in on AM. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. The Goldman Sachs Group increased their price target 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. Finally, Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.00.

Antero Midstream Price Performance

Antero Midstream stock opened at $23.16 on Friday. The firm has a market capitalization of $10.96 billion, a P/E ratio of 26.93 and a beta of 0.77. Antero Midstream has a one year low of $15.07 and a one year high of $23.34. 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 business has a fifty day moving average price of $20.10 and a 200-day moving average price of $18.83.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. As a group, equities research analysts forecast that Antero Midstream will post 0.95 EPS for the current year.

Insiders Place Their Bets

In other news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director owned 69,680 shares in the company, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sheri Pearce sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total value of $318,640.00. Following the transaction, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. The trade was a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,000 shares of company stock worth $1,092,640 in the last ninety days. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Antero Midstream

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position 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 valued at $152,574,000 after buying an additional 1,430,138 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Antero Midstream by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock worth $9,812,000 after acquiring an additional 146,300 shares in the last quarter. American Century Companies Inc. grew its position in Antero Midstream by 21.0% in the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after acquiring an additional 535,245 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Antero Midstream in the third quarter valued at $2,676,000. Finally, Franklin Resources Inc. increased its stake in Antero Midstream by 54.3% in the second quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock valued at $11,637,000 after acquiring an additional 216,022 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other 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.