Antero Midstream (NYSE:AM) Given New $24.00 Price Target at Morgan Stanley

Antero Midstream (NYSE:AM) had its price target decreased by Morgan Stanley from $26.00 to $24.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley‘s target price indicates a potential upside of 20.99% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Weiss Ratings raised Antero Midstream from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, October 30th. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research note on Tuesday, July 14th. Zacks Research downgraded Antero Midstream from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Wells Fargo & Company upped their target price on Antero Midstream from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Finally, UBS Group cut their price target on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Antero Midstream Stock Up 1.5%

Shares of AM traded up $0.29 during midday trading on Tuesday, reaching $19.84. 488,924 shares of the stock were exchanged, compared to its average volume of 2,642,440. The company has a market capitalization of $9.37 billion, a P/E ratio of 13.98 and a beta of 0.71. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. Antero Midstream has a 52 week low of $17.12 and a 52 week high of $23.83. The company’s 50 day moving average is $21.07 and its two-hundred day moving average is $21.60.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, October 28th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Antero Midstream had a return on equity of 33.53% and a net margin of 53.45%. The company had revenue of $327.02 million for the quarter, compared to analysts’ expectations of $340.62 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Antero Midstream will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Antero Midstream in the second quarter valued at approximately $869,045,000. Bank of New York Mellon Corp grew its holdings in Antero Midstream by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock worth $208,148,000 after acquiring an additional 920,948 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Antero Midstream by 2.9% in the 3rd quarter. Boston Trust Walden Corp now owns 3,551,511 shares of the pipeline company’s stock valued at $71,598,000 after purchasing an additional 100,293 shares during the last quarter. Kayne Anderson Capital Advisors LP purchased a new stake in shares of Antero Midstream in the 2nd quarter valued at approximately $49,883,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Antero Midstream in the 2nd quarter valued at approximately $46,007,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

About Antero Midstream

Antero Midstream Corporation owns and operates natural gas gathering, compression and water-handling infrastructure in the Appalachian Basin. Its assets support production in the Marcellus and Utica shale regions of West Virginia and Ohio.

The company’s services include gathering and compression of natural gas, as well as water transportation and related infrastructure used in shale development. Antero Midstream’s operations primarily serve Antero Resources, connecting its production areas with downstream pipelines and supporting its water needs.

Antero Midstream was established in 2014 as Antero Resources’ midstream partnership and later converted to a corporation.