Antero Midstream (NYSE:AM) Price Target Raised to $19.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Antero Midstream from $17.00 to $19.00, indicating a potential upside of 4.40% from the current stock price.
• Antero Midstream reported earnings of $0.26 per share for the last quarter, exceeding the consensus estimate of $0.24, with revenue up 13.2% year-over-year.
• Insider trading activity included Director Brooks J. Klimley selling 5,000 shares at an average price of $18.88, which represented a 6.36% decrease in his stake in the company.

Antero Midstream (NYSE:AM - Get Free Report) had its price objective hoisted by analysts at Wells Fargo & Company from $17.00 to $19.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the pipeline company's stock. Wells Fargo & Company's price objective suggests a potential upside of 4.40% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Morgan Stanley reaffirmed an "underweight" rating and set a $17.00 price target (up previously from $16.00) on shares of Antero Midstream in a report on Tuesday, June 3rd.

Antero Midstream Stock Down 0.8%

NYSE AM traded down $0.15 during trading hours on Friday, hitting $18.20. The company had a trading volume of 242,686 shares, compared to its average volume of 3,148,908. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 19.10 and a beta of 1.01. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.42. Antero Midstream has a fifty-two week low of $13.12 and a fifty-two week high of $19.08. The firm's 50 day moving average is $18.10 and its 200 day moving average is $17.35.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a return on equity of 21.61% and a net margin of 39.53%. The company's revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. Sell-side analysts anticipate that Antero Midstream will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director owned 73,645 shares in the company, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Antero Midstream

Several institutional investors and hedge funds have recently added to or reduced their stakes in AM. Transce3nd LLC bought a new stake in Antero Midstream in the first quarter worth $29,000. UMB Bank n.a. lifted its position in Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after acquiring an additional 2,188 shares during the last quarter. Brooklyn Investment Group lifted its position in Antero Midstream by 41.2% during the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after acquiring an additional 1,328 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Antero Midstream by 20.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after acquiring an additional 963 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its position in Antero Midstream by 277.3% during the 2nd quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company's stock worth $124,000 after acquiring an additional 4,808 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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