Antero Midstream (NYSE:AM) Hits New 1-Year High - Time to Buy?

Key Points

• Antero Midstream's shares have reached a new 52-week high of $19.09, indicating positive momentum in the stock's performance.
• Wall Street analysts have mixed reviews on the stock, with Zacks Research downgrading it to a "hold" while Wall Street Zen upgraded it to a "buy".
• The company reported a revenue increase of 13.2% year-over-year, posting earnings of $0.26 per share, which surpassed analyst expectations.

Antero Midstream Corporation (NYSE:AM - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $19.09 and last traded at $19.08, with a volume of 846427 shares changing hands. The stock had previously closed at $18.75.

Wall Street Analysts Forecast Growth

AM has been the topic of a number of research analyst reports. Zacks Research lowered Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Friday. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley upped their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group increased their price target on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company upped their target price on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $18.50.

Antero Midstream Price Performance

The company has a 50 day moving average price of $17.94 and a 200 day moving average price of $17.83. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 20.13 and a beta of 0.92. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, equities research analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Wednesday, July 23rd. Antero Midstream's payout ratio is 94.74%.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Antero Midstream

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Antero Midstream in the 1st quarter valued at about $529,000. Sequoia Financial Advisors LLC grew its position in shares of Antero Midstream by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock valued at $289,000 after purchasing an additional 975 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Antero Midstream during the 1st quarter worth $459,000. KBC Group NV lifted its holdings in shares of Antero Midstream by 18.5% during the 1st quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock worth $317,000 after acquiring an additional 2,757 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in Antero Midstream in the first quarter worth $495,000. Institutional investors own 53.97% of the company's stock.

About Antero Midstream

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.

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