Wells Fargo & Company Raises Antero Midstream (NYSE:AM) Price Target to $21.00

Antero Midstream (NYSE:AM) had its price objective lifted by research analysts at Wells Fargo & Company from $20.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.45% from the stock’s previous close.

Several other analysts have also issued reports on AM. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Morgan Stanley lifted their target price on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average price target of $19.50.

Antero Midstream Trading Up 3.2%

Shares of NYSE:AM opened at $21.10 on Friday. The stock’s 50-day simple moving average is $18.28 and its two-hundred day simple moving average is $18.19. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 24.45 and a beta of 0.81. Antero Midstream has a 52-week low of $15.07 and a 52-week high of $21.11. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 19.86%. Antero Midstream’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 earned $0.23 EPS. Analysts expect that Antero Midstream will post 0.95 EPS for the current year.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AM. Global Retirement Partners LLC grew its position in Antero Midstream by 33.3% during the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after buying an additional 565 shares during the period. MAI Capital Management grew its position in shares of Antero Midstream by 1.4% during the 2nd quarter. MAI Capital Management now owns 44,049 shares of the pipeline company’s stock valued at $835,000 after acquiring an additional 589 shares during the period. US Bancorp DE grew its position in shares of Antero Midstream by 1.6% during the 2nd quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after acquiring an additional 610 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Antero Midstream by 23.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after purchasing an additional 617 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Antero Midstream by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock worth $2,148,000 after purchasing an additional 660 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

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.