Antero Midstream (NYSE:AM) Issues Quarterly Earnings Results

Antero Midstream (NYSE:AM) posted its quarterly earnings results on Wednesday. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13), Zacks reports. The company had revenue of $297.00 million for the quarter, compared to analyst estimates 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 was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share.

Antero Midstream Stock Up 2.7%

Shares of NYSE AM traded up $0.56 on Friday, hitting $21.47. The company had a trading volume of 802,387 shares, compared to its average volume of 2,882,802. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. Antero Midstream has a 12-month low of $15.07 and a 12-month high of $21.42. The firm has a market capitalization of $10.23 billion, a P/E ratio of 24.96 and a beta of 0.81. The business has a 50 day moving average of $18.28 and a two-hundred day moving average of $18.19.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s payout ratio is currently 91.84%.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 72,622 shares in the company, valued at $1,277,420.98. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after buying an additional 2,224 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Antero Midstream in the 2nd quarter worth about $123,000. Quadrant Capital Group LLC acquired a new stake in Antero Midstream during the third quarter valued at approximately $140,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Antero Midstream by 21.2% during the second quarter. EverSource Wealth Advisors LLC now owns 7,556 shares of the pipeline company’s stock worth $143,000 after purchasing an additional 1,323 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company increased their target price on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.50.

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.