Brokerages Set Antero Midstream Corporation (NYSE:AM) Target Price at $22.50

Antero Midstream Corporation (NYSE:AM) has earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.00.

A number of research analysts have commented on the company. UBS Group boosted their price objective on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company upped their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, The Goldman Sachs Group increased their price objective on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th.

Insider Activity

In other news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.81, for a total value of $570,250.00. Following the completion of the sale, the insider owned 649,834 shares in the company, valued at $14,822,713.54. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 44,000 shares of company stock worth $1,004,690. Insiders own 0.86% of the company’s stock.

Institutional Trading of Antero Midstream

A number of hedge funds have recently modified their holdings of AM. Richardson Financial Services Inc. increased its stake in shares of Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares during the last quarter. Root Financial Partners LLC acquired a new position in Antero Midstream during the third quarter worth $25,000. Elevation Wealth Partners LLC acquired a new stake in shares of Antero Midstream in the fourth quarter valued at about $27,000. Quent Capital LLC acquired a new stake in shares of Antero Midstream in the third quarter valued at about $28,000. Finally, Larson Financial Group LLC grew its position in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM stock opened at $21.41 on Tuesday. The stock has a 50-day moving average price of $22.31 and a two-hundred day moving average price of $19.58. Antero Midstream has a 12-month low of $16.24 and a 12-month high of $23.83. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The company has a market cap of $10.13 billion, a PE ratio of 24.90 and a beta of 0.75.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). 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 analysts’ expectations of $292.46 million. During the same period last year, the firm posted $0.23 EPS. Antero Midstream’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that Antero Midstream will post 1.14 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

About Antero Midstream

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.