Antero Midstream (NYSE:AM) Hits New 12-Month High – Here’s What Happened

Antero Midstream Corporation (NYSE:AM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.35 and last traded at $23.1840, with a volume of 247512 shares traded. The stock had previously closed at $22.88.

Analyst Ratings Changes

A number of analysts have recently weighed in on AM shares. 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 boosted their price target on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings raised Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. Finally, Wells Fargo & Company lifted their price objective on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream has a consensus rating of “Hold” and a consensus target price of $22.00.

Antero Midstream Stock Up 1.4%

The company has a 50 day moving average price of $20.20 and a two-hundred day moving average price of $18.87. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market cap of $10.97 billion, a PE ratio of 26.98 and a beta of 0.77.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. 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 during the quarter, compared to analysts’ expectations of $292.46 million. During the same period in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders 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 yield of 3.9%. Antero Midstream’s dividend payout ratio is currently 104.65%.

Insider Transactions at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Yvette K. Schultz sold 25,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $14,822,713.54. This trade represents a 3.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,000 shares of company stock worth $1,004,690 in the last quarter. 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 modified their holdings of the stock. Richardson Financial Services Inc. lifted its position in Antero Midstream by 330.2% during the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 994 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Antero Midstream in the third quarter worth about $25,000. Quent Capital LLC purchased a new position in shares of Antero Midstream during the 3rd quarter valued at about $28,000. Elevation Wealth Partners LLC purchased a new position in shares of Antero Midstream during the 4th quarter valued at about $27,000. Finally, Arax Advisory Partners increased its holdings in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 791 shares in 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.