Antero Midstream (NYSE:AM) Releases Earnings Results, Misses Expectations By $0.01 EPS

Antero Midstream (NYSE:AM - Get Free Report) released its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01), Zacks reports. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Antero Midstream's revenue for the quarter was up 7.9% on a year-over-year basis.

Antero Midstream Price Performance

Antero Midstream stock opened at $21.32 on Tuesday. 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 $16.77 and a 52-week high of $23.83. The firm has a market cap of $10.12 billion, a PE ratio of 24.79 and a beta of 0.68. The company's 50 day moving average is $22.28 and its two-hundred day moving average is $19.81.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream's dividend payout ratio is 104.65%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AM. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Friday, March 13th. The Goldman Sachs Group increased their price objective on Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. UBS Group upped their price target on Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 25th. Finally, Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $24.00.

Insider Buying and Selling

In other news, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the transaction, the director owned 69,680 shares of the company's stock, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Antero Midstream

A number of large investors have recently modified their holdings of the company. M&T Bank Corp grew its stake in shares of Antero Midstream by 5.9% during the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company's stock worth $344,000 after purchasing an additional 1,009 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in Antero Midstream during the 4th quarter worth about $283,000. Two Sigma Securities LLC purchased a new stake in Antero Midstream during the 2nd quarter worth about $266,000. Caxton Associates LLP acquired a new position in shares of Antero Midstream during the 2nd quarter worth about $252,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of Antero Midstream in the 3rd quarter valued at about $221,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

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.