Antero Midstream (NYSE:AM) Releases Earnings Results, Misses Expectations By $0.02 EPS

Antero Midstream (NYSE:AM) released its earnings results on Wednesday. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02), FiscalAI reports. The business had revenue of $327.02 million for the quarter, compared to analysts’ expectations of $340.62 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%. Antero Midstream’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS.

Antero Midstream Trading Up 3.4%

AM traded up $0.71 on Thursday, hitting $21.46. The company had a trading volume of 2,026,284 shares, compared to its average volume of 2,600,241. The firm has a market cap of $10.18 billion, a P/E ratio of 25.58 and a beta of 0.72. Antero Midstream has a 1 year low of $16.96 and a 1 year high of $23.83. The company’s fifty day moving average price is $21.39 and its 200 day moving average price is $21.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, October 28th will be given a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Insider Activity

In other news, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. This represents a 16.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director directly owned 68,204 shares of the company’s stock, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AM has been the subject of several research reports. UBS Group dropped their price objective on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. Zacks Research lowered shares of Antero Midstream from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Capital One Financial upgraded Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 target price on the stock in a report on Tuesday, September 22nd. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Finally, Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.20.

About Antero Midstream

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company’s services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources’ operations in the Appalachian Basin, particularly in West Virginia and Ohio.