Antero Midstream (NYSE:AM) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Antero Midstream Corporation (NYSE:AM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.40 and traded as high as $23.03. Antero Midstream shares last traded at $22.7850, with a volume of 1,770,244 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. The Goldman Sachs Group upped their target price 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. Wells Fargo & Company upped their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, UBS Group upped their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Antero Midstream Stock Up 0.8%

The stock’s fifty day moving average is $21.78 and its two-hundred day moving average is $19.40. 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 firm has a market cap of $10.78 billion, a P/E ratio of 26.49 and a beta of 0.75.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.Antero Midstream’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. As a group, research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders 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 3.9%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insider Transactions at Antero Midstream

In other news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at $14,822,713.54. This represents a 3.70% decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director directly owned 69,680 shares in the company, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,000 shares of company stock valued at $1,004,690 in the last quarter. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Institutional investors have recently made changes to their positions in the stock. Richardson Financial Services Inc. increased its holdings in shares of Antero Midstream by 330.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after buying an additional 994 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Antero Midstream in the 3rd quarter worth $25,000. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream in the 4th quarter worth $27,000. Quent Capital LLC bought a new position in shares of Antero Midstream in the 3rd quarter worth $28,000. Finally, Larson Financial Group LLC boosted its stake in shares of Antero Midstream by 68.1% in the 4th 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 in the last quarter. Institutional investors own 53.97% of the company’s stock.

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.