Antero Midstream (NYSE:AM) Price Target Raised to $24.00 at UBS Group

Antero Midstream (NYSE:AM) had its price objective increased by UBS Group from $22.00 to $24.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the pipeline company’s stock.

AM has been the topic of several other research reports. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. The Goldman Sachs Group raised their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Wells Fargo & Company boosted their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Finally, Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.50.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $23.60 on Wednesday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 27.44 and a beta of 0.77. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The stock’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $19.11. Antero Midstream has a 52 week low of $15.07 and a 52 week high of $23.63.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Antero Midstream will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.8%. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the sale, the insider directly owned 99,900 shares in the company, valued at $2,273,724. The trade was a 12.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yvette K. Schultz sold 25,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total transaction of $570,250.00. Following 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 SEC filing for this sale provides additional information. Insiders have sold a total of 44,000 shares of company stock valued at $1,004,690 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Antero Midstream

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in Antero Midstream by 22.3% in 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 buying an additional 1,430,138 shares during the period. Oppenheimer & Co. Inc. boosted its position in Antero Midstream by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock valued at $9,812,000 after buying an additional 146,300 shares during the period. American Century Companies Inc. boosted its position in Antero Midstream by 21.0% in the 3rd quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock valued at $59,913,000 after buying an additional 535,245 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Antero Midstream in the 3rd quarter worth about $2,676,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Antero Midstream by 20.7% during the third quarter. Envestnet Asset Management Inc. now owns 779,641 shares of the pipeline company’s stock worth $15,156,000 after acquiring an additional 133,737 shares during the period. 53.97% of the stock is owned by institutional investors.

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.