Antero Midstream (NYSE:AM) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Antero Midstream (NYSE:AM) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

AM has been the subject of a number of other research reports. Wells Fargo & Company lifted their price objective on Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 23rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Wall Street Zen lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Morgan Stanley raised their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $19.17.

Antero Midstream Price Performance

AM stock opened at $18.74 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s 50 day moving average price is $18.06 and its 200 day moving average price is $18.08. The firm has a market cap of $8.93 billion, a P/E ratio of 19.12 and a beta of 0.81. Antero Midstream has a 1 year low of $15.07 and a 1 year high of $19.82.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, January 28th. Antero Midstream’s payout ratio is currently 91.84%.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the transaction, the director owned 72,622 shares of the company’s stock, valued at approximately $1,277,420.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. boosted its position in Antero Midstream by 330.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after buying an additional 994 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Antero Midstream during the third quarter worth about $25,000. Elevation Wealth Partners LLC acquired a new position in shares of Antero Midstream in the fourth quarter worth about $27,000. Quent Capital LLC purchased a new position in Antero Midstream in the third quarter valued at about $28,000. Finally, Global Retirement Partners LLC boosted its holdings in Antero Midstream by 33.3% in the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 565 shares during the last quarter. 53.97% of the stock is currently 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.