Antero Midstream Corporation (NYSE:AM) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts rate Antero Midstream “Hold”: Five of six analysts recommend holding the stock, while one recommends buying it. Their average 12-month price target is $24.25, compared with a recent share price of $21.59.
• Quarterly results were mixed: Antero Midstream reported $0.25 in EPS, slightly below the $0.26 consensus, but revenue rose 7.9% year over year to $314.21 million, exceeding estimates.
• The company declared a $0.225 quarterly dividend, equivalent to $0.90 annually and a 4.2% yield. The payout ratio is high at 104.65%, while institutional investors own nearly 54% of the stock.

Shares of Antero Midstream Corporation (NYSE:AM - Get Free Report) have earned a consensus rating of "Hold" from the six ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.25.

A number of equities analysts have issued reports on AM shares. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective for the company in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded Antero Midstream from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, June 25th.

Antero Midstream Trading Down 0.7%

AM stock opened at $21.59 on Thursday. The company's 50-day simple moving average is $22.04 and its 200-day simple moving average is $21.51. 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 has a 52-week low of $16.84 and a 52-week high of $23.83. The firm has a market cap of $10.26 billion, a P/E ratio of 25.11 and a beta of 0.64.

Antero Midstream (NYSE:AM - Get Free Report) last posted its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The business had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. Antero Midstream's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. As a group, equities analysts forecast that Antero Midstream will post 1.1 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream's dividend payout ratio is currently 104.65%.

Insider Buying and Selling at Antero Midstream

In other news, insider Michael N. Kennedy sold 100,000 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares of the company's stock, valued at $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the transaction, the insider owned 580,565 shares of the company's stock, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Antero Midstream

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company's stock valued at $417,069,000 after purchasing an additional 776,791 shares during the last quarter. State Street Corp boosted its stake in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company's stock worth $201,691,000 after purchasing an additional 187,912 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Antero Midstream by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock worth $186,328,000 after buying an additional 1,161,684 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company's stock worth $208,148,000 after buying an additional 920,948 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after buying an additional 1,400,368 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Antero Midstream Company Profile

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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