Antero Midstream (NYSE:AM) Sets New 12-Month High – Should You Buy?

Antero Midstream Corporation (NYSE:AM) hit a new 52-week high on Tuesday . The stock traded as high as $23.49 and last traded at $23.4610, with a volume of 218088 shares traded. The stock had previously closed at $22.96.

Wall Street Analysts Forecast Growth

AM has been the topic of several recent analyst reports. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. The Goldman Sachs Group boosted their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research 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 company an “equal weight” rating in a report on Friday, March 13th. Finally, Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.00.

Antero Midstream Stock Up 2.1%

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 firm’s 50 day moving average price is $20.76 and its two-hundred day moving average price is $19.05. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 27.21 and a beta of 0.77.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s dividend payout ratio is 104.65%.

Insider Buying and Selling

In other Antero Midstream news, insider Yvette K. Schultz sold 25,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 649,834 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the transaction, the insider owned 99,900 shares of the company’s stock, valued at approximately $2,273,724. The trade was a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,000 shares of company stock valued at $1,004,690 over the last three months. 0.86% of the stock is currently owned by company insiders.

Institutional Trading of Antero Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in AM. Richardson Financial Services Inc. raised its holdings 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 worth $25,000 after purchasing an additional 994 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Antero Midstream in the 3rd quarter valued at approximately $25,000. Elevation Wealth Partners LLC acquired a new position in Antero Midstream during the 4th quarter worth approximately $27,000. Quent Capital LLC acquired a new position in Antero Midstream during the 3rd quarter worth approximately $28,000. Finally, Larson Financial Group LLC raised its stake in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

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.