Zacks Research Weighs in on Antero Midstream Co.’s Q1 2024 Earnings (NYSE:AM)

Antero Midstream Co. (NYSE:AM) – Research analysts at Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for Antero Midstream in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst R. Department now expects that the pipeline company will earn $0.24 per share for the quarter, up from their prior forecast of $0.23. The consensus estimate for Antero Midstream’s current full-year earnings is $0.98 per share. Zacks Research also issued estimates for Antero Midstream’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.97 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.04 EPS and Q1 2026 earnings at $0.32 EPS.

A number of other research analysts have also weighed in on the stock. Tudor, Pickering, Holt & Co. lowered shares of Antero Midstream from a “buy” rating to a “hold” rating and raised their target price for the company from $12.00 to $13.00 in a report on Tuesday, March 12th. StockNews.com upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.70.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $13.93 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.49. Antero Midstream has a 12 month low of $9.69 and a 12 month high of $14.52. The stock has a 50 day moving average of $13.50 and a 200 day moving average of $12.85. The firm has a market cap of $6.68 billion, a PE ratio of 18.09 and a beta of 2.25.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. The business had revenue of $260.17 million for the quarter, compared to analysts’ expectations of $261.04 million. Antero Midstream had a net margin of 35.69% and a return on equity of 19.96%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Tuesday, April 23rd. Antero Midstream’s dividend payout ratio (DPR) is currently 116.88%.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 16,394 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $13.67, for a total value of $224,105.98. Following the transaction, the insider now owns 170,266 shares of the company’s stock, valued at approximately $2,327,536.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Antero Midstream

Several large investors have recently added to or reduced their stakes in AM. Vanguard Personalized Indexing Management LLC increased its stake in shares of Antero Midstream by 4.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 37,360 shares of the pipeline company’s stock valued at $448,000 after buying an additional 1,741 shares during the period. California Public Employees Retirement System bought a new stake in shares of Antero Midstream in the 3rd quarter valued at about $2,183,000. SeaBridge Investment Advisors LLC purchased a new stake in shares of Antero Midstream in the 4th quarter worth approximately $1,226,000. Swiss National Bank increased its holdings in Antero Midstream by 8.4% during the third quarter. Swiss National Bank now owns 790,700 shares of the pipeline company’s stock valued at $9,473,000 after buying an additional 61,300 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in Antero Midstream by 110.6% in the third quarter. Campbell & CO Investment Adviser LLC now owns 99,417 shares of the pipeline company’s stock worth $1,191,000 after buying an additional 52,221 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Company Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.