Antero Midstream (NYSE:AM) Price Target Raised to $16.00

Antero Midstream (NYSE:AM) had its price objective hoisted by Morgan Stanley from $15.00 to $16.00 in a report published on Tuesday morning, Benzinga reports. They currently have an underweight rating on the pipeline company’s stock.

Separately, StockNews.com lowered Antero Midstream from a buy rating to a hold rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Antero Midstream has a consensus rating of Hold and an average target price of $13.88.

Antero Midstream Stock Performance

Shares of AM stock opened at $14.87 on Tuesday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 18.58 and a beta of 2.38. The company has a quick ratio of 1.25, a current ratio of 0.89 and a debt-to-equity ratio of 1.50. Antero Midstream has a 52-week low of $11.50 and a 52-week high of $15.21. The company’s 50 day moving average is $14.53 and its 200 day moving average is $14.15.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). Antero Midstream had a net margin of 36.19% and a return on equity of 20.02%. The firm had revenue of $269.70 million during the quarter, compared to the consensus estimate of $274.66 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Antero Midstream will post 0.86 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Wednesday, July 24th. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total value of $343,127.62. Following the completion of the transaction, the insider now directly owns 130,349 shares in the company, valued at $1,901,791.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Institutional Trading of Antero Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in Antero Midstream by 24.2% during the second quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock worth $52,000 after acquiring an additional 688 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of Antero Midstream by 1.0% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 78,573 shares of the pipeline company’s stock valued at $1,158,000 after purchasing an additional 798 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Antero Midstream by 3.3% in the 4th quarter. Advisory Services Network LLC now owns 27,047 shares of the pipeline company’s stock valued at $339,000 after purchasing an additional 871 shares during the period. Atria Wealth Solutions Inc. lifted its stake in shares of Antero Midstream by 3.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,708 shares of the pipeline company’s stock valued at $347,000 after purchasing an additional 1,042 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Antero Midstream by 0.3% during the first quarter. Retirement Systems of Alabama now owns 427,703 shares of the pipeline company’s stock worth $6,014,000 after buying an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

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.