Antero Midstream Corporation (NYSE:AM) Receives Average Rating of "Hold" from Brokerages

Key Points

• Antero Midstream has a consensus analyst rating of “Hold” from six brokerages, with an average 12-month price target of $24.00.
• Recent analyst moves were mixed: UBS, Wells Fargo, Goldman Sachs, and Morgan Stanley all raised price targets, while Zacks Research cut its view from strong-buy to hold.
• The company reported Q1 earnings of $0.25 per share, missing estimates by a penny, though revenue of $314.21 million beat expectations and was up 7.9% year over year.

Antero Midstream Corporation (NYSE:AM - Get Free Report) has earned a consensus rating of "Hold" from the six research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.00.

Several research firms recently commented on AM. UBS Group upped their target price on Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 25th. Wells Fargo & Company upped their target price on Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. Zacks Research lowered Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. The Goldman Sachs Group upped their target price on Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price for the company in a research note on Wednesday, April 22nd.

Insider Transactions at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company's stock, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sheri Pearce sold 14,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the sale, the insider directly owned 99,900 shares of the company's stock, valued at approximately $2,273,724. This trade represents a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 213,269 shares of company stock worth $4,713,681 in the last three months. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Antero Midstream

A number of institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its position in Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock valued at $46,000 after acquiring an additional 537 shares during the period. PNC Financial Services Group Inc. grew its position in Antero Midstream by 2.6% during the first quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company's stock valued at $489,000 after acquiring an additional 537 shares during the period. Hantz Financial Services Inc. grew its position in Antero Midstream by 23.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company's stock valued at $59,000 after acquiring an additional 617 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company's stock worth $2,148,000 after buying an additional 660 shares during the period. Finally, Choreo LLC boosted its position in shares of Antero Midstream by 5.0% in the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company's stock worth $253,000 after buying an additional 679 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Antero Midstream Stock Performance

NYSE AM opened at $21.97 on Friday. Antero Midstream has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 25.55 and a beta of 0.68. The business has a fifty day moving average of $22.20 and a 200-day moving average of $19.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, analysts predict that Antero Midstream will post 1.14 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream's payout ratio is 104.65%.

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.

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